Ellite Cryptominer LTD, claims to have been licensed by a Saskatchewan organization that shut down years ago.

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The Financial and Consumer Affairs Authority (FCAA) is advising Saskatchewan residents to be careful where they invest their money.

In a news release this week, the authority warned investors about an online cryptocurrency scam, led by Ellite Cryptominer LTD, a company claiming to be based out of the United Kingdom.

The company, which declared itself as one of the world’s leading CryptoForex trading platforms for Bitcoin and other forms of virtual currency, is not licensed.

It purported that the Financial Services Commission of Ontario (FSCO), based in Saskatchewan, issued them a Broker Licence, but this organization no longer exists and it was never based out of province.

FCAA has never issued a licence to Ellite and the two companies are not affiliated.

The government issued a reminder, asking people to check the registration of the person or company before investing, to research investments throughly and to seek a second opinion.

To check registration visit The Canadian Securities Administrations’ National Registration Search.

If you have invested with Ellite Cryptominer LTD, or anyone who claims to be acting on their behalf, please contact the FCAA’s Securities Division at 306-787-5936.

For more investor protection information visit https://fcaa/gov.sk.ca/consumers-investors-pension-plan-members/investors.



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