New Zealand Financial Markets Authority added Clearing Falcon Group Limited, Genuine Progress Index Limited and Yunma Tianlong International Consulting Co., Limited, Karatbars International GmbH, Karatbit Foundation and associated companies, Gold Standard Bank, Freebay, Sixon Investments, ISB Global Miners, Paradox Therapeutics, Jack Reid, Nick Wiseman, William Andrews, Dr. Michael Bennett, Nathan Yao and Endeavor Capital Partners.
The New Zealand regulator has advised people to operate with caution when dealing with the foreign exchange dealers due to concerns they may be involved or operating a scam.
The regulator reported the following details of the two companies:
Clearing Falcon Group Limited, Genuine Progress Index Limited and Yunma Tianlong International Consulting Co., Limited
Also known as: Golden Hrwk, BTCUSDT Investments, GPI, GPI Markets
Website(s): https://clearingfalcon.com/, https://www.gpimarkets.com/
Address: Unit G25 Waterfront Studios, 1 Dock Road, United Kingdom E16 1A, London
Phone(s): +1 440 219 1655, +44 7786 836864, +852 6415 4346
Email(s): [email protected], [email protected]
The FMA noted that Clearing Falcon Group Limited (CFG) approached New Zealand resident via WhatsApp and Tinder regarding investment opportunities. Genuine Progress Index Limited (GPI) is also approaching individuals via Facebook with trading opportunities. The regulator also stated that investors have been having difficulties withdrawing their investments held with these entities.
Neither CFG nor GPI are registered financial service providers in New Zealand, nor are they authorised to offer financial services/products to New Zealand residents.
Both CFG and GPI are incorporated in the United Kingdom and list Yunma Tianlong International Consulting Co., Limited (Yunma) as their Company Secretary, which they share with Knight Service Group and Business Choice Group Limited, entities that the FMA has previously warned about.
The regulator provided details of the bank account used by CFG and GPI:
Account Name: Liangfu Tang
Account Number: 2161945220
Bank Name: East West Bank (United States of America)
Account Name: Dai Feng
Account Number: 056 499015 221
Bank Name: HSBC Bank (Singapore) Limited
FMA also noted that CFG and its associated entities are requesting for payments via cryptocurrency and the recipient of a cryptocurrency transaction cannot be easily traced and the New Zealand regulator recommends caution when using this mode of payment.
Karatbars International GmbH, Karatbit Foundation and associated companies, Gold Standard Bank, Freebay
Also known as: Gold Standard, GSPartners, GS Bank, G999, Karatbars Leaders and Investors Pool International, Karatbars Digital Stock Exchange, KC Bank Miami, KC Bank Hong Kong Gold Trading, Karatbit, KCB Coin and KBC Coin.
Websites: https://www.karatbars.com/, https://www.gspartners.global/, http://dev.goldstandardbank.group/index.html#, https://gstrade.exchange/, https://g999main.net/
Emails: [email protected], [email protected], [email protected], [email protected], [email protected]
Phone: +49 (0)711 / 128 970 00
Address: Neue Mainzer Straße 52-58, D-60311 Frankfurt am Main Germany
The FMA warns about Karatbars International GbmH, Karatbit Foundation and associated companies as they are not registered companies or financial service providers in New Zealand. The regulator notes that seminars have been held in both Auckland and Christchurch. The FMA also points out that Karatbars is associated with Freebay and Gold Standard Bank.
The following overseas regulators have cautioned the public about Karatbars:
BaFin (German Federal Financial Supervisory Authority)
Financial Sector Conduct Authority (FSCA), South African regulator
British Columbia Securities Commission
Autorite des Marches Financiers (AMF), Quebec
Bank of Namibia (BoN)
Emails: [email protected]; [email protected]; [email protected]; [email protected]; [email protected]
Phone: + 354 867 6142, +1 (315) 236 4909, +1 587 418 4762
The FMA stated that they have received reports that Sixon Investments are offering unrealistically high returns and are requesting further payment before withdrawals can be made, and if further payment is not received, all returns will be forfeited.
The Financial Supervisory Authority of the Central Bank of Iceland (FSA) has published a warning, noting “it does not recognize Sixon Investments as an authorized or regulated entity in Iceland. Sixon Investment’s website refers to an Icelandic company … that company does not recognize any involvement with Sixon Investments”. Sixon Investments is not a registered financial service providers in New Zealand or licensed by the FMA.
ISB Global Miners (also known as: Waxco Trading)
Website: www.isbglobalminers.com; www.waxcotrading.com
Email: [email protected]; [email protected]; [email protected]
Address: 2208 S 3rd Ave, Yuma, Arizona, USA
Phone: +1 929 220 3641; +1 213 419 8000
The FMA reported that ISB Global Miners has offered cryptocurrency trading services through their agent to a New Zealand resident and requested for upfront payment before allowing withdrawal of the investments. The business address in Australia which Waxco Trading purports to be operating from is false.
Thelephone: NZ: 027 209 2058
Email: [email protected]
The FMA noted that Paradox Therapeutics representatives have made unsolicited calls to New Zealand residents offering investment in the entity.
Paradox Therapeutics is not a registered financial service provider in New Zealand or licensed by the FMA. The company does not operate at the NZ address provided for its business.
Individuals purporting to be from Essence Securities Co., Ltd.
Individuals: Jack Reid, Nick Wiseman, William Andrews, Dr. Michael Bennett, Nathan Yao
Emails: [email protected] , [email protected], [email protected], [email protected], [email protected]
Phone: +85258080140, +85281911248, +85281256584
The FMA shared concerns that individuals purporting to be from Essence Securities Co., Ltd., Shenzhen are cold calling New Zealand residents and may be operating a scam. Offering financial products via cold calling is illegal in New Zealand, most cold callers are likely to be scams.
Individuals include Jack Reid, Nick Wiseman, Dr. Michael Bennett and Nathan Yao. However, please note these are potentially fake names or names used without permission and that individuals operating scams will often change their names. Passports were provided to prove identity but were duplicated and therefore one or both are fraudulent.
The individuals are not registered financial service providers in New Zealand or licensed by the FMA.
The FMA advises that before engaging with any individual purporting to be from Essence Securities Co., Ltd., contacting Essence Securities Co., Ltd. directly from their contact details provided on website essence.com.cn.
The regulator provided details of the bank account used by the individuals:
Account number, 22806002213
Location, Walla Walla, United States
TAISHIN INTERNATIONAL BANK CO., LTD.
Account number, 017756091738
Endeavor Capital Partners
Address: 1710 First Avenue, New York, NY USA 10028
Email: [email protected]
Phone: +1 347 535 1260
The FMA has received reports that US based Endeavor Capital Partners is making unsolicited contact with New Zealand residents. The company is not a registered New Zealand Company and is not registered to provide financial services in New Zealand.