Intermediaries are being warned against overseas investment scams that offer spectacular returns o...
Intermediaries are being warned against overseas investment scams that offer spectacular returns over short periods of time and that require sending large amounts of money to different countries. Stephen Kerbel, director general at Ofta, the trade body for offshore financial advisers, said: "People are still getting trapped by these types of overseas scams. If it sounds to good to be true it certainly is." New Zealand investors recently lost $1m in funds in an overseas scam that promised returns of 500% in six to eight weeks. The funds were paid to the Equity Solutions Group on the ...
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