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Fraudulent Business - Dundee Wealth Management AG (JFSC warn of an impersonating entity) [29 July 2022]

30/07/2022

The JFSC has warned the public against dealing with unauthorised financial service providers.

The JFSC says Dundee Wealth Management AG is an impersonating entity and is not authorised to conduct financial service business within the FS(J)L meaning.

The impersonating entity,

  • Via the email address and website, is falsely purporting to provide investment business services whilst claiming to be regulated by the JFSC.
  • Falsely utilising the incorporation number of a former Jersey-registered company, Dundee Management Ltd (RCD117141).

The JFSC confirms the following:

  1. The impersonating entity, the website and email address are not connected to the former Jersey-registered company, Dundee Management Ltd, whose registered office address was 17 Bond Street, St Helier, Jersey JE2 3NP.
  2. The impersonating entity HAS NEVER been registered nor applied for registration under the FS(J)L. Therefore any financial service business, as defined in Article 2 of the FS(J)L and carried out by the impersonating entity, is in breach of Article 7 of the FS(J)L.
  3. From documentation held by the JFSC, they are all warning signs of being set up for fraudulent purposes.
    • The impersonating entity,
    • The email address and
    • The website display

Source

https://www.jerseyfsc.org/news-and-events/dundee-wealth-management-ag-the-impersonating-entity/

KEY FACTS ASSCOITED TO THE ABOVE
  • Financial Services (Jersey) Law 1998 (FS(J)L)
  • The JFSC issues this public statement under Article 25(d) of the FS(J)L.
  • Dundee Wealth Management AG (the impersonating entity)Dundee Wealth Management AG (the impersonating entity)
  • Dundee Wealth Management AG (the impersonating entity)
  • investorservices@dundeewealthmgmt.co (the email address)
  • dundeewealthmgmt.co (the website)

JERSEY