The Prime Forestry Group, which describes itself as “an innovator in forestry partnerships” and is supposedly based in Switzerland, has been sending unsolicited letters, colourful brochures and emails to Maltese consumers, enticing them with “investment opportunities” offering “annualized returns up to 14% and more”.
The Malta Financial Services Authority (MFSA) would like to warn the public that Prime Forestry Switzerland AG and its subsidiaries (sometimes also known as the “Prime Forestry Group”) are not regulated under the relevant financial services and company legislation in Malta.
The MFSA urges Maltese investors who have been contacted by the Prime Forestry Group to treat its offers with the utmost caution, to analyse any documentation provided by the company with great care and vigilance, and to seek professional advice before committing funds for investment.
As the necessary registration and authorisations are lacking, it may not be possible to ascertain the standing of the company or the truthfulness of its “investment opportunities”.
Investors who transact with the Prime Forestry Group are not protected by the local financial services legislative and regulatory framework, nor is their investment covered by the Investor Compensation Scheme.
Similar warnings about the Prime Forestry Group have already been issued by a number of foreign financial regulators including those in Australia, the UK and France.
To find out whether a company is authorised by the MFSA, visit www.mfsa.com.mt .
For the most up-to-date list of warnings about unauthorised entities, please visit www.mfsa.mt, then click on “Warnings”.