Isle of Man Government issues statement on investment scam report

Authorities 'unable to comment further' at this time

The Isle of Man Government has issued a statement after a BBC World Service report alleged that an investment scam, operated from the Isle of Man, conned victims in China out of millions of dollars.

Government says it's 'aware of increased media reporting surrounding a business that operated on the Island which has been subject to significant multi-agency responses to disrupt and close down alleged international criminal activities'. 

It adds: "Government, and all of its relevant agencies and bodies, has a zero-tolerance attitude towards such activities and remains committed to being a respected international partner in terms of global efforts to identify, disrupt and prevent international criminal activity.

"Maintaining the Isle of Man’s international reputation as a trusted and respected jurisdiction is of the utmost importance and the Isle of Man Government will not hesitate to act to protect this in the face of those who stand to jeopardise and abuse it.

"The robust response by the Isle of Man Constabulary, Gambling Supervision Commission and other government agencies that led to the disruption and closure of businesses at the centre of these concerns demonstrates that, as an Island, matters of this nature are taken extremely seriously and that government will not hesitate to act in such situations.

"As the various matters are subject to ongoing criminal investigations we are unable to offer any further comment at this stage.

"We do, however, wish to reaffirm that significant and wide-reaching action has been taken and that the businesses involved at the centre of these allegations are no longer in operation as a result of the actions taken by government."

Following the publication of the report in the early hours of this morning (Friday, 23 August) Manx Radio contacted the Isle of Man Government, the Isle of Man Gambling Supervision Commission and the Isle of Man Constabulary for comment.

The Isle of Man Constabulary told the station: "Further to the BBC article the investigation remains ongoing and due to this we will be unable to comment at this time."

Meanwhile callers to Manx Radio's Mannin Line, today, questioned whether Tynwald should be recalled to respond to the report.