Frenchy's owner advertising illegal investment opportunity, province warns
CBC News | Posted: January 15, 2016 8:09 PM | Last Updated: January 15, 2016
Service NL is warning the public not to invest in Bambi Land Inc, an unregistered company it says is illegally advertising in the Telegram and on social media.
Bambi Land Inc. is owned by Israt Khan, the Frenchy's owner accused of making threats to customers and mistreating employees.
On Friday, Khan took out an ad in the Telegram telling readers, "Double your money with me in five months! Minimum admin fees applies and deducted at the end. 10 per cent plus ROI investment."
A similar ad was posted on Bambi Land Inc's Facebook page in mid-November.
Service NL says that neither Bambi Land Inc. nor Khan has ever been registered to solicit or trade assets, making the investment offer illegal.
"As they are unregistered entities, Bambi Land Inc. and Israt Khan are prohibited from acting, advertising, soliciting, conducting or negotiating directly or indirectly in furtherance of the trade of securities in the Province of Newfoundland and Labrador," Service NL said in a news release.
Anyone who has put money into Bambi Land Inc. was asked to contact Service NL.
Anyone who has put money into Bambi Land Inc. was asked to contact Service NL.
Khan hung up on CBC News Friday when contacted for comment.