Investor Alert: Fraudulent Website Impersonating Kilgharrah Asset Management and Falsely Claiming CIRO Registration
Be an informed investor - Protect yourself against fraudulent schemes
TORONTO, May 15, 2025 /CNW/ - Investors are urged to exercise caution when encountering Guaranteed Investment Certificate (GIC) offers online. A fraudulent entity operating through the website [kilgharrah-assetmanagement[.]com] has been falsely claiming registration with the Canadian Investment Regulatory Organization (CIRO) while impersonating Kilgharrah Asset Management, a legitimate registered firm. This fraudulent website, advertised in social media, is actively promoting fake GICs that do not represent genuine investment opportunities, putting investors at risk of financial loss.
This fraudulent website has no connection to Kilgharrah Asset Management or to CIRO and the Ontario Securities Commission (OSC). Its claims of registration with CIRO are entirely false.
Protect Yourself from Scams:
- Always verify the legitimacy of financial offers by visiting the official, registered website of the financial institution. If a firm or individual claims to be registered with CIRO, independently confirm their registration status through CIRO's official channels.
- In Canada, use the National Registration Search of the Canadian Securities Administrators (CSA) to verify advisor an advisor's registration status.
- Be aware that fraudsters frequently impersonate legitimate advisors. Therefore, investors should directly confirm with the registered financial institution that they are dealing with the actual registrant.
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 or territorial securities commission, and the Canadian Anti-Fraud Centre. Visit CIRO website for fraud prevention resources, including Avoiding Fraud and Protecting Your Investments for additional information.
Please direct all other inquiries to our Complaints & Inquiries team:
1-877-442-4322 (Canada/US),
800-5555-2323 (Outside Canada/US),
or by completing our Secure Contact Form
SOURCE Canadian Investment Regulatory Organization (CIRO)