Investors Warned Away from “Profitable Sunrise”

The Tennessee Securities Division warns that an online investment scheme that seems too good to be true probably is.

Profitablesunrise.com advertises short-term investment plans with rates of return ranging from about one and a half to almost three percent each day. But officials say the British company that runs the site isn’t registered to buy or sell securities, and the Tennessee addresses it lists are fake.

Regulators discovered the potential scam when a customer in North Carolina tried to make an investment. She was instructed to route her money through a questionable numbered account in the Czech Republic; when she tried to do so, details of the transfer raised red flags for workers at her credit union.

A number of states are issuing investment alerts about Profitable Sunrise. North Carolina has gone farther, issuing a Cease and Desist order.