The Central Bank has issued a warning about an unauthorised investment business which has been targeting Irish investors. International Consortium Growth Holdings (USA and Bahamas) has been recommending the purchase of shares and offering to provide investment advice to investors here. The Central Bank has placed a notice to this effect in the national media. Investment firms must be authorised by the Central Bank. If investors place money with unauthorised firms and lose that money, they are not eligible for compensation from the Investor Compensation Scheme.
The Central Bank has been notified about the firm's activities in recent months and is inviting anyone with information to contact it at 1890 200 469. Investors can also use this number to determine whether an investment firm is authorised before making an investment. The Central Bank was given legal powers to warn publicly about unauthorised firms in 1998 and has issued 31 warnings naming 64 firms.
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