More reasons why you should consider NOT investing in Vertu Capital Limited ( VCBC )

Yesterday, I showed you legal proceedings taking place in the UK and Malaysia for theft & fraud and the victims are the shareholders of Vasseti Zavarco PLC,  but if that wasn't  a good enough reason .. then here's another ... Transparency ... and its lack of.

The Vertu Capital Limited Listing Prospectus is here. 

Vertu Capital Limited is a registered Cayman Islands company and it is an EXEMPTED company.

What does exempted mean ?

• The names of the shareholders of an exempted company are not required to be filed with the Registrar of Companies and an exempted company need only have one shareholder.
• The annual reporting requirements are minimal and consist only of a statement, signed by the company secretary or a director, that the operations of the exempted company have been carried out mainly outside of the Cayman Islands, that the provisions of Section 193 of the Companies Law have been complied with (Section 193 precludes an exempted company from trading in the Cayman Islands except in furtherance of its business carried on outside the Cayman Islands) and that any bearer shares are held by a custodian.
• An exempted company is permitted to issue "no par value" shares.
• An exempted company is not required by law to hold a general meeting of its members.

Not a lot of transparency there ...

Who are the major shareholders in the company ?

Nordic Alliance Holdings Limited (BVI) 
Link Summit Limited (BVI) 
Infinity Mission Limited (BVI) 
Eastman Ventures Limited (BVI)
Amber Oak Holdings Limited (BVI) 
Belldom Limited (BVI)

(Info obtained from the listing prospectus.)

Who are they ? We don't know, because there all hiding behind BVI companies where the privacy laws are strict. 

Ask yourself the question, If you don't know who owns the company and you can't contact other shareholders then do you really believe your money is going to be safe here ??

BE WARNED !!!