Ontario Provincial Police are sounding the alarm, once again, about investment schemes. The latest incident was reported on Wednesday by a resident from Guelph-Eramosa Township. OPP said they lost more than $35,000 to a cryptocurrency scam. Police did not share specific details about the so-called “investment,” only that they are still investigating the incident. Warning signs Spotting a scam can be tricky. The most common ones are initial coin offerings, Ponzi schemes, franchise opportunities, futures trading, multi-level marketing opportunities, mortgage investment opportunities and pump and dump schemes. “In most of these cases, the investment opportunities offer higher than normal or true monetary returns which often result in investors losing most, or all, of their money,” OPP said in a media release. They also shared some of the warning signs to look out for: Victims of fraud are urged to report the scheme to their local police department and the Canadian Anti-Fraud Centre (CAFC), even if there has been no financial loss.
