After creating this website, a handful of people have contacted us regarding the legitimacy of Vincifx. Many people ask the simple question if Vincifx is a scam or whether LIT Group Holding is legit.
Fraud Warning if You Are Considering Investing in Vincifx
Share frauds occur when individuals or investors are offered non-existent or worthless shares. Similarly, it could happen when a person is provided the shares they own at inflated prices. All these activities are performed by fraudsters working in boiler rooms located abroad. Although individuals holding the shares are usually promised high share returns, it is vital to note that those who sell or buy shares using this way usually lose their funds.
According to the Financial Conduct Authority, commonly denoted as FCA, the majority of the victims of share fraud are typically experienced investors that have lost approximately £20,000 in the UK annually. In this case, Vincifx is not even licensed to buy shares. As a result, any investment activity conducted by Vincifx, Lit Group Holding or by Mr. Heiderian as an individual acting on behalf of the company or in their own capacity are an illegality to the extent that they lack the requisite legal authority to puport to buy shares on behalf of investors.
We have done some research and would like to share them with you.
How to protect yourself from scam artists
Suppose you are given a company’s financial report, an attractive premium price for shares you may own, discounted shares, unsolicited investment advice, or free company equities. In such a scenario, it is in your best interests to exercise due diligence before handing over any money. Firstly, you are best advised to:
- Ensure the person or organization offering the service is authorized. This can be done by checking the FCA Register at register.fca.org.uk.
As people who have lost more than £100,000 to this Ponzi scheme, we went ahead and have raised this issue with authorities at FCA. Not to our surprise, they confirmed neither Vincifx nor LIT Groups Holding are licensed or regulated by them. This means that they are not only misrepresenting their authority to buy shares to the public but also purporting to act on an authority that is not granted or authorised by the Financial Conduct Authority. This means that Sepehr Heidarian and his fake companies are not authorised by Financial Conduct Authority and that any acts or omissions purporting to provide or providing financial services amounts to an illegality, including investment management.
FCA has confirmed that now they have opened a case to investigate potential frauds committed by Mr. Heidarian. They also provided this link to look up the mentioned companies and see if they have any valid licenses for trading.
Consultants at FCA provided us with their registrar (this page) whichhe public can search companies and individuals authorised by Financial Conduct Authorities.
We have conducted a few searches and have found neither Sepehr Heidarian nor his company is authorised to manage clients’ investments. That means he has been illegitimately obtaining funds from people illegally by presenting himself as an investment company with the sole intention of defrauding potential investors of their hard earned money.
- As a second step to exercising due diligence: Request the name of the person or company contacting you.
Run a background check on the individual offering the investment opportunity. What is his background? What is his track record academically and professionally? Can he directly speak to at least 5 happy customers who already have done the business?
Here is in a nutshell. Sepehr Heidarian has never attended any university. The gentleman has failed to obtain any degree, let alone anything in finance or business. He has never had a real ascertainable job in the industry which speaks to his lack of experience in the trade. On his LinkedIn, he mentions he has been working for LIT Group Holding since 2015. However, a quick search at the companies house, reveals that the company did not exist at the time and was only registered in 2018.
More importantly, research the company on the companies house website. For starters you can check into: Who is the director? Where are they based? Is their address real? Check their tax return. Check their financial statement, including annual turnover and profit.
LIT Group Holding is registered at a bedsit in Clapham, London, where Mr. Heidarian formerly lived. His company LIT Group Holding has been dormant since its inception and has never traded. Its assets and annual turnover are only £10, which is instructive of the reality that LIT Group Holding only exists in paper and has no actual existence. He also declared zero income in his last statement, which further proves the dubiousness of the company and the character of Sepehr Heiderian. All this information is publicly available on this link. The company is now facing a compulsory strike-off.
- REMEMBER: You should think twice if the deal is too good!
Suppose you use an unlawful company like Vincifx or LIT Group Holdings to purchase or trade shares or any other investment. In that case, when things go wrong, the chances are high that you will not be able to access the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service. And your only way would be to either report it to the police or go through a costly legal process to be able to recover your funds.
How to report a scam
If you are a victim of this investment fraud, don’t keep quiet and please ensure that you report them to the Financial Conduct Authority and more importantly the police. We will publish a step-by-step guide on how you can report them to the police soon.
Equally, anyone who hears or has any information concerning shares fraud should not hesitate to report it to the FCA. Alternatively, individuals could use this link to fill out a fraud report www.fca.org.uk/scamsmart
If you are already a victim and have lost money to Vincifx, you can also use the site to access and read more information concerning share fraud. Please make sure to also check this page: https://www.fca.org.uk/consumers/report-scam-us
FCA also has a free phone number to contact at 0800 111 6768. Their team will record the detailed information about the fraud and provide you assistance on your next steps. There will also be a person on hand to help with recording all the relevant information to be submitted to the relevant authorities, including the police.
Their line is open Monday to Friday, 8 am to 6 pm, and Saturday from 9 am to 1 pm.