Warning – Forestry Investments Illegally Offered
Warning – Forestry Investments Illegally Offered by NZ Forestry Investments Limited
The Securities Commission has banned advertisements for a forestry investment scheme being illegally offered by NZ Forestry Investments Limited. The company is based in Mount Maunganui. The forest is in the Wanganui region. Ross Anthony Collins is the sole director and shareholder of NZ Forestry Investments Limited. The Commission banned advertisements for the scheme because in its opinion they do not comply with the law. To be promoted in New Zealand the scheme must have a registered prospectus and an investment statement. These documents are not available.
The scheme has been promoted in the last two months, particularly in the Bay of Plenty. Investors have been invited to purchase shares at a cost of $5,200 each. The shares are described as being in a company called NZ Forestry Investments (No 3) Limited. No company with that name has been registered with the New Zealand Companies Office. Anyone who has already applied for shares in the scheme is legally entitled to a return of their subscription. People who have subscribed should contact the company for the return of their money. The Commission warns people about paying money to schemes which do not have the required offer documents. A registered prospectus and an investment statement give important information about the people involved in the investment and how your money is being invested. Securities law also prohibits the door to door selling of securities.