Reality Millions
7th October 2009It has been brought to the Commission's attention that a website has been operating using the trading name of Reality Millions. The site claims that an entity registered as an "International Business and Investment Trust Company" under the name RM Private Trust, also known as ITBG Securities Underwriters Corporation, has its home jurisdiction in the Channel Islands.
The Commission wishes to advise that Reality Millions, RM Private Trust and ITBG Securities Underwriters Corporation are not licensed, registered or in any way authorised to conduct any financial services business in or from within the Bailiwick of Guernsey. Nor are there companies of these names registered within the Bailiwick of Guernsey.
The Commission previously issued a warning about misleading websites containing claims to be able to form "International Business and Investment Trust Companies". The advice relating to those claims still holds true, namely that the Commission does not recognise such entities as having any form of legal standing.
Anyone dealing with such entities, including Reality Millions, is advised to exercise great caution, particularly before parting with any money.
If you require further guidance please contact the Commission's Intelligence Team on (+44 1481 712706).