Investor Alerts - Flipearners
| Company: | Flipearners |
|---|---|
| Regulator: | Financial Markets Authority |
| Jurisdiction: | New Zealand |
| Date: | 03 Dec 2024 |
| Link: | https://www.fma.govt.nz/library/warnings-and-alerts/flipearners/ |
| Subject: | Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.) Regarding Emerging Digital Threats including ICOs and crypto-assets |
| Comments: | We understand Flipearners provides trading services in crypto, crypto binary and stocks. Flipearners operation has the hallmarks of a scam, in particular: they unreasonably withhold client funds; and they asked an investor to pay unnecessary fees to continue trading. We are aware of a New Zealand resident who invested with Flipearners. The investor is not able to withdraw the funds they invested, and the entity ceased communication with the investor when requesting a withdrawal. Flipearners is not registered to provide financial services in New Zealand. It is therefore operating in breach of New Zealand financial markets legislation. We recommend exercising caution when dealing with Flipearners. Entity: Flipearners Website: flipearners.com Email: [email protected] |
