Bafin warns Zurich Private Capital Group
The Federal Financial Supervisory Authority (Bafin) has warned the Frankfurt based financial, which has been engaged in illicit business. The Group has no license under Article 32 German Banking Act to operate banking and financial services businesses.
The company, which has offices in Frankfurt am Main and Hong Kong and contact addresses in London, Dubai, Singapore, Mauritius, Mahe (Seychelles) and Mumbai, advertises on the internet at zurichprivatecapital.com for savings, investments and asset management.
The company’s website is now restricted and contact in London is “permanently closed”. The company’s Facebook presence has not had a new entry since April 2016. Chitangud Ramchurn is group executive director and CEO of the company.