FinTelegram warns investors about Burberryinvest, a company purporting to operate out of New York, USA, and London, UK, that is currently under investigation by the German regulator BaFin. Burberryinvest is falsely claiming to offer investors the opportunity to purchase shares in Beijing Bytedance Technology Ltd, commonly referred to as “TikTok shares,” despite lacking the necessary licensing and authorization under German financial regulations.
BaFin has highlighted that Burberryinvest does not hold the requisite licensing under the German Banking Act (KWG) or the German Securities Institutions Act (WpIG). Furthermore, it has not provided the mandatory securities prospectus needed for a public offering of securities as dictated by the German Securities Prospectus Act (WpPG).
The entity is also known to operate through the website burberryinvest.com, using the names BBI or BBI Holdings. This warning comes amid increasing reports of fraudulent activities where investors are enticed into subscribing for shares in well-known companies, only to find that these shares are not delivered upon payment. In some instances, the purported shares do not exist at all.
In Germany, offering securities to the public without a BaFin-approved prospectus is a violation of the EU Prospectus Regulation, barring certain exceptions. To date, no securities prospectus for TikTok shares has been submitted to BaFin for approval. Investors are advised to exercise caution and verify the authenticity of any securities offering by consulting the Deposited Prospectuses database to check for BaFin-approved prospectuses.
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If you have any information about Burberryinvest, its operators and facilitators, please let us know via our whistleblowing system, Whistle42.
