CIRO Issues Warning Over Ongoing Scams Impersonating Highgate Group Inc.

The Canadian Investment Regulatory Organization (CIRO) has issued a new investor alert on the persistent impersonation of Highgate Group Inc. (Highgate) by scammers. Despite the CIRO’s previous warnings to raise awareness, these scams continue to target unsuspecting individuals.

According to the CIRO, fraudsters are currently operating through three known fraudulent websites—highgatetrading.com, highgatetradingai.net, and the newly identified HGTradingai.net—to deceive and solicit funds from investors. These websites falsely claim to represent Highgate, a CIRO-regulated firm. However, Highgate’s only legitimate online presence is the domain www.highgategroup.ca. CIRO has warned investors to consider any other website as fraudulent.

The scammers use sophisticated tactics, including impersonating Highgate’s executive team, subtly altering the firm’s head office address, and establishing trust through multiple personal interactions.

In a recent incident, a Canadian couple fell victim to a scammer posing as a representative of Highgate through the fraudulent website HGTradingai.net. The couple had already transferred funds before being advised to halt further transactions and take protective measures.

CIRO noted a rise in impersonation schemes where fraudsters falsely claim to represent legitimate firms and CIRO-registered members. The regulatory body urges investors to remain vigilant by independently verifying any communication through official contact details available on verified websites. “To safeguard your investments, always exercise caution and diligence. Verify the authenticity of any communication and report suspicious activities to CIRO immediately,” CIRO stated in its warning.