Scoop has an Ethical Paywall
WARNING - Website Investment Scheme
WARNING - Website Investment Scheme - www.endeavorplan.com
The Securities Commission has banned advertising for an investment scheme which appears on the web site www.endeavorplan.com.
This web site appears to be administered by a company in the West Indies called Endeavor Portfolio Corporation Limited. The web site also states that its founder is Mr. Victor Cattermole. We understand that Mr. Cattermole is a New Zealander and resides in Wellington. The scheme invites the public to contribute funds by way of credit card. It is said that these funds are then invested in a British Virgin Islands fund called CSA Absolute Return Fund Limited. This is done through a Hong Kong company. The scheme offers commissions to investors who introduce other investors.
The Commission banned advertising for the scheme because it does not comply with the law. To be offered in New Zealand the scheme must have a registered prospectus and an investment statement. These documents are not available.
The
Commission warns people about committing any money to the
scheme. The Commission warns people generally about
investment schemes that they find on the Internet.
Investments promoted on the Internet must still comply with
New Zealand
law.
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