igetmania-logoJust twenty-four hours after the publication of our comprehensive iGetMania review, Canadian regulators have now issued a warning against investing in the company.

Officially titled “Warning – Caution regarding GetEasy and iGetMania investment program”, the notice was published on the Autorité des marchés financiers (AMF) website on January 26th.

For those unfamiliar with the regulator, the AMF

is the body mandated by the government of Québec to regulate the province’s financial markets and provide assistance to consumers of financial products and services.

Targeting both GetEasy (Portugal) and iGetMania (England), the AMF write:

The Autorité des marchés financiers (“AMF”) is cautioning investors in Québec about an investment program connected to the Portuguese firm GetEasy Limited and the British firm iGetMania Limited.

The AMF wishes to inform investors that GetEasy and iGetMania have not filed a prospectus and are not registered with the AMF in any capacity.

Investors should therefore be very cautious with investment offers from these firms since they might incur losses for which remedies are highly restricted or non-existent.

The AMF is closely monitoring this matter and will take any measures deemed necessary in the event of violations under the laws it administers.

What with iGetMania being little more than the latest attempted incarnation of the GetEasy Ponzi scheme, one would expect further regulatory action against the company should the scheme take off in Canada.

At the time of publication, Canada does not appear to be a major source of investor funds for iGetMania. As per Alexa’s estimated traffic statistics to the GetEasy and iGetMania website domains, Canada does make the top 5 traffic sources to either domain.

France is estimated to account for 19% of traffic to the iGetMania website domain and 10.2% to of traffic to the GetEasy website domain.

The AMF’s warning suggests iGetMania investors in France might now be actively targeting the French-speaking community in Canada.

Stay tuned…

 

Footnote: Hat tip to to BehindMLM reader “Niksam” for the heads up.