FMA Warns of Adsplus Limited Unreasonably Withholding Client Funds

The New Zealand Financial Markets Authority (FMA) is concerned that Adsplus Limited (Websites: https://adsplus-limited.com) is operating a scam, for the following reasons:

• Adsplus Limited claims to be operating from a New Zealand address in Auckland. The FMA does not believe this is true;

• The FMA is aware that Adsplus Limited has sent letters in the name of New Zealand Inland Revenue Department to one of its clients. The watchdog believes these documentations are false;

• The persons shown on the "Meet Our Leadership Team" section of their website are fictitious persons created using the images copied from other websites; and

• Unreasonable withholding of client funds. FMA understands Adsplus requires clients to pay large sum of tax payments for clients' withdrawals to be processed. The client funds were not released despite the tax payments were made.

• ​Adsplus Limited is not a registered financial service provider in New Zealand.