FSC: Bulgarians Are Using the Name of a Danish Company to Lure Investors with Bogus Offers

The Financial Supervision Commission (FSC) has issued a warning following a notification from the Danish financial regulator that Bulgarian nationals are using the name of a licensed Danish financial company to attract investors with fictitious financial offers.

In a letter to the media, the Commission warned investors of a potential investment scam being carried out using the name and corporate identity of ‘ArthaScope Kapitalforvaltning’ A/S.

Acting in the company’s name, Bulgarian nationals have organised meetings with potential investors to discuss investment opportunities. They have even created an imitation website using the domain name ‘ArthaScope — Extend your business across Europe’.

The Danish company has warned that it has no branch, representatives or any business operations in Bulgaria.

It also has no connection whatsoever with the individuals behind these activities or with the website ‘ArthaScope — Extend your business across Europe’. Nor has it authorised anyone to offer investment services or arrange meetings on its behalf in Bulgaria.

The company’s only official website is ‘ArthaScope | Din formue i godt selskab’, the FSC said.

The Commission has urged investors not to rely on information provided during such meetings. It also reminded the public that anyone considering investing in financial schemes can check whether the companies involved are legitimate and authorised by the relevant regulatory authority to provide the services in question.

This can be done through the FSC website at www.sfc.bg or the website of the European Securities and Markets Authority (ESMA).

The Commission has urged anyone who has already met, or has been invited to meet, the purported representatives to cease all contact with them, given the risk of financial losses.

Anyone suspecting fraudulent or criminal activity should report it to the relevant authorities – the Ministry of Interior and the Financial Supervision Commission.