NBS warning regarding unauthorised activity of the company Worldclearing US LLC

12. 10. 2009 | Information for Public

The National Bank of Slovakia would like to notify potential clients of the trading company Worldclearing US LLC - depositors and investors -  of the unauthorised business activity of the above-mentioned trading company -  currently located at the following business address: 50 California Street Suite 1500, 94111 San Francisco, California, USA.

On the basis of a warning from the Police Force sent to the NBS and the respective information published on the website www.lepsizivot.com it is  evident that the company Worldclearing US LLC is pursuing such activities in the territory of the Slovak Republic for which a licence of the NBS is required, however, a licence has not been granted to the above-mentioned company. The main activity of this company is to attract  potential clients to invest their savings in a U.A.E. Pension Fund  in the United Arab Emirates. The Fund has been established for private individuals aged 18 - 67, for 50000 participants  worldwide. Through the U.A.E. Pension Fund the company Worldclearing US LLC offers the opportunity to acquire a  compensation payment of Eur 80 000 after having  deposited a lump-sum and its crediting to a Bank account. Everyone who  sponsors a new member will get a commission fee of Eur 3000 for each new member.

This regards the unlicenced collection of  funds from the public, i.e. an activity for which an NBS licence  is required. The stated activity of  Worldclearing US LLC has all the signs of a pyramid scheme.

The NBS, as a public body authorised to grant  licences in accordance with the Acts regulating the financial market, warns the public that it did not issue any licence for Worldclearing US LLC which could authorise this trading company to conduct business in the Slovak Republic in accordance with the Act No. 483/2001 Coll on Banks and on amendments to some Acts as amended, in accordance with the Act No. 566/2001 Coll. on Securities and investment services and on amendments to some Acts as amended and not even in accordance with the Act  No. 594/2003 Coll. on Collective investments and on amendments to some Acts as amended.

Regarding all these facts the NBS strongly warns the public that pursuing any business activities of the company Worldclearing US LLC in the financial market of the Slovak Republic for which a licence of the NBS is required, is in violation of the above-stated Acts. Pursuing  investment activities with the company Woldclearing US LLC is not subject to the supervision of the NBS and any funds invested in the activities of  Worldclearing US LLC are not subject to  protection in accordance with the Acts of the Slovak Republic.

 

Note: Following the publication of the press release of which  the first sentence of the second paragraph read as follows: „ On the basis of a warning from the Police Force sent to the NBS and the relevant information published on the website www.lepsizivot.com it is evident that the company Worldclearing US LLC is pursuing such activities in the territory of the Slovak Republic for which a licence of the NBS is required, however, a licence has not been granted to the above-mentioned company", the provider of the website www.lepsizivot.com has informed the NBS that „following the publication of the press release by the NBS the provider has removed the information  from the above-mentioned website regarding this project and it acts only as a client in the project". Therefore, the press release  has been  edited by  the  NBS.

 

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2168,+421-2-5865 2168, +421-2-5787 2169, 421-2-5865 2169
Internet: http://www.nbs.sk

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