The victims told police that they have been able to contact either business because all phone numbers and emails have since been disconnected. Police allege that the sales agreements signed by the victims were never fulfilled by the companies and that the victims were left with gemstones valued at a fraction of what they were purported to be worth. The victims told police that the representatives offered them “generous returns” on their original gemstone investments if they began marketing with them.ĭuring the marketing process, police say the representatives told the victims that they could earn even greater investment returns if they purchased additional gemstones or traded in their existing gemstones for more expensive – and highly sought after – ones.Įventually, the representatives told the victims that they had found a prospective buyer and presented them with sales agreements which allegedly indicated “promising sizable returns” on their investments. Police say the representatives targeted victims who had previously bought gemstones from the defunct company. At, we’ve seen a recent burst of reports regarding fraudsters finding victims through smart televisions. Those contacted by the fraudulent companies had originally bought gemstones as an investment from Global Royalties Limited, which is no longer in business. Just like any other device connected to the internet, TV’s can be a vector for scammers to use to try and steal money or personal information from their victims. Toronto police are warning the public about an alleged scam in which fraudsters offer jewelry buyers sizeable investment returns on trading gemstones but leave victims with cheaper stones.Īccording to police, in each case, the suspects present themselves as representatives from companies called “Royal Fine Jewels” or “Nygard & Associates” and claim to be in the business of jewelry or fine gem sales and marketing.
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