Investor Alerts - Brownprime
| Company: | Brownprime |
| Regulator: | Financial Markets Authority |
| Jurisdiction: | New Zealand |
| Date: | 01 Oct 2023 |
| Link: | https://www.fma.govt.nz/library/warnings-and-alerts/brownprime/ |
| Subject: |
Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.) Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements Miscellaneous |
| Comments: |
We are aware that a New Zealand resident who has invested through Brownprime is having difficulties in withdrawing funds. We are concerned that the operation of Brownprime has the features of scam based on the following: Promotion of unrealistic high returns; Upfront fees are required to process withdrawal transactions; and Its website displays a certificate of incorporation of an entity with a different business nature. Brownprime offers cryptocurrency services but is not registered to provide financial services here in New Zealand. We recommend exercising caution when dealing with Brownprime. Entity Name: Brownprime Websites: https://brownprime.com Business Address: 26 Cheering Lane, Suite 401, Stratford, London, UK E20 1BD |