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| SECURITIES COMMISSION OF THE BAHAMAS PRESS RELEASE - FOR IMMEDIATE RELEASE RE: UNREGISTERED INVESTMENT OPPORTUNITY – WAR PROOF INVESTMENT March 20, 2003
It has been brought to the attention of the Securities Commission of The Bahamas that the March 20th edition of The Tribune carried an advertisement from unknown person(s), who under the heading WAR PROOF INVESTMENT are offering an “investment opportunity” to Bahamians. This opportunity requires the investment of a minimum of one hundred ($100,000) thousand dollars and is guaranteed to provide significant returns over the next ten years. All interested persons are being asked to submit their name and telephone number for “pre-qualification” to the e-mail address warproofinvestment@bahamas.net.bs.
The Securities Commission informs the general public that if this is an offer to purchase securities, the Securities Commission has not been made aware of nor has it approved any such offer to the public to subscribe for securities from any individual or group in The Bahamas. Therefore, this solicitation is contrary to Section 54(1) of the Securities Industry Act, 1999 (“the Act”).
The general public is further advised to be wary of such promotions and should make their decision to invest only after conducting the proper due diligence.
Any person who has been
contacted or solicited in reference to the above is invited to contact Mr.
Benson Russell, Compliance Investigator, in the Compliance Department at
the Securities Commission of the Bahamas at telephone number 356 – 6291/2;
or in writing to P.O. Box N-8347, Nassau, The Bahamas.
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