Investment Scam

HumphC

Hi Has anyone invested with Citigroup in a British Airways 5 year Fixed Interest Bond with a yield of 8.375%pa If so how did you get on. 

25_Years_On

There have been a number of scams with impersonation of Citigroup/Citibank with fake higher yield bonds so unless you checked carefully you may not have invested with Citigroup at all.

jimjames

HumphC said:

Hi Has anyone invested with Citigroup in a British Airways 5 year Fixed Interest Bond with a yield of 8.375%pa If so how did you get on. 

It's a scam if you have been approached by someone selling this. You can buy bonds via a share dealing service but in that case you'd know it was genuine. Citigroup don't sell specific bonds directly to the public so the fact you're asking the question flags to me that this is a scam version not the genuine one. 

eskbanker

HumphC said:

Hi Has anyone invested with Citigroup in a British Airways 5 year Fixed Interest Bond with a yield of 8.375%pa If so how did you get on. 

By titling the thread 'investment scam', you implicitly already know (or at least allege) that all is not good, what's the rest of your story?

dunstonh

Hi Has anyone invested with Citigroup in a British Airways 5 year Fixed Interest Bond with a yield of 8.375%pa If so how did you get on. 

There is no such thing.  It is a scam.

BA do have a corporate bond with that yield but its not a financial product.    It is British Airways 8.375% 15/11/2028 USU68362AA75

However, its a traded asset in the same way shares are.     Its not a fixed term deposit.

You are being scammed by someone pretending its a retail product and faking a product.  You would send the scammer the money and you would never see it again.   MSE have reported a variation of this before with BA but you see many top brands used in the spoof.   in your case, BA and Citigroup.   Citigroup do not retail products like this.

https://www.moneysavingexpert.com/news/2022/05/british-airways-scam-email-saver/

Nannyjojo

Hi has anybody had dealings with Prime Nordic plc? My bonds have matured this year and I have tried ringing , writing and emailing and I nothing. They are still registered as active in companies house. 

Linton

Nannyjojo said:

Hi has anybody had dealings with Prime Nordic plc? My bonds have matured this year and I have tried ringing , writing and emailing and I nothing. They are still registered as active in companies house. 

If "this year" means maturing on the 1st/2nd Jan 2024 perhaps you are being a little premature in worrying about nothing obvious happening within a couple of hours of the return to work.

However looking at the Companies House listing Prime Nordic PLC appears to be  a tiny company with minimal assets, zero turnover reported for 2021 and 2022, 1 employee,  and survived a winding-up order about a year ago. 

The latest annual report is given here and from my reading appears to state that the company's assets are some Norse NASDAQ shares and that it is building up its asset base by issuing bonds.

Its only internet presence I can find are Instagram, Facebook and Linked-in accounts.  So at best it seems to me as a very obscure and risky  investment and there may not be many other investors. But I am not an accountant and could well be wrong.

 How did you hear about them? What was the deal?  

Johnjdc

Linton said:

Nannyjojo said:

Hi has anybody had dealings with Prime Nordic plc? My bonds have matured this year and I have tried ringing , writing and emailing and I nothing. They are still registered as active in companies house. 

If "this year" means maturing on the 1st/2nd Jan 2024 perhaps you are being a little premature in worrying about nothing obvious happening within a couple of hours of the return to work.

However looking at the Companies House listing Prime Nordic PLC appears to be  a tiny company with minimal assets, zero turnover reported for 2021 and 2022, 1 employee,  and survived a winding-up order about a year ago. 

The latest annual report is given here and from my reading appears to state that the company's assets are some Norse NASDAQ shares and that it is building up its asset base by issuing bonds.

Its only internet presence I can find are Instagram, Facebook and Linked-in accounts.  So at best it seems to me as a very obscure and risky  investment and there may not be many other investors. But I am not an accountant and could well be wrong.

 How did you hear about them? What was the deal?  

If you look on the FCA Register you will also find that they were on it, but are no longer on it, as of early 2022 (which seems like the last time some of their socials were updated).

Linton

Johnjdc said:

Linton said:

Nannyjojo said:

Hi has anybody had dealings with Prime Nordic plc? My bonds have matured this year and I have tried ringing , writing and emailing and I nothing. They are still registered as active in companies house. 

If "this year" means maturing on the 1st/2nd Jan 2024 perhaps you are being a little premature in worrying about nothing obvious happening within a couple of hours of the return to work.

However looking at the Companies House listing Prime Nordic PLC appears to be  a tiny company with minimal assets, zero turnover reported for 2021 and 2022, 1 employee,  and survived a winding-up order about a year ago. 

The latest annual report is given here and from my reading appears to state that the company's assets are some Norse NASDAQ shares and that it is building up its asset base by issuing bonds.

Its only internet presence I can find are Instagram, Facebook and Linked-in accounts.  So at best it seems to me as a very obscure and risky  investment and there may not be many other investors. But I am not an accountant and could well be wrong.

 How did you hear about them? What was the deal?  

If you look on the FCA Register you will also find that they were on it, but are no longer on it, as of early 2022 (which seems like the last time some of their socials were updated).

The name on the FCA list is different to the Companies House PLC but is not registered on Companies House.  |There is also another different company that is registered. on Companies House.  All 3 share the same address.