On Thursday (Nov. 7), police arrested 10 people involved in British company Financial.org Taiwanese branch.
According to our source who is related to the Taiwan branch, the reason for the arrest was investors’ complaints and demands to get back their investments ahead of time. Our source from the police, told that arrested Financial.org representatives are suspected in violating fiscal law deceiving investors through an alleged Ponzi scheme.
Earlier Jewish Review reported that Financial.org was a sponsor of British Formula One team Williams (WGF1G.DE) until the end of 2018, for promotional purposes. They organized multiple gala-dinners, promotional and educational events with high-profile entertainers from Taiwan, in Asian and Eastern countries, which apparently has made them credible for investors.
To promote the company, Chief Executive of Financial.org, Arnaud Georges was said to have visited Taiwan multiple times to take part in the promotional events.
Jewish Review reported earlier that some experts relate Chief Executive Arnaud Georges and several top managers of Financial.org to company VGMC, which made news with fraud scandals.
Meanwhile, financial regulators in Britain, Switzerland, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand and the UAE have warned investors about unauthorized investment activity of the companies.
As reported by the Business Times, upon preliminary information, around 2,000 people were affected by the activity of the British company Financial.org in Taiwan. The largest amount lost might reach $1 billion.
Friday, November 22, 2024
