Havelock Investments Halts Neo & Bee Fund Trading Due to “Abnormal Activity”

Eric Calouro
By Eric Calouro March 28, 2014 18:46 Updated

Havelock Investments Halts Neo & Bee Fund Trading Due to “Abnormal Activity”

Neo Branch Cyprus Facade

In an announcement posted on the Havelock Investments website, it would appear as if the trading of the  Neo & Bee fund has been halted. Transfers have also been halted. Here’s what the announcement read in full:

Havelock Investments has been formally informed by the Pass-Through Fund Manager of NEOBEE that the compliance officer of Neo and Bee Ltd has stated that due to an increase of abnormal activity on the LMB share platform, there may be a high possibility of questionable trading activity. While Neo and Bee Ltd investigate the issue further they have strongly recommended that we halt trading and transfers.
Havelock Investments has halted the NEOBEE fund and is awaiting further instructions from the issuer.

Details at the time of this writing are scarce, but certainly this news is cause for concern in the community.

Havelock Investments later took to the Bitcointalk forums to clear that the issue relates to Neo & Bee and not Hacklock’s trading platform:

The request to Halt trading was made by the Compliance and Risk Management Officer at Neo and Bee Ltd.  The issue has to do with their Exchange platform and not with Havelock’s platform. All of our other Funds are working as usual. We hope that the situation will be resolved as soon as possible. All questions should be directed to LMB holding – Neo and Bee.

As you can imagine, we do have many questions. newsBTC has reached out to Neo & Bee for comment, but a response was not received before publishing. Per usual, we will keep you updated as we learn more information.

Eric Calouro
By Eric Calouro March 28, 2014 18:46 Updated
  • Nasim

    “Hacklock’s” trading platform lol…
    should’ve known this was coming since btcwhale was pumping them so hard a few weeks ago.

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