Victims are reporting what is definitely looking like a Ponzi scheme. Investors placed $15,000 with the Sealand Capital Galaxy Limited's wholly-owned subsidiary SECURECOM MEDIA HOLDINGS LIMITED, and were to receive daily payments, totaling $90,000 over five years, plus Sealand stock. The sales reps were Amir Badawy and Austin Prakesh. Securecom lured investors through a high-pressure marketing event in Dubai at the Atlantis Hotel. Investors who received payments were encouraged to place additional sums with Sealand, but the company divested itself of Securecom in June 2018. Sealand is a Cayman Islands corporation; its stock has had problems; trading was suspended for six months, and currently a share is worth £ 3.25 .
Apparently payments ceased in March, 2017. We have reviewed the documents given to investors, and they confirm the investors' information. Hong Kong investors have reported losses of HK$40m. Asian media are calling it a pyramid scheme.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.