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Immediate release	
	

CDIC Warns of Internet Investment Scam


OTTAWA, August 13, 2002... The Canada Deposit Insurance 
Corporation (CDIC) today advised North American investors 
and depositors of an apparent internet fraud scam falsely 
involving CDIC that is currently underway.

A person or group of persons carrying on business as the 
Maryland Investments Club is offering cashable guaranteed 
investment certificates called "digital investment 
certificates" for sale over the Internet. These 
certificates are purported to be issued by MD Private 
Trust Company and are said to be held electronically and 
guaranteed in full, by the Canada Deposit Insurance 
Corporation. This is not the case. The signature of CDIC's 
General Counsel, Gillian Strong, on any Maryland 
Investments Club documentation is a forgery. The 
certificates falsely bear the Government of Canada 
wordmark and the logo of the Canada Deposit Insurance 
Corporation.

CDIC is a Canadian Crown corporation established by the 
Parliament of Canada in 1967 to provide deposit insurance 
against the loss, in whole or in part, of deposits with 
member institutions in the event of their failure. CDIC 
does not issue or hold investment certificates of any kind 
for any person.

To date, two investors in the United States have purchased 
false digital investment certificates. 

CDIC has turned this matter over to the Royal Canadian 
Mounted Police commercial crimes section for further 
investigation and has informed authorities in the United 
States. Depositors and investors who wish to ensure their 
deposits are insured by CDIC should first determine 
whether the institution issuing the investment or deposit 
certificate is  a member of CDIC and if so, should then 
determine whether  the investment or deposit account is 
eligible for deposit insurance by asking to see the 
deposit register for the member institution.

CDIC insures over $330 billion (Cdn) of deposits at member 
banks, trust companies and loan companies.  To be eligible 
for insurance, deposits must be in Canadian currency, 
payable in Canada, and repayable on demand or no later 
than five years from the date of deposit.  Eligible 
deposits up to $60,000 per depositor at each CDIC member 
are insured.

To find out if a financial institution is a CDIC member, 
depositors can call CDIC directly at 1-800-461-2342, or 
check the CDIC Web site at www.cdic.ca.

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For information:	Bob Quinn
			Director, Communications and 
			Public Affairs
			(613) 943-1971
			bquinn@cdic.ca