New scam targets Australian investors
A new cold calling operation is threatening Australian investors, this time in the form of alleged scammers posing as representatives of a non-existent United States brokerage firm.
The Australian Securities and Investments Commission (ASIC) is investigating the firm, Millennium Futures, which it suspects is using the identity of a legitimate non-clearing member firm of the New York Mercantile Exchange.
Millennium Futures claims to be a member of the non-existent New York Petroleum Option Exchange and a full-service brokerage firm dealing in commodity, futures and options trading.
However, Millennium Futures is not registered with ASIC and is therefore not authorised to provide financial services in Australia.
Complaints regarding Millennium Futures or other investment scams should be lodged with ASIC.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
