New scam targets Australian investors
A new cold calling operation is threatening Australian investors, this time in the form of alleged scammers posing as representatives of a non-existent United States brokerage firm.
The Australian Securities and Investments Commission (ASIC) is investigating the firm, Millennium Futures, which it suspects is using the identity of a legitimate non-clearing member firm of the New York Mercantile Exchange.
Millennium Futures claims to be a member of the non-existent New York Petroleum Option Exchange and a full-service brokerage firm dealing in commodity, futures and options trading.
However, Millennium Futures is not registered with ASIC and is therefore not authorised to provide financial services in Australia.
Complaints regarding Millennium Futures or other investment scams should be lodged with ASIC.
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