Financial Regulators of Italy, UK and British Columbia warn in relation with investment firms 

The financial regulators of Italy Commissione Nazionale per le Società e la Borsa (Consob), UK Financial Conduct Authority (FCA) and the British Columbia Securities Commission (BCSC) have issued warnings to inform public and investors regarding investment firms.

CONSOB Italy

The Commissione Nazionale per le Società e la Borsa (Consob) has adopted four prohibition orders to protect investors in relation to public offering to persons resident in Italy of “association in participation” contracts promoted by the British company Vgm Business Ltd and advertised through numerous websites, already suspended for 90 days as a precautionary measure (see “Consob Informs” No. 38/2105). In particular, Consob has prohibited:

• under the terms of Art. 99, paragraph 1, lett. d), of the Consolidated Law on Finance – CLF, the public offering to persons resident in Italy of “association in participation” contracts carried out by Vgm Business Ltd without the required authorisations through the websites www.investimentiimmobiliariinghilterra.com, www.investimentiimmobiliariamerica.com, www.investimentiimmobiliarigermania.com and www.vgm-business.com (Resolution No. 19475 of 22 December 2015);
• under the terms of Art. 101, paragraph 4, lett. c), of the CLF, the advertising activity, carried out by Monopoli Trade Ltd without the required authorisations through the website www.monopoli-trade.com and the associated page of the social network Facebook www.facebook.com/Monopoli.Trade, relating to the offering, to persons resident in Italy, of “association in participation” contracts, promoted by Vgm Business Ltd (Resolution No. 19476 of 22 December 2015);
• under the terms of Art. 101, paragraph 4, lett. c), of the CLF, the advertising activity, carried out by Mr Vincenzo Piccolo without the required authorisations through the website www.moneylaundering.it, relating to the public offering, to persons resident in Italy, of “association in participation” contracts, promoted by Vgm Business Ltd (Resolution No. 19477 of 22 December 2015);
• under the terms of Art. 101, paragraph 4, lett. c), of the CLF, the advertising activity, carried out by Mr Alessio Cavalieri without the required authorisations through the website www.investimentiimmobiliarivincenti.it, relating to the public offering, to persons resident in Italy, of association in participation contracts, promoted by Vgm Business Ltd (Resolution No. 19478 of 22 December 2015);

The Commission has also adopted:

• a measure of suspension for a period of 90 days, under the terms of Art. 99, paragraph 1, lett. b), of the CLF, in relation to the public offering, to persons resident in Italy, of investments of a financial nature carried out without the required authorisations through the website www.vgm-business.eu (Resolution No. 19479 of 22 December 2015).
• a measure of suspension for a period of 90 days, under the terms of Art. 99, paragraph 1, lett. b) of the CLF, regarding the public offering, to persons resident in Italy, of “guaranteed investment contracts of Amicus Investment Ltd” carried out without the required authorisations through the website www.amicusinvest.com (Resolution No. 19474 of 22 December 2015).

FCA UK

FCA UK warns regarding the Firm George Banco (clone).

Clone firm details

Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:

George Banco (clone of FCA authorised firm)

Tel: 0161 818 2223

Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.

FCA authorised firm details:

This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is registered to provide financial services in the UK and its correct details are:

Firm Name: George Banco.com Limited
Interim Permission no: 662983
Address: The Blue Building, Dairy House Farm, Stubbs Lane, Beckington, Frome, Somerset, BA11 6TE
Website: www.georgebanco.com
E-mail: info@georgebanco.com
Telephone: 0122 594 1941

BCSC Canada

BCSC informs that recently became aware of an advertisement placed by Schmidt & Hammond, which purports to have an office in London, England, and offers to trade on behalf of clients in investment opportunities that promise high returns.

According to BCSC, Schmidt & Hammond is not registered to trade in, or advise on, securities or exchange contracts in BC.

BCSC urges BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.

Source: CONSOB, FCA, BCSC

 

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