The following companies have appeared on the relevant regulatory warning websites.
Young Chow Feng Corp. Ltd.
Young Chow Feng Corp. Ltd. is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services. Young Chow Feng Corp. Ltd. using the following addresses:
Huadong, Jiangyan.
and,
New York, NY 10286.
Young Chow Feng Corp. Ltd.'s representatives contact investors by telephone and offer to buy their holdings of shares. However, the investor must first pay a fee in advance. This is an advance fee fraud scheme.
The original warning can be seen at the Finansinspektionen
Option One International
Option One International is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Option One International has a website (www.optiononeinternational.com) using the following address:
Ed. Neptuno local #7,
Via Tumba Muerto,
Ciudad de Panama,
Republica de Panama.
Option One International's representatives contact investors by telephone, cold calling.
The original warning can be seen at the Finansinspektionen
Armstrong & Knight
Armstrong and Knight is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Armstrong and Knight has a website (www.armstrongknight.com) using the following address:
Seefeldstrasse 69,
8008 Zurich,
Switzerland.
Armstrong and Knight's representatives contact investors in Sweden by telephone, cold calling.
The original warning can be seen at the Finansinspektionen
Rothman Capital
Rothman Capital is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Rothman Capital has a website (www.rothmancapital.com) using the following addresses:
Theodor-Huess-Allee 60, 60486 Frankfurt, Germany.
and,
Nybrogate 11, Stockholm 10964, Sweden.
Rothman Capital's representatives contact investors abroad by telephone, cold calling.
The original warning can be seen at the Finansinspektionen
Lambert McMillan Corporation
Lambert McMillan Corporation
80 S 8th Street
Ids Center & Crystal Court Building,
8th Floor Minneapolis,
MN 55402
United States
Ph 612 246 4553
Fax 612 465 2241
www.lambertmcmillan.com
The original warning can be seen at the ASIC website
First Nevada Securities Ltd
First Nevada Securities Ltd. is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
First Nevada Securities Ltd. has a website (www.firstnevadasecurities.com) using the following address:
5300 Scarsdale Circle,
Reno,
NV 89502-9692.
First Nevada Securities Ltd.'s representatives contact investors in Sweden by telephone, cold calling.
The original warning can be seen at the Finansinspektionen
All Property Limited
Pursuant to Article 4 para. 7 of the Bankwesengesetz (BWG; Banking Act), the Financial Market Authority (FMA) is entitled in individual cases to disclose to the general public by publication in the official gazette "Amtsblatt zur Wiener Zeitung", or in any other official bulletin with nationwide circulation, the name of a company not entitled to carry out certain banking transactions (Article 1 para. 1 no. 1 and 7 BWG).
By publication in the official gazette "Amtsblatt zur Wiener Zeitung" of 19 May 2009, the FMA is exercising this right and warns against the conclusion of banking transactions requiring a licence with the following provider:
All Property Limited
Fairmont Tower,
Sheikh Zayed Road
7th Floor 712,
P.O. Box 65886
Dubai,
U.A.E.
Registration Nr. O.F 1268
Phone: 0097-14-312-4095
Fax: 0097-14-312-4098
office@all-property-dubai.com
This provider does not possess a licence issued by the FMA to carry out certain banking transactions in Austria. The acceptance of funds from other parties for the purpose of administration or as deposits (deposit business) as well as trading for one's own account or on behalf of others is therefore not allowed.
The original warning can be seen at the FMA
Euro Credit Group
By publication in the official gazette "Amtsblatt zur Wiener Zeitung" of 05 May 2009, the FMA is exercising this right and warns against the conclusion of banking transactions requiring a licence with the following provider:
Euro Credit Group
04085 Kiev
Prospekt Frunze 22 OF 135
http://eurocreditgroup.com/
This provider does not possess a licence issued by the FMA to carry out certain banking transactions in Austria. The acceptance of funds from other parties for the purpose of administration or as deposits (deposit business) is therefore not allowed.
The original warning can be seen at the FMA
Wednesday, May 27, 2009
Friday, May 15, 2009
Ponzi Style Property Fraud In Italy Uncovered
Major fraud scheme in Italy real estate uncovered
The fraud investigation unit of the Tax Office, the FIOD, has uncovered a major fraud case involving property investments in Italy. The independent supervisory authority for savings, investment and insurance markets (AFM) had reported WSM, a property and project development company, to the Tax Office, claiming that WSM did not conform to the standards set by AFM.
WSM offered to invest in Italian real estate on behalf of 130 private investors. The financial supervisory authority suspected that return on investment was paid with money from new investors. It is estimated that up to ten million euros have been paid by private investors to WSM. The FIOD made two arrests in Amsterdam and Hilversum, after conducting searches in private homes.
The website used by the company was www.wsmbv.com
Story courtesy of Radio Netherlands.
The fraud investigation unit of the Tax Office, the FIOD, has uncovered a major fraud case involving property investments in Italy. The independent supervisory authority for savings, investment and insurance markets (AFM) had reported WSM, a property and project development company, to the Tax Office, claiming that WSM did not conform to the standards set by AFM.
