German watchdog warns of identity fraud from 'Baring' firm

Baring Private Equity London

The German Financial Supervisory Authority, known as BaFin, has issued a warning over Baring Private Equity London, accusing it of identity fraud.

In a statement this week (23 August), BaFin said that the firm had been contacting customers of Interactiv Global Brokers on an unsolicited basis and offering to buy shares in Ecological Technologies from them. FCA mandates data reporting on crypto transfers However, Baring Private Equity London then told these investors that they would need to own a minimum holding in the shares in Ecological Technologies for the sale to be accepted. To increase their share, investors were referred to a firm called Seidel Finance, which BaFin has previously accused of distributing shares witho...