The Autorité des marchés financiers (the “AMF”) is urging investors to exercise caution in light of recent solicitations in the Montréal area by Michael Mitton, who has repeatedly been sanctioned for making illegal distributions. Michael Mitton is currently soliciting investments under the name Mike Cypress as a consultant for the firms Cytron Capital Group and Petrichor Energy.
Michael Mitton, known for having used other aliases, including Mike Matt, is not registered with the AMF and therefore is not entitled to solicit investments in Québec. The AMF has filed an application for a reciprocal order with the Bureau de décision et de révision, which will hear the application on August 25, 2015. This application is intended to broaden the scope of orders issued by the securities commissions of British Columbia, Alberta and Ontario to Québec.
Don’t become a victim: Report fraud
Whether on the Internet or in person, offering investments is a regulated activity. The person or company asking for your money must be registered with the AMF. Don’t become a victim of fraud. Make sure you check whether the person or company is in the register of firms and individuals authorized to practise.
If you believe you have been approached by Michael Mitton to invest in Cytron Capital Group and Petrichor Energy or you think you have detected a scam, contact the AMF Information Centre. Your information could help the AMF better protect consumers.
Visit the AMF website for other advice on how to prevent fraud.
The Autorité des marchés financiers (the “AMF”) is the regulatory and oversight body for Québec's financial sector.