Blue Paramount claims to offer unregulated “Premium Bonds” paying interest as follows:
- Silver – 9% per year for a 1-3 year term and investments of £5k to £20k
- Gold – 10% per year for a 1-3 year term and investments of £10k to £50k
- Platinum – 12% per year for a 2-5 year term and investments of £20k to £100k
- Black – 14% per year for a 2-5 year term and investments of £100k to £1m
It claims “All bonds are secured against losses.”
Who are Blue Paramount?
No corporate identity details are provided by Blue Paramount.
No details of who is behind the business are provided by Blue Paramount, other than a throwaway quote on the “About Us” page which claims that the CEO is named Paul Hutchinson. No further details are provided and with no corporate identity to verify, it is very possible there is no such person.
Blue Paramount runs adverts on Google promoting its bonds. Promoting investments in the UK requires authorisation by the FCA. Blue Paramount has no FCA authorisation. This means that it would be breaking the law even if its bonds existed.
Blue Paramount’s website, blueparamount.com, was registered anonymously at the beginning of this month.
How safe is the investment?
Blue Paramount claims “All bonds are secured against losses.” In reality no investment paying 14% per year is secured against losses.
Blue Paramount has expended little effort on trying to make its nonsensical claim to provide “secured” bonds paying 14% plausible. Other than vague waffle about non-existent property development companies (“Property bonds are sometimes called property investment bonds and they offer a new way for investors to profit from the early stages of a development project” etc and so on) it provides no further detail of its investments.
Essentially, any investor who invests in some website with no registration details is dumping their money into a cardboard box left out on the street with “Invest Money Here” written on it in marker pen, and expecting it to still be there, plus another 14%, when they return a year later.
Between Blue Paramount’s illegal Google ads and nonsensical investments, it is clear that there are two possibilities for anyone who invests with them. The first is that Blue Paramount simply disappear with the money.
The second is that Blue Paramount plinks a few quids’ worth of the investor’s own money back into their account as “interest”. This is known in the trade as a “convincer”, with the idea being that the investor will then be confident enough to invest the rest of their money. After which Blue Paramount will disappear with the money.
Should I invest in Blue Paramount?
This blog does not give financial advice. The following are statements of publicly available facts or widely accepted investment principles, not a personalised recommendation. Investors should consult a regulated independent financial adviser if they are in any doubt.
Any investment offering yields of 14% should be considered extremely high risk.
Before investing investors should ask themselves:
- How would I feel if the investment defaulted and I lost 100% of my money?
- Is my portfolio big enough that I could lose 100% of my investment and not worry about it?
Most importantly, investors should think long and hard before handing their money to a firm that discloses no corporate identity details, and claims implausibly high investment returns for investment “secured against losses”.
Do not proceed unless you are prepared to lose all your money.
a brilliant review FCA get these closed down enough heart ache being had no one needs to be sucked in on any other illegal or unregulated rotten to the core dealings
No surprise that the address provided is also a set of serviced mailboxes. AVOID
Sounds like LCF/Surge?Crucial Academy over again!
Its obviously also a fake webpage, as the “Client Login” button is only there for show and does absolutely NOTHING
“Blue Paramount runs adverts on Google promoting its bonds. Promoting investments in the UK requires authorisation by the FCA. Blue Paramount has no FCA authorisation. This means that it would be breaking the law even if its bonds existed.”
Does this not also mean that Google is breaking the law?
And with failure to disclose business identity itself being an offence, the first question potential investors need to ask themselves is, “Am I happy to give my money to someone I already know is a criminal?”