Swiss Financial Market Supervisory Authority (FINMA) has earlier today added another company to its warning list. The latest addition is Private Online Investment, which offers its services via www.privateonlineinvestment.com.
It is worth mentioning here that FINMA includes in its warning list businesses which it investigates over whether their activities are unlawful or not. Private Online Investment is not entered in commercial register, the watchdog says. The company claims to have a physical office in Zurich, which means that it is obliged by the law to have authorization by Swiss financial regulators to provide investment services.
Private Online Investment shows all signs of a hyip (high-yield investment program). There are various plans for artificially high returns in short periods of time.
The company explains nothing about what will happen to investors’ funds, which indicates that gains for existing investors are most likely coming from investments of new clients.
By placing Private Online Investment on the list, FINMA is highlighting the lack of authorisation and advises the public to shun this business.
To view the official warning, click here.