Whitbourne RCMP Warn of Possible Investment Scam, Urge Potential Victims to Come Forward

Whitbourne RCMP are investigating a reported investment scam involving a man who allegedly approached residents while posing as a registered financial planner and promising unusually high returns on cash investments.

Police say they received a report on Jan. 26 from a concerned citizen who was approached by the man in the Whitbourne area. The individual reportedly claimed to be a financial advisor and requested cash investments of up to $100,000.

The suspect is described as a man in his 50s who claims to be from the Gander area. He has introduced himself using variations of the names Warren and Bennett, including Bennett Warren and Warren Bennett.

RCMP caution that the man is not a registered financial advisor and does not have the ability to invest funds or provide legitimate returns.

While no victims have come forward so far, police believe others in the area may have encountered the individual. Anyone who believes they may have been contacted is asked to call Whitbourne RCMP at 709-759-2600.

The Canadian Anti-Fraud Centre reminds the public to be cautious of unsolicited investment offers and to watch for common warning signs, including promises of higher-than-normal returns, high-pressure tactics, requests for cash or cryptocurrency payments, and fake investment or cryptocurrency websites.