SECURITIES COMMISSION WARNS AGAINST BILDERBERG INVESTMENT GROUP
Picture Caption: SCPNG Acting Chairman Mr. Joshua James
By Sandra ULG
THE Securities Commission of PNG (SCPNG) has issued warnings against fraudulent investment platforms, including the recently surfaced Bilderberg Investment Group.
In an interview with this newsroom SCPNG Acting Chairman Mr. Joshua James has warned that this investment group is one of the many fraudulent investment platforms that many Papua New Guineans, including educated individuals, may fall prey to such schemes, losing hard-earned money to fast-money promises that are too good to be true.
Chairman of Bilderberg Group Mr. Denis Gigil Ahnakot said the Bilderberg Investment Group will invest US$300 billion across 14 transformative projects in the country.
The projects are set to launch at the end of this month.
Mr. Ahnakot says they have identified PNG as a nation with immense untapped potential, rich cultural heritage, and unparalleled natural resources and have made the decision to invest in the country.
He claims that this bold investment underscores the Bilderberg Group’s belief in PNG’s potential to become a global leader in sustainability, innovation, and inclusive development. And their source of Funding for these Projects, is from HSBC Bank of London.
However, SCPNG Acting Chairman Mr. James says the legitimacy of Bilderberg Investment Group’s US $300 billion investment is questionable as no evidence exists of the group operating under PNG’s national investment programs or acquiring land legally.
Mr. James states that key concerns include the lack of a verifiable track record, as the group has no history of successful projects of similar scale and no endorsements from reputable third parties.
He adds that their funding mechanisms, which rely on private placement programs (PPP) and high-yield returns, resemble those used in fraudulent schemes and lack transparency. The alleged involvement of HSBC Bank, London, remains unverified, and the contact details lack physical addresses or authenticity.
Mr. James says the investment does not appear to be registered with PNG’s financial regulatory authorities, and no independent reviews or endorsements by global agencies or underwriters support the proposal.
He further adds that Given these unverified claims, questionable funding models, and absence of government endorsement, this investment proposal raises significant red flags. It appears highly suspicious and potentially fraudulent.
He has strongly advised Papua New Guineans to proceed with extreme caution and avoid investing in this scheme without thorough verification.
