Published on November 8th, 2013 | by Eamon Dillon0
“You wanna be rich…?” Bogus investment firm on the go.
Bogus investment firms are on the go again in Ireland. At least it’s a sure sign the economy is starting to fire. Today the Central Bank issued a statement warning about an unauthorised company Specialist Investor Funds, which has been operating in the State. They have copied the details of a legitimate firm with a similar name which has absolutely no connection to the cowboy operators. As the Bank points out anyone suckered by the boiler room scams isn’t covered by their compensation scheme:
“It is a criminal offence for an unauthorised firm to provide financial services in Ireland that would require an authorisation under the relevant legislation for which the Central Bank is the responsible body for enforcing. Consumers should be aware that, if they deal with a firm which is not authorised, they are not eligible for compensation from the Investor Compensation Scheme.”