ALERT 2002-10	
ALERT	

Subject:      Internet Banking Fraud
Description:  Fictitious Digital Investment Certificates

Date:         August 19, 2002

TO:  Chief Executive Officers of All National Banks; All 
     State Banking Authorities; Chairman, Board of 
     Governors of the Federal Reserve System; Chairman, 
     Federal Deposit Insurance Corporation; Conference of 
     State Bank Supervisors; Deputy Comptrollers 
     (districts); Assistant Deputy Comptrollers; District 
     Counsel and Examining Personnel

RE:  Maryland Investments Club in group with Excalibur 
     Capital Management, Inc., Toronto, Canada

The Canada Deposit Insurance Corporation (CDIC) has 
advised North American investors and depositors of an 
apparent Internet fraud scam falsely involving CDIC.  A 
person or group of persons carrying on business as the 
Maryland Investments Club is offering investment 
certificates called "digital investment certificates" for 
sale over the Internet. These certificates are purported 
to be held electronically and guaranteed in full, by the 
CDIC. 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.

Please see the warning notice at the CDIC Web site:
[ http://www.cdic.ca/?id=287&contid=184&count=0 ].

Any information that you have concerning this matter 
should be brought to the attention of:

Your local office of the Royal Canadian Mounted Police, 
and, Bob Quinn
     Director, Communications and Public Affairs
     Canada Deposit Insurance Corporation
     Phone: (613) 943-1971
     E-mail: bquinn@cdic.ca



Gerard J. Sexton
Assistant Director, Enforcement & Compliance Division

Attachment: CDIC warning notice (see Web site above)