RBF cautions on investing in Ecovexco Investment Group

People have been advised not to invest in Ecovexco Investment Group as there are strong indications that it is an investment fraud.

Governor of the Reserve Bank of Fiji, Barry Whiteside said this company has been advertising investment opportunities through the local newspapers.

Whiteside said the company has not obtained an approval for such investment ventures and any offshore investment by any individual in Fiji requires the prior approval of RBF.

He said the company promises investors huge returns of up to 15 times their capital investment in high risk sectors such as foreign exchange brokerage, oil, gas and gold exchange.

RBF is also aware that notices of investment caution have been issued against Ecovexco Investment Group by securities regulators in British Columbia and Canada where the company also attempted to solicit investment funds from the public without seeking necessary prior approval.

RBF has made a check with the Australian Securities and Investment Commission and the Australian Companies Office have revealed that the company was not registered and is not based in New South Wales, Australia as stated in the newspaper advertisement.