The UK’s regulator the FCA is well known for its tight and firm regulation over the financial market and in particular the firms wishing to operate in its jurisdiction as well as for its commitment to protecting the rights of investors. Within this framework it offers issues warnings against firms, either because they are not authorized to offer their services in the UK but still they target UK clients or because they try to deceive prospective investors by fraudulently “cloning” the sites or licenses of other legitimate firms, while they are nothing more than scammers.
It is interesting to note that in the past three days only, the FCA has issued a total of six such warnings, 3 against clone firms and 3 against unauthorized entities. This big number is indicative not only of the regulator’s determination to keep a stronghold over the situation and relentlessly hunt down the crooks, it is also revealing of the vast numbers of fraudsters, who keep trying to deceive people and also do so unnoticed by the pertinent authorities.
In a nutshell, the three cases of clone firms which the FCA has warned the public against are:
1st Clone firm details
Name: Schwarz Oliver Thomas (clone of EEA authorised firm)
Address: 6923 Lauterach, Dammstrabe 4, AUSTRIA
Telephone: +43720116467, +85258086603
Website: http://www.schwarzoliverthomas.com/
As pointed out by the FCA the above mentioned firm is “cloning” an EEA authorized firm, but “the EEA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or product in the UK and its correct details are:
Firm name: Schwarz Oliver Thomas
Firm reference number: 443430
Address: 6923 Lauterach, Dammstrabe 4, AUSTRIA”
2nd Clone firm details
Name: Cruiser Trading Co Ltd / CST (clone of FCA authorised firm)
Address: Chase Business Centre, 39-41 Chase Side, Southgate, London, N14 5BP
Email: [email protected]
Website: http://www.cstforex.com
Be aware that the scammers may give out other false details or mix these with some correct details of the authorised firm.
The correct details of the FCA authorised firm that is being “cloned” in this case are:
Firm name: CST Wealth Management Limited
Firm reference number: 602496
Address: 2 Oldfield Road, Bocam Park, Bridgend, CF35 5LJ
Tel: 01656 867 167
Fax: 01656 867 168
Email: [email protected]
3rd Clone firm details
Name: Houlihan Lokey (clone of FCA authorised firm)
Address: 36 Pall Mall, London, SW1Y 5LU
Tel: 02031292137
Fax: 02031294901
Email: [email protected]
FCA authorised firm details, being cloned:
Firm name: Houlihan Lokey (Europe) Limited
Firm reference number: 208153
Address: 83 Pall Mall, London, SW1Y 5ES
Tel: 02078393355
Fax: 02078395566
Email: [email protected]
Website: http://www.hlhz.com
Moreover, as already mentioned, the FCA has also warned against three firms which have been targeting people in the UK without being authorized to offer any sort of financial services in the jurisdiction. The firms in question are:
1. Burton Capital Partners
Address: 1540 Broadway, New York, NY 10006, United States
Tel: 02031292137
Fax: 02031294901
Email: [email protected], [email protected], [email protected]
Website: http://www.burtoncapitalpartners.com, http://www.bcp.com
2. Crown Capital Management
Address: 18th Floor Pacific Place, JL Jend, Sudirman, Jakarta, 12190, Indonesia
Tel: +912136292213, +622125555969, +12136292221
Email: [email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
Website: www.crowncapitalmanagement.com
3. Migham Credit Finance Limited
Address: 2330 Broad Street, Birmingham, B15 1AY
Website: http://www.mighamcrditgroupltd.com
According to the relevant FCA warning this latter firm is falsely claiming to be FCA authorised.
