AMF warns against J & B Group

8 September,, Lagos – The French financial regulator, the Financial Markets Authority (AMF) responsible for ensuring the protection of savings invested in financial products, information for investors and the proper functioning of markets. By virtue of this responsibility, the financial watchdog has warned the public against the operations of individuals using its name and logo and impersonating the Ombudsman.

A recent report has reached the AMF that investor are being approached by a group that claims to be mediating on behalf of the AMF. It has been reported that investors have been receiving messages from a so called firm called “J & B Group”. This firm claims to be in partnership with the AMF and with the alleged aim of helping individual investors to recover the sums invested money in fraudulent schemes. Hence, AMF warns against J & B Group.

False claims

Documents submitted to the financial watchdog by contacted investors shows false claims that the AMF would have established a partnership “VigiFraude” with the law firm J & B Group. J & B Group claims that its partnership with the IMF will help foster a process of client funds recovery, for those who have suffered losses due to fraudulent company investments, via a collective procedure controlled by J & B Group, which would act as agent the AMF. Some documents being used by the group bear the signatures and contact details of the AMF Ombudsman and his team and use visual identity and logo.

The AMF has now promptly stated that these claims are false as it has no ongoing partnership with J & B Group. Hence, the AMF warns against J & B Group individuals. Aside, the AMF will promptly file a complaint by a civil party.

Invitation for investors

The financial regulator has again reiterated that its mediation process is completely free and will not request financial commitment from individuals in carrying out its duties. Investors have been invited to the AMF site for questions, queries or enquiries on the following link to contact the AMF team.

Aside the AMF warns against J & B Group, the regulator has recently blacklisted the following firms:

-Capital Market Limited, with the website:
 Fxcmanagement, active on:
 Globus Capital Associates Limited, operative through:
 IAP Ltd., operative on website:

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