PUBLIC ALERT – Fraudulent Investment Scheme: WORLD WAY CAPITAL

Download Here – Public Alert _ Fradulent Investment Scheme _ World Way Capital _ 09.08.19 

 

 

The Securities and Exchange Commission (“SEC”) has become aware of a fraudulent investment scheme being promoted by WORLD WAY CAPITAL LP (“WWC”) and its associates, including a MR. SERGIU VALUTA on behalf of DELACROIX ENTERPRISES LTD. We understand that WWC was or is still being promoted via seminars and presentations and have had reports of statements being made that may be either unsubstantiated and/or false and misleading, WWC is not regulated in Zambia by any of the three financial sector regulators and as such WWC is not authorized to conduct financial services business in Zambia.

 

SEC also notes the recent warning by the Bank of Canada (“Bank”) informing the public that WWC is presenting a fraudulent Deposit Guarantee/Investor Compensation sheet dated February 2019 to potential investors, purporting that the Bank will guarantee deposits (in US$ and cryptocurrencies). WWC is also presenting a false partnership agreement with the Bank dated January 29, 2018. This fraudulent investment scheme misrepresents the Bank and makes use of the Bank’s name, identity, logos, trade-marks and letterhead without authorization. The Bank has no partnership agreement with WWC. The Bank does not accept deposits nor does it guarantee any deposits or investments with WWC or any other company. The Bank has no connection to this scam.

 

The Investing public is advised to be smart and wary of any investments that offer guaranteed or above average returns. To this end, to reduce investment fraud and other related risks, investors are advised to do the following:

ü Ask Questions. Fraudsters are counting on you not asking questions. Do your own due diligence by doing an independent research on the investment scheme or products being offered to you. Do not be in a hurry to invest.

 

ü Verify that the intermediary, i.e. the Dealer (broker or fund manager) and/or Investment Adviser or the person selling you the product is licensed: It does not matter whether you know the person socially. As an investor, it is important to deal with a SEC licensed Dealer or Investment Adviser. SEC licensees are required to follow supervisory rules and regulations that are put in place to safeguard the interests of investors by mitigating risk exposures to investments. Do not shy away from demanding to see a requisite SEC licence.

 

ü Conduct research on a product before you invest: this enables you to assess the level of risk associated with the investment and the expected return thereby guiding you in selecting the most favourable investment. Unsolicited emails, messages and all manner of adverts should not be the sole basis for your investment decisions. Understand a company’s business and its products or services before investing. If need be, consult a duly SEC licensed broker/Dealer and/or Investment Adviser. Do not fail to ask the right questions.

Issued on 8^th August, 2019

 

Phillip K. Chitalu

CHIEF EXECUTIVE OFFICER

 

Tel     : +260-211-227012/222369

Email : info@localhost