Fraud Watch – Genius Funds
original article written by Net Advisor™
Someone asked us whether a company called “Genius Funds” was legit or not?
The company boasts on their website the following statement:
“Receive up to 25% per month and be able to withdraw capital or interest at any time.”
The company says they have a “150 day lockout period.” This is where if you invest you agree to not request you money back or any part of it until 150 days has past. Lockup periods are common by hedge funds for up to a year, but one needs to investigate who they are dealing with before sending in any money. Any investment with the words “lock out” should be carefully examined.
Registrant: Genius Investments 6 Karaiskakis Street Limassol, Cyprus 3032 CY 44 200 222 7598 Fax:44 207 855 0844 Administrative Contact: Stelvio, Mark email@example.com
We searched U.S. government public data bases and found the following:
2. Genius Funds state they have trading symbol (EMGF), however if this is true, they are not listed on any USA market. EMGF is showing as European Managed Growth Fund apparently based in the (island) country of Guernsey and allegedly founded in 1998. We believe this said European Managed Growth Fund has nothing to do with any so called Genius Funds.
4. The company claims to pay 1-6%+ per day. We’ll that would beat every mutual fund and hedge fund manage by 100′s of percent of their best year ever. The company thus claims they can produce a 365% to 2,190% a year with no losses. This is a bogus claim.
5. We cannot verify anything related to a Mr. Mark Stelvio.
6. We also found general complaints on scam.com with the following phone numbers listed as:
Tel (Europe): +357 25 025067
Tel (Asia/Pacific): +86 213 100 3050
Fax (Global): +44 207 855 0844
Our conclusion is that this is nothing more than investment hype, investment fraud, a money scam, and or pyramid scheme.
Copyright © 2011 Net Advisor™