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Screenshot of a breaking news alert e-mail from Q2 2017
Russia’s Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), an FX body seeking to obtain an official status of a Forex self-regulatory organization, has added one more company to its “Black List”, which features entities having the characteristics of financial pyramids.
The latest addition to CRFIN’s “Black List” is Tokyo Investment Group, operating via https://www.tokyoinv.com/.
The company promises artificially high returns to investors – up to 1.1% per day, with the referral bonus program being rather generous too. There are also no guarantees for payments of returns, as the business model lacks the necessary transparency.
The company is also misleading its clients by using terms like “deposits” which refer to banking activities, which require specific licenses awarded from the Bank of Russia. And the company does not have such licenses.
CRFIN warns the potential customers of Tokyo Investment Group that there are high risks of losing their investments.
After the addition of Tokyo Investment Group to CRFIN’s “Black List”, it features 52 companies.
For the full announcement from CRFIN, click here.