FSMA Issues Warning Against North Star Management Japan and Part Capital

The Financial Services and Markets Authority (FSMA) of Belgium has issued an urgent public warning regarding unauthorized financial firms operating illegally within the country. The regulatory watchdog specifically identified North Star Management Japan (operating via northstarjp.com) and Part Capital (operating via partcapital.com) as entities that lack the required authorization to provide investment services. According to the FSMA, these companies are suspected of operating as 'boiler rooms.' In a typical boiler room scam, fraudsters contact consumers unsolicited—often via aggressive cold calling or email—offering shares, wealth management services, fixed-term accounts, investment advice, or crowdfunding opportunities. While these entities often present polished websites and official-looking paperwork to appear legitimate, the offered financial services are completely fictitious or worthless. The regulatory authority detailed the standard modus operandi used by such entities: victims are initially lured in with a modest investment that quickly appears to generate substantial profits on screen. Fraudsters then heavily pressure investors to deposit significantly larger sums. However, when an investor requests a withdrawal, the operators demand additional deposits or fees, and the investor is ultimately unable to recover any deposited funds. The FSMA strongly advises the public against responding to any financial offers or transferring money to bank accounts associated with North Star Management Japan or Part Capital. Investors are reminded to check company credentials on official regulatory registers, watch out for cold calls and pressure tactics, verify bank account details (particularly when asked to send funds to unrelated overseas accounts), and remain cautious of clone firms impersonating legitimate entities.