The British Virgin Islands Financial Services Commission (FSC) issued a public warning stating that Sorin Iancu has never been licensed or regulated by the FSC to carry on any type of financial services business. The FSC said a forged investment business licence is being circulated that falsely claims Sorin Iancu is authorised in the British Virgin Islands to conduct investment business, including dealing in investments as principal and arranging deals in investments. The FSC advised the public to exercise extreme caution, avoid doing business with Sorin Iancu, and provide the FSC with any relevant information on questionable entities or improper activities purportedly operating in or from the Territory.