March 28, 2024

A number of Fijians have lost over $20,000 at the hands of Global Finance Ltd.

Consumer Council Chief Executive, Seema Shandil, says Global Finance Limited claims to be in the business of financial services, taking deposits and providing loans that never eventuate once deposits are received.

Shandil says the business’s unscrupulous operations were first discovered last year 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.

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The Council has received over 20 complaints against Global Finance with a monetary value of almost $24,000.

In one of the latest cases lodged at the Council, a consumer paid $4,565 as membership fees and deposit to obtain a loan of $15,500.

The Consumer Council CEO says while an agreement was signed between both parties, the so-called Global Finance owner disappeared after receiving the cash.

She says the individual in question, is a notorious con-artist who has been going around and preying on vulnerable communities across Fiji; including rural and maritime areas.

Shandil adds that recent cases reveal Taveuni and Savusavu was his target areas.

The Reserve Bank of Fiji also issued a statement in November cautioning consumers about Global Finance stating very clearly that it is not a licensed deposit taker in Fiji, and should not be soliciting, accepting, or given any form of deposits from the general…

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