Alliance Capital Asset Management, Deal, scam ?

[jamie2009]

On 9/15/2017 at 12:15 PM, dutchkev said:

Hi,

any more news on Alliance ? did anyone actually invest ?

Strangely enough they have been in Email contact with me recently the guy who I was dealing with died and another one of their Representatives got in touch with me to enquire if I was still interested in investments

[KittenKong]

13 hours ago, cyberfarang said:

One main concern, what happens if the company closes or is taken over, do my investments go with it?

You have nothing to worry about on that score: your money will be gone long before the company closes.

Edited August 7, 2018 by KittenKong

[KhunKenAP]

Guys

 

This is an old post, but Alliance Capital is still out there and pushing their Fixed Interest Savings. Sounds like a good deal with a 10% annual return on their 15-year product.

 

As many of the earlier responses point out there are many problems with their product literature. In the main product description, they have this statement, to try and convince the buyer that their initial investment is safe. Copied directly from their information.

 

     "Available from 01August 2017: Additional regulatory protection via Gibraltar FSC regulated Experience      Investor Fund available for Accumulate clients over GBP50,000 on a voluntarybasis" (poor proof reading)

 

I checked with the Gibraltar FSC agency, and this was their response by email:

 

"

Sam Vatvani <[email protected]>

To:

‎May‎ ‎29 at ‎3‎:‎23‎ ‎PM

 

Dear Mr Thompson

 Many thanks for your email.

 I can confirm Alliance Capital are not authorised or regulated by the GFSC, nor are they undergoing licence applications to become authorised or regulated by the GFSC.

 

Kind regards

Sam Vatvani

Manager
Authorisations

Gibraltar Financial Services Commission
PO Box 940
Suite 3, Ground Floor
Atlantic Suites
Europort Avenue
Gibraltar

Tel: (+350) 200 40283
Fax: (+350) 200 40282
E-mail: [email protected]
Web: www.gfsc.gi   "

 

Many red flags. The old adages of "Buyer Beware" and "If it's to good the be true, it usually is", comes to mind.