The Financial Market Authority (FMA) has issued a new caution for the investment community and locals in New Zealand. The caution issued by the Financial Market Authority is surrounding Goldridge Investment Limited.
The regulatory authority has reasons to believe that Goldridge Investment Limited may be involved in unregulated and fraudulent activities. The firm is reportedly involved in offering investment and financial services plans that are unrealistic and too good to be true.
The firm is also claiming that it is offering very high returns that are also considered unrealistic by any legit financial services provider.
The Financial Market Authority has also confirmed that the particular firm is not regulated. The firm is not authorized or registered at the Financial Market Authority to offer financial services to the users.
The Financial Market Authority has also revealed that the firm has adopted legal information of a registered firm in New Zealand. The firm has done this to cover its true identity and bring more users from New Zealand to their platform.
Warning against Goldridge Investment Limited
The Financial Market Authority has issued a warning against the firm that it is involved in offering unauthorized services and products to the locals in New Zealand.
The authority has warned the locals that the platform may be running a scam. It is using the details of an authorized platform in order to build trust among the New Zealand-based users.
This way, it is reportedly bringing in many investors onboard from New Zealand. The Financial Market Authority has urged all the investors to deal with the platform with caution and do not interact with it.
Goldridge Investment Limited is not authorized
The Financial Market Authority has warned the locals that Goldridge Investment Limited is not authorized. For Goldridge Investment Limited to offer financial services and securities to the locals of New Zealand, it has to be registered in New Zealand.
In New Zealand, the only authority that registers financial service providers is the Financial Market Authority. The Financial Market Authority has confirmed that the firm never approached them for registration or authorization for offering their services in New Zealand.
Thus, Goldridge Investment Limited is offering its services in an unregulated manner, which is very unsafe and has no legal protection. This means that it is running a scam and it can result in a rug pull at any time.
Goldridge Investment Limited is copying an Authorized Firm
The Financial Market Authority has also confirmed that apart from running a scam, Goldridge Investment Limited is also using business details of an authorized firm in New Zealand.
The fraudulent firm has picked up the name of a legal and authorized firm from New Zealand. The name of the registered firm is Goldridge Investments Limited (GIL).
The fraudulent firm is also using the registration number and it is also using similar website details claiming it is part of Goldridge Investments Limited.
As per the Financial Market Authority, the address and the registration number offered by Goldridge Investment Limited are copied from GIL.
Goldridge Investment Limited has also Copied Information from aust-mtic.com
The authority has also confirmed that the firm has also used information and photos from an Australia-based investment firm. The full name of the company is Australasia-Mining Trade & Investment Corporation Pty Limited.
The particular firm from Australia runs a website that is “aust-mtic.com” and the fraudulent firm has adopted photos from there. With such information, the firm has been misleading the investors and may continue doing so.
More False Claims by Goldridge Investment Limited
The firm has also claimed that the Bank of New Zealand has underwritten its Lantern Insurance. The website that the firm has provided is goldridgeinvestmentlimited.com. The email address for the firm is firstname.lastname@example.org.
The regulatory has warned all the investors not to invest money through the firm. The investors will have no protection if their funds end up getting stolen by the firm.