SFC warns ProCap International over dodgy investment products
The SFC warned the public about dubious investment products offered and marketed by ProCap International.
The Securities and Futures Commission (SFC) has issued a public warning regarding suspicious investment products involving insurance policies and gambling packages offered and promoted by ProCap International and its related entities.
ProCap claims on its website that these investment products provide insurance for invested capital. The SFC notes that these products offer investors extremely high guaranteed returns ranging from 6% to 42% per month when participating in predictive games, along with other benefits including referral rewards.
Hong Kong investors may be the target of these investment products promoted by ProCap, but none of these products have been approved by the SFC for offering to the Hong Kong public. Furthermore, information about these products is accessible to the Hong Kong public via the internet. Therefore, the SFC will include these investment products and related materials on the SFC's list of suspicious investment product alerts on April 8, 2024.
In light of this, the SFC reminds the public not to invest in any investment products not approved by the SFC. Since these products have not been authorized by the SFC, investors have very limited or no protection and may risk losing all their investments. Additionally, the public is reminded to exercise caution regarding enticing investment opportunities and to remain vigilant when making investment decisions.
The SFC will take all appropriate actions in the event of any illegal activities.
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