Public Statement 4 of 2023 - Royal Investment Consortium or Royal Trading Consortium (2023-05-19)

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission (FSC) on 19 May 2023, under Section 37A of the Financial Services Commission Act, 2001. It alerts the public that Royal Investment Consortium and/or Royal Trading Consortium, operating via the website royalinvestmentconsortium.com, are not and have never been licensed or regulated by the FSC to conduct any financial services business in or from the BVI.

• Unlicensed solicitation: The entities are soliciting investors for private banking, offshore banking, wealth management, and falsely claiming to offer company formation services in the BVI and other jurisdictions.
• Investment scam warning: The entities have circulated an Investment Agreement promising a guaranteed 40% profit on a 6 week investment, which the FSC identifies as a scam given returns far exceeding market rates.
• Public advisory: The FSC advises the public to exercise extreme caution and avoid financial transactions with these entities, and invites the public to report information on questionable entities or improper activities.

The notice is purely informational and protective in nature; it does not impose ongoing compliance obligations on licensed entities but serves to warn the public and market participants about an unauthorised operator.

Applies to

general public, persons soliciting or considering investment business in or from the BVI