Police investigate Blue Finance Suomi for financial crimes in Turku

The police in Southwestern Finland have announced an investigation into financial crimes involving Blue Finance Suomi, a financial firm headquartered in Turku. Authorities report receiving multiple requests for investigation related to the company, which has since ceased paying dividends and redeeming preferred shares. Preferred shares guarantee a predetermined dividend amount, with terms stipulating the buyback of shares at designated times.

The police have indicated that the inquiry pertains to G-series shares. Affected individuals across Finland are being urged to respond. In late September, the police sent emails to hundreds of stakeholders requesting information regarding the matter, including any claims for penalties or compensation.

Riikka Laaksonen, the lead investigator, stressed the importance of prompt and precise responses to the emails received from the police, noting that the number of replies has been low thus far. This may be attributed to concerns over potential phishing scams. Laaksonen advised anyone doubting the legitimacy of the email to contact the police for confirmation on the financial crime investigation.

Importantly, Laaksonen reiterated that the police never ask for banking credentials, and the emails are sent from addresses ending in police.fi.

Additionally, Blue Finance Suomi has faced legal scrutiny. Last week, Finland’s Supreme Court ruled that the company violated price regulation laws applicable to credit companies. The court found that Blue Finance had charged various costs outside of the allowable limits for credit pricing, resulting in consumers paying more than allowed by consumer protection law. These charges were integral to the overall credit agreement.