The OSC has received dozens of complaints about unsolicited (spam) e-mails to investors promising an opportunity to get rich quick, but which are nothing more than fraud.

Recipients of these e-mails are told that the sender is either a high-ranking government official or the close relative of a high-ranking government official from a developing country. As a result of some financial miscalculation, the sender has millions of dollars languishing in a bank account that they cannot touch without the recipient's assistance. In return for this assistance, the recipient is promised a portion of the funds, usually 20 percent. All the recipient has to do is demonstrate their good faith by either depositing a sum of money in a bank account (which the sender can access) or by faxing company letterhead and information on the recipient's bank account. The sender then drains the bank account.

While the majority of e-mails claim to originate from Nigeria, the source of the e-mails could just as easily reside anywhere else in the world. The Central Bank of Nigeria has issued a press statement subtitled "don't be fooled! Many have lost money," which warns persons not to be fooled by persons claiming to be associated with the Government of Nigeria. Because the operators of these scams usually reside outside of the country in which they are soliciting, prosecuting such cases is difficult.

The use of e-mails to rejuvenate this old scam demonstrates the power of the Internet. In the past the scam artists had to individually address and arrange postage for the letters. With e-mail, a simple computer program, and a list of e-mail addresses the same letter can be sent to thousands of recipients at a fraction of the cost.

Any unsolicited e-mail which offers you an opportunity to get rich quick should be viewed with suspicion. People promoting sure-fire stock tips, the latest multi-level marketing scheme or easy access to locked-in funds often have their own get-rich-quick scheme - they get rich by taking your money.

If you receive this type of offer, report it to PhoneBusters at 1-888-495-8501 or their website at http://www.phonebusters.com. Contact the Ontario Securities Commission toll free at 1-877-785-1555 for further information.