24 July 2000
Millionaires of the World (Part of the Hope Foundation Members Association S.A.) & Wairua Tahi Trust (Goldrush) Schemes
The Securities Commission is warning people about placing money with the Millionaires of the World (Part of the Hope Foundation Members Association S.A.) and the Wairua Tahi Trust (Goldrush) schemes, or schemes related to them.
These schemes are being promoted in the Tauranga, Waikato and Auckland regions. It is understood that the promoters and agents are targeting church groups.
These schemes require contributors to send money to offshore bank accounts in Lichtenstein, the Isle of Man or Panama.
Agents for the Hope Foundation Members Association S.A. promote returns of between 10% and 40% per month through their schemes. The returns are claimed to be tax-free.
Additional profits earned on contributors funds are allegedly directed on behalf of the Hope Foundation towards providing disaster relief for poor countries.
The Millionaires of the World allegedly has Count Julian Graf von Heisermann, Grand Chancellor of the Knights of Malta, as its patron.
Agents for the Wairua Tahi Trust promise tax-free profits with zero or near zero risk and 15% per month returns.
The promoters of the scheme claim to have links with Investors International. The Commission has given previous warnings about Investors International. Its founder, Dr Rudolf van Lin, has been prosecuted by the United States Securities and Exchange Commission for the fraudulent offer and sale of unregistered securities in a related scheme called Sabre Asset Management.
The promoters of these schemes do not explain how, with whom and in what country contributors money will be applied. There are no financial statements. There is no prospectus and no investment statement to give the information normally required for conventional investments.
Contributors in schemes of this type generally do not receive promised profits or the return of their initial capital. The Commission warns people to be extremely cautious when dealing with the Hope Foundation or its associated entities, with the Wairua Tahi Trust, with schemes relating to either of them, or with anyone claiming to represent them.
Potential investors should remember the old saying that if an offer looks too good to be true it probably is.
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Norman F. Miller
Senior Executive (Operations)