Missouri regulators warn investors about possible fraud

Missouri regulators are warning investors about a possible fraud involving a company already facing action by regulators in California and other states.Profitable Sunrise has been promising gains of 1.6 percent a day – which compounds to more than 5000 percent in a year – or even more, according to the Missouri Secretary of State’s office. The Profitable Sunrise investment offer comes from a firm called Inter Reef Ltd. that is based in Birmingham, England, the state said. Individuals involved in the scheme include Roman Novak and Radoslav Novak, who are brothers and own Inter Reef. The Missouri Securities Division is investigating the men and their operation. Missouri also is investigating two other ventures called Felmina Alliance and Roxilia Investments.Any one who has invested with these should contact the division at 800-721-7996.Missouri has not received complaints about them but its notice said investors in other states have lost money in the ventures. California officials took action against Profitable Sunrise last week by issuing a desist and refrain order. Officials charged the business and individuals with violating California law by selling unregistered securities.Missouri’s alert also said the investments and individuals are not registered with the state to legally make investment offers to individuals.