Final answer:
A forex scam is a deceitful investment operation, one notable example being the Mount Real Corporation scandal in Canada that involved falsified financial statements and operated like a Ponzi scheme, causing substantial investor losses.
Step-by-step explanation:
A forex scam is a fraudulent investment scheme that promises high rates of return on foreign currency trading with little or no risk. One infamous example in Canada is the collapse of the Mount Real Corporation. The key elements of this scam included the misrepresentation of financial statements and the use of new investors' money to pay returns to earlier investors, characteristics of a Ponzi scheme. It resulted in significant losses for investors and made national headlines due to the scale of the fraud.