CIRO Updates Alert on Highgate Group Impersonation Scam: New Imposter Website Identified

The Canadian Investment Regulatory Organization (CIRO) has expanded its warning to investors about ongoing impersonation scams targeting the CIRO-regulated firm Highgate Group Inc. (Highgate). The updated alert flagged a new fraudulent website, HGTradingca.com, which joins previously identified domains—highgatetrading.com, highgatetradingai.net, and HGTradingai.net—used by scammers to deceive and solicit funds from investors. These imposter domains falsely claim to represent Highgate.

In one recent case revealed by the CIRO, an individual deposited $1,000 with HGTradingca.com after clicking on an advertisement on Yahoo Finance's homepage. Upon discovering CIRO's investor alert, the individual contacted the regulator to verify the legitimacy of the website, uncovering the scam.

These scammers operate by impersonating Highgate’s executive team, making minor alterations to the firm’s official address, and building trust through repeated personal conversations. Such tactics are designed to mislead investors into believing the schemes are legitimate.

CIRO has observed a rise in impersonation scams, with fraudsters falsely claiming to represent compliant firms and registered CIRO members. 

Investors are urged to remain vigilant, avoid transferring funds to unverified websites, and take precautions against such schemes. CIRO strongly advises verifying any communication by directly contacting the firm through its verified website and official contact information.