Scam financial product such as Axiom Legal Financing Fund offered through *** -Financial Advisors around the world.
This fund was supposed to be Capital protected, fully insured and offering specific 11.18% return with no charges as this was supposed to be interest earning investment. Financial Advisors Mr Ashish Mukherjee based in New Delhi affiliated with Generali offered this fund to various investors.
As the funds were remitted by the investor directly to Generali, the investor felt that there was something wrong and asked the financial advisor that he did not wish to invest and wanted his funds back. Financial Advisor confirmed in writing that Generali had been instructed to refund the whole amount (prior to investment). Despite repeated requests, refund was not made and the sum of £260,000 was invested in the Axiom Legal Financing Fund whose launcher was under investigation by Law Society regulator in UK. The fund has gone into administration and while the Financial Advisor blames Generali for providing sub-standard product, Generali point the finger to Financial Advisor who in turn appears to be affiliated to another Consultancy based in Bangkok.
Generali continue to charge approximately £4000 per quarter as their administration charges based on the total original investment.
Generali appears to be engaged in such worldwide collection of billions of dollars through dodgy financial advisors and companies scattered in various countries who entice unsuspecting investors to part with their life savings.