We recommend caution when dealing with Sovereign Bank of Aotearoa/Ko Te Peeke o Aotearoa/ Sovereign B O A Ltd/ISKCON Bank (collectively SBOA) and its website kotepeekeoaotearoa.com.
SBOA is not a registered bank and it is not supervised by the Reserve Bank of New Zealand or any other New Zealand authority. It is not authorised to use the word ‘bank’ in its name ‘Sovereign Bank of Aotearoa’ or the word ‘peeke’ in its name ‘Ko Te Peeke o Aotearoa’. It offers lending and other financial services, but it is not registered to provide these, as required by New Zealand’s financial markets legislation.
SBOA is offering unrealistically high returns on investments (e.g. $100 a day for investment between $1000 and $3000), with no details on how it generates the income needed to provide such high returns.
SBOA is promoting its scheme through social media channels, using Facebook and Telegram to send invitations to private online seminars or hui.
Due to SBOA’s use of the name Ko Te Peeke o Aotearoa, te reo Māori in promotional materials, and its use of the flag of the Te Kara o Te Whakaminenga o Nga Hapu o Nu Tireni, we are concerned it is targeting Māori. Statements made by SBOA’s promoters indicate the organisation may also be targeting Indian and Chinese communities.
We recommend exercising caution when engaging with the SBOA, or any persons claiming to be associated with SBOA.
Entity Name: Sovereign Bank of Aotearoa/Ko Te Peeke o Aotearoa/Sovereign B O A Ltd/ISKCON Bank
Website: Kotepeekeoaotearoa.com
Address: 4a Masters Road, RD 1, Waiuku, New Zealand
Email: [email protected]
View in Te Reo Māori - Sovereign Bank of Aotearoa/Ko Te Peeke o Aotearoa/Sovereign B O A Ltd/ ISKCON Bank - Haumi ohiti, peeke rēhita kore/ ratonga ahumoni.
