Clifton Consulting Group LLC27th April 2021
The Commission has been notified of an unsolicited approach that was made to a Guernsey resident by representatives of the above-named company. The company, which claims to be based in New York, is said to provide trading services in respect of shares and other securities.
The company representative offered to arrange to buy shares that were held by the Guernsey resident at a price far higher than the market value. The Guernsey resident was sent a “confidential memorandum of non-disclosure” to complete and was asked to pay for a bond supposedly as part of the purchase agreement. Payment instructions were for an account at a bank in Indonesia. Fortunately the approach was recognised as being an attempted fraud and no losses were incurred.
The promotion of a controlled investment in the Bailiwick of Guernsey constitutes a restricted activity under the Protection of Investors (Bailiwick of Guernsey) Law, 1987, as amended. Clifton Consulting Group LLC is not licensed to conduct such activity.
Bailiwick residents are reminded to exercise extreme caution when dealing with any cold-calls offering financial services and are advised to only deal with properly licensed businesses.