Investor Alerts - unreasonably witholding client funds

Company: unreasonably witholding client funds
Regulator: Financial Markets Authority
Jurisdiction: New Zealand
Date: 20240327 27 Mar 2024
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

Comments: We are aware of an investor who has invested through the platforms and is unable to withdraw the funds they invested. These platforms have denied the investor access to withdrawals unless upfront fees are paid. Access to withdrawals remained unavailable even after the fees were paid, and further fees were demanded. These are the common features of a scam.

We would like to advise that these platforms are not associated with the New Zealand registered entity, Trademax Global Markets (NZ) Limited (NZBN: 9429046269300).

We recommend caution when dealing with these platforms.

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