WSM offered to invest in Italian real estate on behalf of 130 private investors. The financial supervisory authority suspected that return on investment was paid with money from new investors. It is estimated that up to ten million euros have been paid by private investors to WSM. The FIOD made two arrests in Amsterdam and Hilversum, after conducting searches in private homes.
The website used by the company was www.wsmbv.com
Story courtesy of Radio Netherlands.
Friday, May 8, 2009
Lehman Brothers Investigation Backed By UK MPs
MPs back investigation into UK Lehman Brothers victims
MPs are rallying round to support the 6,000 UK investors who lost savings when Lehman Brothers collapsed. It is estimated some £200 million is savings was lost be investors who put their cash into structured products that guaranteed their capital.
The average age of the investors is 65. However, small print of the investments hid the fact that "there is a risk that the issuer may fail to meet its obligations". When Lehman Brothers went under all the investors' cash was lost.
The scandal has now reached the attention of MPs – hoping pressure on the government may resolve the problem. An Early Day Motion issued this week by MP Edward Vaizey, shadow minister for culture, calls for an investigation from the Financial Services Authority (FSA).
It states: "This House notes that more than 6,000 people invested more than £200 million of their savings in structured products backed by Lehman Brothers; further notes that such products were marketed as 100 per cent secure by the companies that sold them." Some investors were also unaware that their products were even backed by Lehman Brothers. The victims may be able to receive money by complaining they were missold or not warned of risks to the firms that sold the investments or the Financial Ombudsman Service (FOS).
Currently the FOS is looking at a handful of enquiries, with cases in very early stages.
Courtesy of MyFinances.com
MPs are rallying round to support the 6,000 UK investors who lost savings when Lehman Brothers collapsed. It is estimated some £200 million is savings was lost be investors who put their cash into structured products that guaranteed their capital.
The average age of the investors is 65. However, small print of the investments hid the fact that "there is a risk that the issuer may fail to meet its obligations". When Lehman Brothers went under all the investors' cash was lost.
The scandal has now reached the attention of MPs – hoping pressure on the government may resolve the problem. An Early Day Motion issued this week by MP Edward Vaizey, shadow minister for culture, calls for an investigation from the Financial Services Authority (FSA).
It states: "This House notes that more than 6,000 people invested more than £200 million of their savings in structured products backed by Lehman Brothers; further notes that such products were marketed as 100 per cent secure by the companies that sold them." Some investors were also unaware that their products were even backed by Lehman Brothers. The victims may be able to receive money by complaining they were missold or not warned of risks to the firms that sold the investments or the Financial Ombudsman Service (FOS).
Currently the FOS is looking at a handful of enquiries, with cases in very early stages.
Courtesy of MyFinances.com
Monday, May 4, 2009
Investment Warning - Updates
The following investment firms have been added to the respect financial regulator warning lists.
Liberty Advisory Group Inc
Kredittilsynet has been informed that Liberty Advisory Group Inc
1440 Broadway Suite
2304 New York,
New York
10018
Has approached Norwegian investors offering to purchase shares on their behalf subject to payment of an advance fee. The company also offers services from a website www.libertyadvisorygroup.com
Kredittilsynet wishes to make it clear that Liberty Advisory Group Inc is not authorised to provide investment services in Norway, and therefore lacks the licence required under Norwegian law. The company is consequently not subject to Kredittilsynet’s supervisory oversight, nor has Kredittilsynet approved the services offered by the company. Kredittilsynet therefore recommends investors not to enter into agreements with or transfer assets to Liberty Advisory Group Inc.
Peterson & Jones Associates
Peterson and Jones Associates has been added to the UK's FSA warning list. Unfortunately no further information is available.
Verein Zukunft Neu
Pursuant to Article 4 para. 7 of the Bankwesengesetz (BWG; Banking Act), the Financial Market Authority (FMA) is entitled in individual cases to disclose to the general public by publication in the official gazette "Amtsblatt zur Wiener Zeitung", or in any other official bulletin with nationwide circulation, the name of a company not entitled to carry out certain banking transactions (Article 1 para. 1 no. 1 BWG).
By publication in the official gazette "Amtsblatt zur Wiener Zeitung" of 28 April 2009, the FMA is exercising this right and warns against the conclusion of banking transactions requiring a licence with the following provider:
Verein Zukunft Neu
Mooslackengasse
171190
Vienna
www.zukunft-neu.eu
This provider does not possess a licence issued by the FMA to carry out certain banking transactions in Austria. The acceptance of funds from other parties for the purpose of administration or as deposits (deposit business) is therefore not allowed.
Dufresne and Andy International
Dufresne and Andy International is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Dufresne and Andy International has a website (www.dufresneandandyint.com) using the following address:
1535 Broadway,
New York,
NY
10036
USA.
Dufresne and Andy International's representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company. However, the investor must first pay a fee in advance, "Restriction Fee per Unit". This is an advance fee fraud scheme.
