The Consumer Council of Fiji says it has received more than 20 complaints in the past eight months against Global Finance Ltd (GFL) with a monetary value of about $24,000 which have been lost by the consumers.
In a statement, Council CEO Seema Shandil said in one of the latest cases lodged with the council, a consumer paid $4565 as membership fees and deposit to obtain a loan of $15,500.
The Global Finance owner was alleged to have disappeared after receiving the cash and numerous follow-ups by the complainant remained futile even though both parties had an agreement signed between them.
“The operator of Global Finance uses his charm, communication and persuasion skills to extract cash deposits from consumers for quick loans; which never eventuates,” said Ms Shandil.
“The individual in question is a notorious conartist who has been going around and preying on vulnerable communities across Fiji; including rural and maritime areas and the recent cases reveals Taveuni and Savusavu as his target areas,” she claimed
The council is urging consumers to be more alert and always check the credibility of such individuals as well as businesses which approached them, offering similar services.
Consumers were urged to do background checks through online searches and if in doubt seek the council’s assistance to avoid losing their hard-earned cash to these dubious individuals and practices.
In November, the Reserve Bank of Fiji had issued a statement cautioning consumers about Global Finance’s dealings.
According to the council, it was stated Global Finance was not a licensed deposit taker in Fiji and should not be soliciting, accepting, or given any form of deposits from the general public.
The council has forwarded the complaints to the Criminal Investigation Department (CID) of the Fiji Police Force for investigations and is closely working with the department to protect Fijian consumers.
Fijians were urged not to engage in any dealings with this business and those coming in contact with them or any suspected conartists were advised to call the council on the toll-free number 155 or lodge a complaint through the Consumer Council of Fiji’s mobile app.
Ms Shandil said GFL claimed to be in the business of financial services which meant taking deposits and providing loans which never eventuated once deposits were received.
Complaints continued to surface against this rogue business since the last consumer alert by the Consumer Council of Fiji in the media, cautioning Fijians against the Global Finance Ltd which was known as Potential Business Solutions.
The business’s unscrupulous operations were first discovered in 2020, according to the council, which has since ripped off numerous Fijians under the pretext that they would be provided immediate loans after the payment of deposits and membership fees.
The modus operandi of this business entailed going around to communities and holding numerous workshops; enticing people with different products which they had to offer only to disappear when deposits were received for the so-called loan products.
Numerous follow-ups by those affected consumers were ignored and their mobile numbers blocked, according to the council.
Consumer complaints and subsequent investigations by the council revealed that Global Finance was still actively operating and Fijians were still falling victims to the façade being orchestrated by this company.
No contact can be made with the Global Finance Ltd management for a comment when this edition went to the press.
