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BetExp > < Corporation > - Winners Trend
By resolution no. 17696 of 15 March 2011, as a precautionary measure and in accordance with art. 99, paragraph 1, letter b) of Italian Legislative Decree no. 58/98, Consob has arranged for a 90-day suspension of the investment contracts offer made by the companies < BetExp > < Corporation > and Winners Trend to the public resident in Italy.
The supervisory activities performed by Consob have revealed evidence that < BetExp > < Corporation >, with declared headquarters in the United States and a branch in Portugal, and Winners Trend, with declared headquarters in Oporto, Portugal, are allegedly promoting the public subscription of investment contracts in bets on sports events, both through the website www.< betexp >.com and through other telematic channels.
This activity – which supposedly consists of the stipulation of a contract whereby the subscriber has the opportunity of investing in the betting market by opening two accounts with two different bookmakers and using a system referred to as the "< Betexp > method" presented as "zero risk" – leads to the grounded suspicion that the public is being offered financial products in breach of art. 94 of the Consolidated Law on Finance, without a prospectus having been first published. Hence the urgency of the measure, adopted in accordance with the stated art. 99 of the Consolidated Law on Finance.
(In Consob Informa n. 12/11 - 21 March 2011)