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14 March 2013
Investor Alert: Profitable Sunrise and other high-yield investment schemes

SAINT JOHN – Investors are warned not to send money to an offshore company called Profitable Sunrise, an entity that claims to provide high-yield investments through short-term bridge loans to businesses. The New Brunswick Securities Commission is issuing this warning following similar warnings by several Canadian and American securities regulators.

“Investors need to take a step back if they are pressured to hand over their savings for quick guaranteed profits,” says Rick Hancox, executive director of Commission. “A high return, no-risk investment does not exist. Remember, the higher the returns, the higher the risk.”

A high-yield investment scheme involves an investment that promises unrealistically high returns while disclosing few details on how such returns are generated.

The Profitable Sunrise website offers investors various plans to earn daily interest of 1.6 to 2.7 per cent through short-term loans to businesses. New Brunswickers should be aware that Profitable Sunrise and its agents are not registered to sell securities in New Brunswick and have not filed a prospectus with the Commission. The company and its principals appear to be located in the United Kingdom.

“We want New Brunswickers to be aware that legitimate investment opportunities do not just appear out of the blue in your inbox or from a stranger over the telephone,” said Hancox. “If you have suspicions about a company or person selling investments, contact us.”

If you have been contacted by someone claiming to represent Profitable Sunrise, please contact the New Brunswick Securities Commission’s investor services coordinator at 506 658 3060 or 1 866 933-2222 (toll-free).

The Alberta Securities Commission, the British Columbia Securities Commission and the Autorité des marchés financiers have all issued similar warnings earlier this week.

Refer to the North Carolina Securities Division’s website for more information about the temporary order to cease and desist against Roman Novak, Radoslave Noval and Inter Reef Ltd doing business as Profitable Sunrise.

Being an informed investor is the best defence against investment fraud. Learn how to protect yourself by taking advantage of the materials available on the New Brunswick Securities Commission’s website at www.investinknowingmore.ca.

The New Brunswick Securities Commission is an independent provincial Crown corporation responsible for regulating trading in securities within the province.


Media Contact: Michelle Robichaud, Communications Officer, 506 643-7045 or 1 866 933-2222. Michelle.Robichaud@nbsc-cvmnb.ca