File a Complaint Against
Cloning company of Elite Wealth Management SIF-SICAV S.A.
Know Your Options and Recover Your Funds
Caution Investors Cloning company of Elite Wealth Management SIF-SICAV S.A. – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
In your quest to find a reliable and trustworthy investment fund manager in Luxembourg, you may have stumbled upon a website bearing the name www.elitewealthmanagement.lu. However, what may appear to be a beacon of hope in the financial world is nothing more than a fraudulent facade, exploiting the identity and reputation of a legitimate enterprise known as Elite Wealth Management SIF-SICAV S.A. In this comprehensive review, we will delve into the depths of this elaborate scam, helping you identify it, avoid its snares, and detailing what to do if you’ve already been ensnared.
Who Are They?
The deceptive website masquerades as a provider of various investment products and services, including portfolio management, wealth planning, asset allocation, and fund administration. It boldly claims to have a registered office in Luxembourg and to be regulated by the Commission de Surveillance du Secteur Financier (CSSF), the financial regulatory authority of Luxembourg.
However, these affirmations are pure fabrications. The website neither enjoys authorization nor oversight by the CSSF, and it maintains no genuine association with the legitimate Elite Wealth Management SIF-SICAV S.A., a specialized investment fund operating in compliance with the Law of 13 February 2007. This imposter website cunningly employs the name, logo, and contact details of the authentic company without consent, with the sole aim of duping unsuspecting investors.
Regulation and Compliance: CSSF Issues Warning
The CSSF, acting as a watchdog for the financial sector, took prompt action on September 9, 2023, by issuing a public warning regarding the fraudulent activities under the guise of Elite Wealth Management SIF-SICAV S.A. This warning serves as a clarion call to the public, signaling the impending danger.
The CSSF urges the public to exercise caution and refrain from responding to solicitations originating from the sham website or any individuals using the email address [email protected] or the phone number +32 288 60177. The regulatory body further emphasizes the necessity of reporting any dubious transactions or contacts to them via email at [email protected] or through phone at (+352) 26 25 1.
Genuine customer reviews of the fraudulent website are conspicuously absent, given its fraudulent nature. Nonetheless, discerning individuals who narrowly escaped the snares of the scam have shared their experiences and issued warnings to protect others.
One such reviewer recounted their experience: “I received an email from an individual claiming to represent Elite Wealth Management SIF-SICAV S.A., enticing me with an investment opportunity promising high returns. They requested detailed personal and financial information, along with a copy of my ID and proof of address. My skepticism led me to investigate, and I soon discovered the deceit. I promptly reported the incident to the CSSF and blocked their email.”
Another cautious reviewer shared, “I received a phone call from an individual identifying themselves as a representative of Elite Wealth Management SIF-SICAV S.A., offering a unique investment proposition. Their persuasive pitch claimed they could expertly manage my portfolio to achieve my financial goals. However, their foreign accent and a Belgian phone number raised suspicions. I requested their license number and website address, which they provided as www.elitewealthmanagement.lu. A swift check exposed the deception, and I hung up before reporting the incident to the CSSF.”
Products and Services
The counterfeit website fails to provide any authentic products or services, as it operates without the requisite licensing or regulation. It only masquerades as a purveyor of investment products and services, a mere ploy to entice unsuspecting investors into parting with their funds and personal information.
On the other hand, the legitimate Elite Wealth Management SIF-SICAV S.A. functions as a specialized investment fund, offering alternative investment fund management services in compliance with the Law of 12 July 2013. The company manages various sub-funds investing in diverse asset classes, including equities, bonds, commodities, currencies, hedge funds, private equity, real estate, and more. Furthermore, they provide comprehensive fund administration services, encompassing accounting, reporting, valuation, custody, and more.
The fraudulent website lacks a physical location or a genuine address in Luxembourg or any other place. It resorts to employing a virtual office service that provides a postal address and phone number for a fee, with the address provided as: /
In stark contrast, the legitimate Elite Wealth Management SIF-SICAV S.A. boasts a genuine registered office in Luxembourg, situated at 5 rue Jean Monnet L-2180 Luxembourg.
The sham website offers no discernible customer service or support team, instead presenting an email address and phone number detached from any real entity or individual. The email address utilized is [email protected], while the phone number is +32 288 60177.
Conversely, the authentic Elite Wealth Management SIF-SICAV S.A. maintains a dedicated customer service and support team that can be reached through email at [email protected] or by phone at (+352) 26 27 11 1.
In summation, www.elitewealthmanagement.lu stands exposed as a fraudulent website exploiting the name and reputation of the bona fide Elite Wealth Management SIF-SICAV S.A. Lacking any form of authorization or oversight from the CSSF, this impostor endeavors to deceive potential investors with spurious investment products and services, while simultaneously soliciting funds and personal information.
If you should encounter this website or individuals claiming association with it, exercise extreme caution and avoid disclosing any information. Swiftly report such incidents to the CSSF and the public prosecutor’s office, and remember to block their email and phone numbers. By heeding these precautions, you can shield yourself from this scam and remain vigilant in verifying the legitimacy of any company or individual offering investment opportunities. Your financial safety is paramount; don’t allow deceptive websites to compromise it.