FMA warns of illegal NZ Facebook offer

Be aware of 'Facebook shares'. Photo / Richard Robinson

The public is being warned of an illegal offer claiming to help Kiwi investors buy Facebook shares.

Facebook filed to become a public company last month and is likely to debut on the New York Stock Exchange or the Nasdaq stock exchange in two or three months.

But according to New Zealand's market watchdog a Singaporean-based company, Makko Securities, has illegally offered to help local investors purchase shares in the initial public offering.

The Financial Markets Authority said yesterday that it had had complaints from sharebrokers whose clients had been approached by Makko Securities and its senior account manager, Roy Lochen.

Because no Facebook stock is available to the public yet the FMA said any offer of shares was "likely to be a scam".

Because Makko Securities is not registered in New Zealand it cannot legally offer financial services or advice to investors.

Makko's website says the company has offices in Singapore, London and the Cayman Islands.

A female staff member from Makko Securities' Singapore office said Lochen was in a meeting and would be unavailable "for quite some time".

The staff member said no one else was available to make a comment.