Banks, EU – Baltic States, Financial Services, Investments, Latvia, Legislation

Bloomberg found out that the Secure Investment scheme also involved Latvian banks.

Secure Investment provided its services online.

The company said that it traded in excess of USD 4.8 billion daily for more than 100,000 investors in 140 countries.

The site said investors had averaged net gains of 1 percent each trading day during the past five years.

However, at the beginning of May, Secure Investment website vanished together with the clients' investments.

Investors around the world may have lost more than USD 1 billion, based on data posted on Secure Investment website and viewed by Bloomberg Markets two months before the site shut down. Customers in 11 countries on five continents say they have seen their money evaporate with Secure Investment.

Twenty-five investors interviewed say Secure Investment had instructed them to wire money to banks in Australia, Cyprus, Latvia, and Poland.

Secure Investment is registered in Panama, however, its true location is unknown. The company never revealed its true location and provided its clients with only some bank and related-company names, along with its call center’s toll-free phone numbers in Australia, Canada, Hong Kong, the United Kingdom, and the Unites States.

Secure Investment lured customers by creating its own good reputation and by publishing a seemingly successful trading record on its elaborate website.

However, it was all a lie. The company’s claims to have offices and a large staff were also false. Furthermore, some of its so-called customer testimonials were actually delivered by actors.