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Zoey_JD
Zoey_JD, Criminal attorney
Category: Fraud Examiner
Satisfied Customers: 23518
Experience:  Active member of the NYS bar since 1989
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Can you tell me more about a company called strongoaks risk

Customer Question

Hi can you tell me more about a company called strongoaks risk managment limited.
Submitted: 1 year ago.
Category: Fraud Examiner
Expert:  Zoey_JD replied 1 year ago.
Hello,
My name is ***** ***** I will be assisting you with your question.
Strongoaks Risk management is an investment firm. The site was registered on may 2, 2013. The website IP address traces to Australia. The company is using a proxy server to hide the identity of the site owner and its actual location. You can see this by going to www.domaintools.com and running the company website's WHOIS.
The company claims to be located in Hong Kong. However, it is not located on ICRIS, which is the government agency that keeps the business filings and annual tax records for all lawful Hong Kong companies. That's a huge red flag.
https://www.icris.cr.gov.hk/csci/cns_search.jsp
This company's site calls itself a leading independent financial firm that has been around since 1990. There is absolutely no evidence of that and, in fact, no evidence that this company really exists at all.
I believe you are the target of a boiler room investment fraud.
A boiler room investment fraud is characterized by unsolicited contact from a so-called foreign investment broker who uses high pressure techniques to lure you into what he assures you will be a lucrative investment deal. Then he will run off with your money leaving you with worthless stock or with nothing at all except a large deficit in your bank account.
Here's what you need to know:
Any time you get an unsolicited investment opportunity from a so-called foreign broker, it is going to be a fraud. The international investment community is filled with warnings about cold callers. Soliciting abroad is just not what any legitimate financial firm does. It is illegal and the #1 sign of an investment fraud.
The boiler room scam comes in two versions:
In the first version, you are told about a time-sensitive investment opportunity and pressured to make a very quick decision. So you buy shares, wire the firm your money and by the time you realize a year or so later you've been taken advantage of your "firm" has disappeared into thin air and your money along with it.
The second version is when a foreign financial firm reaches out to you and claims to be looking to buy your old worthless stock at a tremendous profit. The figures the agent bounces around are impressive and they tell you that the offer will quickly disappear. You don't get much time to dwell on this if you want to make this deal which promises to be very lucrative for you. They are hoping you will be so motivated to recoup your previous losses that you will jump at the opportunity, even though it will cost you an up front fee to complete the deal, because they tell you that there is money you must pay out first from your own pocket in order to release your shares for sale.
The fact is that you NEVER have to pay money out of pocket in order to sell your shares. This is a lie that sounds good enough to fool the uninitiated, but it simply isn't true. When the money in their offer to you is going the wrong way, from you to them, that's always a scam.
Pay them and you will lose a great deal of money and get nothing.
If this sounds familiar to you, and I'm sure it will, cease all contact with these and any other foreign firms that seek your business. They are all frauds. Send no money.
Investing is highly regulated. In order to be able to make you a legal offering, this company needs to be registered lawfully with its own country's financial services authority and authorized by yours to trade in France. This company is NOT.
Your country's AMF warns that if a financial firm is not on their list of financial institutions authorized to operate in France, you should avoid them. You can find that list here:
www.regafi.fr, and, of course, Strongoaks isn't there.
You should notify the AMF about Strongoaks so that they can post an alert on their site and warn your countrymen of the fraud.