Knoll Ridge Group
Knoll Ridge Group is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Knoll Ridge Group has a website (www.knollridgegroup.com) using the following address:
205 South 49th St.,
Atlanta,
GA,
United States.
Knoll Ridge Group's representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company. However, the investor must first pay a fee in advance, "Margin Equity". This is an advance fee fraud scheme.
Pacific Rim Wealth Management
Pacific Rim Wealth Management is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Pacific Rim Wealth Management has a website (www.pacificrimwealthmgmt.com) using the following address:
16 Westlands Road,
Hong Kong.
Pacific Rim Wealth Management's representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company, World Wide Child Care Corp. (WWCC) formerly International Child Care Corp. (ICCR)
Morgan Singleton Associates
Morgan Singleton Associates is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Morgan Singleton Associates has a website (www.morgansingleton.com) using the following address:
PO Box 62889,
Seattle,
Washington,
98381-1926,
USA.
Morgan Singleton Associates' representatives contact investors by telephone and offer to buy their holdings of shares in an OTC company, Phoenix Biologicals.
Milton Willard Financials
Milton Willard Financials is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Milton Willard Financials has a website (www.miltonwillard.com) using the following address:
500 North Michigan
Suite 303,
Chicago,
Illinois
60611
United States.
Milton Willard Financials' representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company, Interact-TV, Inc. (ITVI).
Liberty Advisory Group Inc
Kredittilsynet has been informed that Liberty Advisory Group Inc
1440 Broadway Suite
2304 New York,
New York
10018
Has approached Norwegian investors offering to purchase shares on their behalf subject to payment of an advance fee. The company also offers services from a website www.libertyadvisorygroup.com
Kredittilsynet wishes to make it clear that Liberty Advisory Group Inc is not authorised to provide investment services in Norway, and therefore lacks the licence required under Norwegian law. The company is consequently not subject to Kredittilsynet’s supervisory oversight, nor has Kredittilsynet approved the services offered by the company. Kredittilsynet therefore recommends investors not to enter into agreements with or transfer assets to Liberty Advisory Group Inc.
Peterson & Jones Associates
Peterson and Jones Associates has been added to the UK's FSA warning list. Unfortunately no further information is available.
Verein Zukunft Neu
Pursuant to Article 4 para. 7 of the Bankwesengesetz (BWG; Banking Act), the Financial Market Authority (FMA) is entitled in individual cases to disclose to the general public by publication in the official gazette "Amtsblatt zur Wiener Zeitung", or in any other official bulletin with nationwide circulation, the name of a company not entitled to carry out certain banking transactions (Article 1 para. 1 no. 1 BWG).
By publication in the official gazette "Amtsblatt zur Wiener Zeitung" of 28 April 2009, the FMA is exercising this right and warns against the conclusion of banking transactions requiring a licence with the following provider:
Verein Zukunft Neu
Mooslackengasse
171190
Vienna
www.zukunft-neu.eu
This provider does not possess a licence issued by the FMA to carry out certain banking transactions in Austria. The acceptance of funds from other parties for the purpose of administration or as deposits (deposit business) is therefore not allowed.
Dufresne and Andy International
Dufresne and Andy International is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Dufresne and Andy International has a website (www.dufresneandandyint.com) using the following address:
1535 Broadway,
New York,
NY
10036
USA.
Dufresne and Andy International's representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company. However, the investor must first pay a fee in advance, "Restriction Fee per Unit". This is an advance fee fraud scheme.
Knoll Ridge Group
Knoll Ridge Group is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Knoll Ridge Group has a website (www.knollridgegroup.com) using the following address:
205 South 49th St.,
Atlanta,
GA,
United States.
Knoll Ridge Group's representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company. However, the investor must first pay a fee in advance, "Margin Equity". This is an advance fee fraud scheme.
Pacific Rim Wealth Management
Pacific Rim Wealth Management is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Pacific Rim Wealth Management has a website (www.pacificrimwealthmgmt.com) using the following address:
16 Westlands Road,
Hong Kong.
Pacific Rim Wealth Management's representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company, World Wide Child Care Corp. (WWCC) formerly International Child Care Corp. (ICCR)
Morgan Singleton Associates
Morgan Singleton Associates is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Morgan Singleton Associates has a website (www.morgansingleton.com) using the following address:
PO Box 62889,
Seattle,
Washington,
98381-1926,
USA.
Morgan Singleton Associates' representatives contact investors by telephone and offer to buy their holdings of shares in an OTC company, Phoenix Biologicals.
Milton Willard Financials
Milton Willard Financials is not authorised by Finansinspektionen (the Swedish Financial Supervisory Authority) and is therefore not entitled to provide financial services.
Milton Willard Financials has a website (www.miltonwillard.com) using the following address:
500 North Michigan
Suite 303,
Chicago,
Illinois
60611
United States.
Milton Willard Financials' representatives contact investors by telephone and offer to buy their holdings of shares in an American OTC company, Interact-TV, Inc. (ITVI).
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