CB warning over investment firm

The Central Bank has issued a warning about an unauthorised investment firm offering financial services in Ireland

The bank said Frank Goldenberg Yoshi (Hong Kong) had been offering investment services to people here but was not authorised as an investment firm in this jurisdiction.

"It is a criminal offence for an investment firm to operate in Ireland unless it has an authorisation from the Central Bank of Ireland," it said.

"Consumers should be aware that, if they deal with an investment firm which is not authorised, they are not eligible for compensation from the Investor Compensation Scheme."

Since obtaining the necessary legal powers in August 1998, the names of 202 unauthorised firms have been published by the Central Bank.

Anyone wishing to contact the Central Bank of Ireland with information regarding such firms may telephone (01) 224 4000.