March 21, 2025 (Toronto, Ontario) – The Canadian Investment Regulatory Organization (CIRO) urges Canadian investors to remain vigilant against fraudulent schemes linked to entities operating under the names AI Tek-Invest, AI Invest, Aitek-Invest, and AiVistaFX.
These entities falsely claim affiliation with Independent Trading Group (ITG) Inc. and offer services to recover funds from fraudulent cryptocurrency companies. Their claims are unfounded, and these entities are not connected to CIRO-regulated firm ITG Inc. or any legitimate recovery services. The only legitimate website for ITG Inc. is www.independent-trading-group.com.
Details of the Scheme:
- The fraudulent website for AI Tek-Invest closely mirrors the previously flagged and fraudulent AiVistaFX website.
- Links on the AI Tek-Invest website redirect users to an AiVistaFX PDF document, which fraudulently displays the CIRO logo and forged signatures including that of CIRO CEO, Andrew Kriegler.
- Fraudsters involved have been using newly discovered email communications and impersonating names to deceive victims.
This type of scheme is called an investment recovery scam. In recovery scams, fraudsters approach individuals who have already fallen victim to a financial scam, only to use any details provided to scam those individuals again.
Fraudsters are becoming very sophisticated in their use of technology, so CIRO strongly advises investors to independently verify any communication from these entities by contacting the official ITG Inc. website. CIRO remains committed to protecting investors and providing resources to address fraudulent activities. For more information on identifying and reporting scams, visit the CIRO website.
Please note that investors can confirm with CIRO’s Complaints & Inquiries team to verify the legitimacy of anyone claiming to represent CIRO. All individuals registered to offer financial advice in Canada are listed on the National Registration Search of the Canadian Securities Administrators (CSA).
March is Fraud Prevention Month
CIRO’s Office of the Investor provides resources to help Canadians avoid investment fraud and protect their financial well-being during Fraud Prevention month (in March) and throughout the year. See Avoiding Fraud and Protecting Your Investments on CIRO’s website for additional information.
If you believe you have been a victim of this or a similar scam, please report it to CIRO and immediately contact your bank, local police, your provincial securities commission, and the Canadian Anti-Fraud Centre.
For media inquiries only:
Trisha Utomi
Corporate Communications and Public Affairs
Canadian Investment Regulatory Organization
Telephone: 437-448-7980
Email: [email protected]
Please direct all other inquiries to our Complaints & Inquiries team:
1-877-442-4322 (Canada/US),
800-555-2323 (Outside Canada/US),
or by completing our Secure Contact Form
About CIRO
The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.
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