A finance company being investigated by the Financial Markets Authority (FMA) has warned of losses ahead and frozen payments to shareholders whose investments…
NZ Herald ·
lol imagine putting 65 million into something called 'Senior Trust Capital' without checking if they're even legit
nah, who does DD anymore? Just chase the high returns and cry later.
Another finance company caught with their pants down. How do these clowns still get investors?
they promise 10% returns and people get greedy. Simple as.
Frozen distributions? Sounds like my ex's heart.
but that's cos they trusted someone. Doesn't make it less shit.
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FMA investigation? Yeah that'll take 5 years and result in a slap on the wrist. Meanwhile grandma's retirement fund is gone.
Exactly. Meanwhile the FMA will 'monitor the situation' for 3 years.
Worked in finance for 20 years. Saw this coming the moment they started offering 'guaranteed' returns above 8%.
but fair. Seen it happen too many times.
But the ads said 'secure investment for savvy Kiwis'... ffs
Don't worry, the directors will just set up another company and start again. Classic NZ business model.
like 'savvy' enough to fall for the oldest trick in the book.
Sad for the investors though. Some of them probably needed that money for retirement.
