It has come to the attention of Finansinspektionen (FI), the Swedish Financial Supervisory Authority, that persons claiming to represent Escrow Service Group are offering Swedish investors so-called escrow services. The usual purpose of an escrow agreement is to create a safe transaction of funds or other valuables between a buyer and a seller. In this case, however, Escrow Service Group appears to be a part of an ongoing investment fraud scheme.
Escrow Service Group does not exist according to FI’s investigations. Escrow Service Group is not authorised by FI to conduct securities business or other financial services in Sweden. Neither is it under FI’s supervision. FI has not received any notification of cross-border activities from other EEA countries. Neither is Escrow Service Group authorised to provide financial services according to the supervisory authorities of the countries in which the company claims to be domiciled.
FI warns investors and others about doing business with firms that are not authorised to offer financial services. The list of companies authorised to offer financial services can be found at the Company Register.
Escrow Service Group has a website (www.escrowservicegroup.com) and is using the following contact information:
Dah Chong Hong Building, Level 23
25 Westlands Road
Tel:+852 3050 9035
Fax: +852 3015 7922