Fake Porsche stock – missing? there! This is behind the warning that BaFin now recommends to investors. By Matthew Fisher
The Federal Financial Supervisory Authority (BaFin) is the supervisory authority for securities transactions in Germany. Authorities warn against Porsche shares with an incorrect ISIN. As BaFin explained in yesterday’s press release, “it has justified the suspicion that IBA Consulting & Trading GmbH, based in Duisburg, publicly offers shares in “Porsche AG” with the alleged ISIN NET0000POR91 without the required expectations. The shares with this ISIN do not exist. The connection of shares of Dr. eng. hc F. Porsche Aktiengesellschaft do not exist.”
BaFin had already issued a warning about these papers at the end of October: “The operators of the website sparclub24.com, based in Düsseldorf, are making claims for pre-IPO shares in Dr. Ing. hc F. Porsche Aktiengesellschaft (abbreviated: Porsche AG). The Federal Financial Supervisory Authority (BaFin) notes that pre-IPO offers for these shares are illegal and do not come from Volkswagen AG or its subsidiaries.”
Apparently, this seems to be a new scandal: “Recently, reports of fraudulent attempts in which shares in certain companies are offered for registration have been increasing. However, these shares are not delivered after the payment of the buyer and the service providers can no longer be reached,” he said. BaFin.
Conflict of Interest Statement
CEO and majority owner of publisher Börsenmedien AG, Mr. Bernd Förtsch, has taken direct and indirect positions on the following financial instruments mentioned in the publication or related entities that may benefit from the price promotion resulting from the publication: Porsche AG.