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28 May 1998
News Release
WARNING : TRANS CAPITAL (EURO) LIMITED - LEVERAGED INVESTMENT PROGRAMME
412
People should exercise great care before making any financial commitment to Trans Capital (Euro) Limited or Trans Capital Limited.
Advertisements for investments associated with these companies have been banned by the Securities Commission because they do not comply with the law.
The advertisements promote products which claim that "investors funds are never put at risk". The products include:
- Trans Capital (Euro) Limited Leveraged Investment Programme
- Trans Capital Limited Leveraged Investment Programme
- the sale and purchase of Bank Debenture Instruments
- Capital Secure Deposit Bonds
- Risk Free Capital Accumulation
- Profit Funding (Deposit) Loan Transactions.
The advertisements invite people to invest a minimum of $50,000 for 12 months at an interest rate claimed to currently return "4% per month (48% on an annualised basis)".
These claims are not realistic. They are not made in accordance with the law, in the opinion of the Securities Commission. They are not substantiated as the securities law requires.
The Act requires the advertisement to be in the form of an investment statement or to refer to the availability of an investment statement. A registered prospectus is also required.
Trans Capital (Euro) Limited is based in Hastings. Graeme William Moyle is the "Governing Director". East Coast Trustee Company Limited is the sole shareholder acting as trustee for the Moyle Family Trust. The investment programme has been promoted by John Bowman of The Mortgage Centre in Taradale, Hawkes Bay.
The Commission is acting under the authority of section 38B of the Securities Act 1978 in prohibiting the advertising.
John Farrell
Chief Executive
Contact:
Catherine Chapman, Communications Officer, 04 472 9833 ext 840