Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Forestry Group Illegally Offers Investments

Warning – Investments Illegally Offered By Prime Forestry Group

The Securities Commission warns people against investing in a forestry scheme offered by Prime Forestry Group.

The Commission believes the offer does not comply with New Zealand law. Investors are approached directly, through unsolicited mail, offering investment in hardwood forestry in Central American countries.

Returns of up to 14% per annum are promised. People are asked to send personal details to a London address which, we are informed, is used for marketing purposes only.

Prime Forestry’s head office appears to be in Zurich. Prime Forestry does not have a New Zealand registered prospectus or an investment statement. These documents are required for securities offered to the public in New Zealand.

A registered prospectus and investment statement give investors important information about the people involved in the investment and how their money is being invested.

Anyone who has already subscribed may be entitled under New Zealand law to have their money refunded. People who have subscribed should contact the company and ask for their money back.

The Commission warns people about paying money to schemes which do not have the required offer documents. This is especially important where money is being sent outside New Zealand. Once money goes offshore, it is very hard (if not impossible) to recover.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


CO2 And Water: Fonterra's Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>


Fisheries: Decision To Delay Monitoring ‘Fatally Flawed’

Conservation group representatives say a decision by the new Minister of Fisheries, Stuart Nash, to delay implementation of camera monitoring of fishing efforts in New Zealand is ‘fatally flawed’. More>>


Kaikōura Quakes: One Year On

State Highway One and the railway were blocked by damage and slips and the Inland Road suffered significant damage. Farms, homes and businesses suffered building and land damage. Power and internet went down, drinking water systems, sewage systems and local roads were all badly affected... More>>