The Autorité des marchés Financiers (AMF) had recently released a public warning against Magaffaris for offering investments in various mutual funds and alternative investment funds without the proper authorization.
The detailed documentation of these offers of investments in the various mutual funds reveals that they had no authorization for marketing in France. Furthermore, the company also lacked the legal statutes that would authorize it to offer its subscription to mutual fund units to investors in France.
The AMF has warned investors to not conduct any business with persons and/or entities that are associated with Magaffaris, and also no to pass their marketing advertisements to third parties.
Additionally, AMF goes out of its way to remind investors to research the companies or intermediaries trying to sell them products or services, invest only in what they understand, find out how the price of a product or service is set, and that high returns will always involve high risk.