Investment Management
Menzi Investment GroupFind BBB Accredited Businesses in Investment Management.
Information and Alerts
Alert Details
This business has 1 alert.
Alert
In
August 2019, BBB initiated an investigation into Menzi Investment Group after
receiving complaints from consumers alleging promised returns on investment
were never delivered after paying Menzi Investment Group hundreds of dollars
upfront.
The investigation revealed that
Menzi Investment Group promised consumers returns up to 10 times their initial investment.
The company's website and contract states clients would receive their returns
in 18 days.
However, BBB found this to be
inaccurate. Furthermore, consumers BBB spoke with stated Menzi not only failed
to deliver their returns but would request additional monies.
BBB obtained a chain of emails
sent to a consumer by Menzi Investment Group. In the emails, the business
repeatedly requests more money due to various complications in delivering her
return like security issues and anti-money laundering fees. At one point in the
email conversation, Menzi Investment Group requests the consumer to open a bank
account with a Swiss bank. Menzi Investment Group provided the bank's website
and contact information.
BBB discovered that the website was registered to an individual in Ghana and that the website was a spoof of the Swiss bank UBS. After the consumer failed to pay Menzi Investment Group, the company ceased communication.
Service Area
- Travis County, TX
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