Public Statement 3 of 2020 - B.O. TRADEFINANCIALS LTD. and TRUSTCOIN24 INVESTMENT TEAM INC. (2020-03-04)

Summary

This is a public warning notice issued by the BVI Financial Services Commission on 4 March 2020, alerting the public that B.O. TRADEFINANCIALS LTD. and TRUSTCOIN24 INVESTMENT TEAM INC. have never been registered, licensed or regulated in the British Virgin Islands to carry on investment business or any other financial services business.

• Fraudulent conduct: The two entities have been circulating forged investment business licences bearing the FSC's logo, falsely claiming to be authorised and licensed in the BVI to deal in or arrange deals in investments.
• Public advisory: The FSC advises members of the public to exercise extreme caution if solicited to conduct business with either entity.
• Reporting invitation: The public is invited to provide the FSC with any relevant information on questionable entities purportedly operating in or from the Territory, or on improper activities by such entities.
• Legal basis: The statement is issued pursuant to Section 37A(2) of the Financial Services Commission Act, 2001.

The notice is purely informational and protective in nature; it does not impose compliance obligations on regulated entities but warns the public and industry about an unauthorised and fraudulent operation using forged FSC documentation.

Applies to

general public, persons solicited by B.O. TRADEFINANCIALS LTD. and TRUSTCOIN24 INVESTMENT TEAM INC.