According to the purported company’s website, which can be found here, it is a boutique advisory firm which offers “bespoke wealth management and financial planning”.
It also claims to be “regulated and authorised by the Financial Services Authority” and based in Capital House on the Isle of Man, as well as 28-32 Upper Pembroke Street in Dublin, Ireland.
However, according to the FSC, while the Isle of Man address is genuine, the occupiers have no business relationship or connection with Alpha Fund Management.
In addition, there is no such company incorporated on the island, it is not registered as a foreign company, and it is not registered as a name. Indeed the Commission has established no links between Alpha Fund Management and any genuine Isle of Man companies, or the island itself.
“Under the circumstances, the Commission would strongly urge persons considering dealing with this potentially fraudulent entity/website, to exercise the greatest possible caution before proceeding, bearing in mind the contents of this public notice,” it said.
The FSC also highlighted particular risks that anyone dealing with Alpha Fund Management might face, including advanced fee fraud and identity theft.
Any persons who have paid funds in connection with the website are advised to contact their local police fraud unit, while those already involved in dealings with it should notify the FSC’s enforcement division on +44 1624 689313, or by e-mail to fsc@gov.im
