SBMA Investment

02 Jun 2016 Waarschuwing van een buitenlandse toezichthouder

It has come to the attention of the Financial Services Commission, Mauritius (the “FSC Mauritius”) that an entity known as SBMA Investment LLC (“SBMA”) is falsely claiming to be licensed by the FSC Mauritius as a Category 1 Global Business Company and an Investment Dealer (Full Services excluding Underwriting) bearing licence number C110008641 since 2014. SBMA has been circulating an investment proposal (the “Proposal”) in Malaysia. SBMA is also referred to as SBMA Investment and is linked to the following two entities as per the Proposal:

1) SBMA Inc, 750 Third Avenue, 9th Floor, New York, NY, United States; and
2) Southeast Business Management Agency (SBMA), No.16A, Jalan PS9/1, Prima Selayang, 68100 Batu Caves, Selangor, Malaysia.

It has been reported that there were cases where investors in Malaysia have been defrauded by SBMA. The FSC Mauritius conducted a preliminary enquiry into this matter and observed the following:

(i) SBMA is not and has at no point in time been licensed by the FSC Mauritius; the certificates of licences disclosed in the Proposal are fake;
(ii) The Mauritian address mentioned in the Proposal is fictitious;
(iii) As per the Registrar of Companies, there is no entity incorporated in Mauritius under the name of SBMA, Southeast Business Management Agency, SBMA Investment, or SBMA Investment LLC;
(iv) The website address (www.sbmainv.com) is not operational; and
(v) The individuals named in the Proposal, (1) Mr Harold R. Dean, Founder and Chief Investment Officer of SBMA Investment LLC and (2) Mr William R.Selvarajoo, SBMA (Marketing) Malaysia, are not borne on the records of the FSC Mauritius.

The FSC Mauritius has alerted the relevant regulatory bodies with respect to the above. The FSC Mauritius urges the public to exercise caution in respect of the aforementioned entities and persons.


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