CONSUMERS have been warned against investing funds through an organisation called Aragon Currency Management.
ASIC executive director consumer protection Peter Kell said Aragon had recently run radio advertisements offering people the chance to obtain high returns through investments in foreign currencies – particularly the euro.
"If you’ve sent any money to Aragon, we urge you to contact ASIC through our Infoline on 1300 300 630," he said.
"Aragon appears to be based in Florida, USA. It doesn’t have an Australian licence to offer investments, financial advice or any kind of financial product and without that licence Aragon may be breaching Australian law.
"Any Australian who sends money to this company won’t be protected under law if something goes wrong."
ASIC has publicly named Aragon Currency Management on its blacklist of overseas organisations that have targeted Australians.
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