Penticton resident scammed of $34,000

Police are once again warning people not to invest money in things that appear much too good to be true.

Police are once again warning people not to invest money in things that appear much too good to be true.

According Cpl. Wrigglesworth an unidentified local man is out $34,000 after giving the money to the unlicensed binary options broker Ivory Options. The victim in this case was unable to get his money back.

“We are reminding the public not to give money away and also to have those conversations with any elderly parents,” said Wrigglesworth. “There’s the transition in life where these professional people are retired and enjoy retirement and have their big nest eggs and at some point people — they could be in their 60’s or they could be in their 90’s — can start to make poor decisions because it’s human nature to trust others.”

Ivory Options is reportedly owned by Arianus Marketing in Anguilla and their payment processor is Patryn Ltd. and Wrigglesworth added if these names come up people should have second thoughts about their investment.