The Financial Conduct Authority has issued a warning about a clone firm called Castlebrook Properties.
Fraudsters have cloned legitimate property investment firm Castlebrook to lure consumers into fake products. The bogus firm, which has no registered address, is selling a Castlebrook Properties HMO Properties Bond by copying the name of a legitimate business.
Clone firms operate by mimicking legitimate company details to scam people into fake, non-tradable or worthless investments. Consumers can protect themselves by being wary of any cold calls offering investment opportunities and being sure the check the company’s details on the FCA register.
The real business, Castlebrook Properties Limited, has a legitimate company registration number and is based in Old Broad Street, London.
The FCA said: "This bogus entity has no association whatsoever with the UK registered company Castlebrook Properties Ltd. The genuine company does not offer any financial products. Scammers are falsely claiming the name, address and company number of the UK registered company."
