ASIC warns of new cold call operation

australian securities and investments commission

27 June 2008
| By Sara Rich |

The Australian Securities and Investments Commission (ASIC) believes it has identified a cold call operation attempting to convince people to invest in non-existent options.

The regulator has warned investors to be wary of callers representing Macmar Investment Corporation and Global Options S.A trying to spruik commodities such as gold, petrol, oil and gas.

ASIC claims both companies are not legitimate entities, nor are they authorised to provide financial services within Australia, however the Macmar identity appears to have been stolen from a legitimate firm in the US which is not connected with the cold call operation.

A number of Australians have already been enticed by the offer and have transferred funds to a bank account located in Hong Kong.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 day ago

Interesting. Would be good to know the details of the StrategyOne deal....

5 days 5 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 3 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 5 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

4 days 3 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

3 days 6 hours ago