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Public Statement 15 of 2023 - Royal Investment Consortium

Public Statements


Royal Investment Consortium
Royal Trading Consortium

Tortola, British Virgin Islands - 26 July 2023 - The British Virgin Islands Financial Services Commission (the "Commission") considers it necessary to issue this Public Statement in order to protect the customers, creditors or persons who may have been solicited to conduct business by Royal Investment Consortium and/or Royal Trading Consortium and to make the general public aware that the entities have never been licensed or regulated by the FSC to carry on any type of financial services business.

The details are:

Royal Investment Consortium and/or Royal Trading Consortium (the "Entities"), through the website address, are soliciting persons to invest funds in Private Banking, Offshore Banking, Wealth Management and other regulated financial services business and are falsely purporting to provide company formation services in multiple countries and jurisdictions including the Territory of the Virgin Islands. Only persons licensed and regulated by the Commission can provide company formation services and carry on investment business in or from within the Territory.

The Entities have also been circulating an "Investment Agreement" soliciting persons to invest in a short-term Investment Program, which promises a guaranteed return of 40% profit on a 6-week investment. The public is strongly advised to avoid engaging in any financial services transactions with the Entities. The Investment Program, promising a return far in excess of market rates, is a scam. The public is warned that all such investment activities are regulated, and persons wishing to carry on such business in or from within the Territory are required to be approved and licensed by the Commission.

The Commission hereby informs the public that Royal Investment Consortium and Royal Trading Consortium are not, and have never been, licensed or regulated to carry on investment business, or any other type of financial services business, in or from within the Territory.

Members of the public are advised to exercise extreme caution if solicited at any time to conduct business with Royal Investment Consortium and/or Royal Trading Consortium. The public is invited to provide the Commission with any relevant information on any questionable entities which are purportedly operating in or from within the Territory and on any improper activities engaged in by such entities.

The Commission has issued this Public Statement pursuant to Section 37A of the Financial Services Commission Act, 2001.