Last week, the Financial Conduct Authority (FCA) listed Investec Capital Corporation in its latest batch of warnings about “clone” companies posing as legitimate FCA approved businesses, in an attempt to con UK consumers into making up front payments.
According to the regulator, fraudsters based in New York are using the name Investec Capital Corporation in a “boiler room cold calling operation” designed to foster trust in would be victims.
In response to this wave of fraud, Investec has said on its website: “Please be aware we would not give advice or cold call members of the public. We also would not act as broker or provide post-trade and information services.”
The fraudsters have been using a fake website www.investeccapitalcorpinc.com and Investec has listed the following names of those purporting to be employees of Investec Asset Management Ltd or any other Investec Group Company: Anthony Scott, Justin Lang, Natalie Hudson and Michael Turner.
On the Investec website, it has also listed a public warning about anyone receiving email correspondence from a bogus company, calling itself INVESTEC LOANS.
Last November the FCA reported that fraudulent clone companies were on the rise, and last week’s list demonstrates it shows no sign of abating.
Other companies listed last week included a London-based company called KA Financial Services, a clone of EEEA authorised Kaspar Adolf, China International Corporation Capital Ltd, UK RBB Barclays Business, a clone of Barclays Bank and Danske Capital, a clone of an FCA authorised firm.
The FCA also warned against doing business with Edward Windsor, a “bogus employee” of legitimate firm Pictet Asset Management Ltd. They also warned that Evergreen Private and Trust plc is falsely claiming to be authorised by the Regulator.
In response to another clone company sending out emails from a London office, Investec pointed out that they do not offer loans.
Last week, it also emerged that Investec is considering selling off many of its underperforming assets, including its UK-based mortgage lender Kensington, in a plan to boost its shares. Investec bought the company for £283 million in 2007 just before the start of the recession.
If you receive an unsolicited call or email from anyone claiming to be from Investec Asset Management Limited or another Investec Group Company, please either contact your usual Financial Adviser or alternatively contact Investec via email on [email protected] or telephone +44 (0) 207 597 1900.
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