Safe Or Scam has started an investigation into the activities of Financial Plus Ltd operating out of Hong Kong. We were approached by an investor who invested substantial sums to purchase shares in Spotify, Alipay and Tesla through Financial Plus. It was a scam. The Share Certificates are fake and the investor owns no shares in these companies.
The scam involves dozens of Hong Kong companies acting as cash mules for the people behind Financial Plus. The mule companies are incorporated solely for the purpose of opening bank accounts and taking in money for the scammers. They act as cut-out companies in an attempt to make it more difficult to follow the money trail.
The scam involves follow-up activities using other fake organisations who will claim they are holding the shares. They will then offer to sell the shares for a fee. It is the same people.
When the non-existent shares are supposedly sold for at least 10 times the price the investor paid, another fake organisation will claim that they are holding this huge sum of money and will release it after the investor pays the tax (normally 10% of the profit). All the investor has to do is send them the tax money and they will process it. It is the same people again.
We have published a new website on the Financial Plus scam. It can be viewed here