FMA warns public to be wary of misleading advertising promoting “risk-free, money-back investments”

 

Media Release
MR No. 2015 – 05
27 February 2015

The Financial Markets Authority (FMA) is warning people to beware of a company offering a risk-free, high-return investment programme.

The company trades as Eco Investments Group and the FMA warns anyone dealing with them to exercise extreme caution before obtaining any financial services, or acquiring any financial products.

The FMA says that Eco Investments Group is regularly advertising in New Zealand newspapers offering what it says are guaranteed, high-returns for relatively little investment. The FMA has received several complaints about the company.

Eco Investments Group is neither registered nor licensed to provide financial services in New Zealand.

The FMA has contacted the company requesting them to stop advertising in New Zealand and has made contact with New Zealand newspaper publishers urging them to decline the company’s advertisements.

Elaine Campbell, FMA Director Compliance said: “Any company promoting so-called risk free investments should set alarm bells ringing for consumers - especially when they offer exceptionally high returns on investments and a money-back guarantee.

“If it sounds too good to be true, then it probably is, and we don’t want consumers to lose money unnecessarily when there are well-regulated products and services available from reputable providers in New Zealand.”

The FMA encourages investors to seek professional financial advice that is personalised for their own circumstances.

Eco Investments Group operates two websites: www.ecoinvestmentgroup.com andwww.ecovexcoinvestmentgroup.com/

Ends

Contact:
Shae Skellern
09 300 0­465
021 847 192
shae.skellern@fma.govt.nz