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The National Consumer Service (Sernac) announced this Wednesday that it will open an investigation against Happy and Lined (F&F) for possible misleading advertising.
The entity instructed the diligence after the economist Salvador Palma report in an opinion column in Pulse that the profitability that the company created by Gino Lorenzini claims to have achieved since the outbreak of the social crisis in 2019.
In the letter, which he titled as “A cruel deception”, Palma detailed that in its reports the F&F assures that “in the last 11 months, since the social crisis 10/17/2019 … the profitability obtained by those who follow the recommendations it is 14.09%, in circumstances that Provida fund A rented 4.53% and E fund 3.46% “.
However, the economist clarifies, “the law establishes that the materialization of the background changes is not instantaneous, but occurs 4 business days after the change request date. In this way, the access of its clients to the changes Suggested is completely different from F&F log, occurs 4 days later. When making the correction, incorporating the t + 4 of lag between when the change order is issued and when it actually materializes, the effective return obtained since October 17 by those clients who followed ‘to the letter’ the suggestions for change is radically different: 1.99% and not 14.09% as reported by FyF “.
That correction “means a difference in value for its clients of hundreds of millions of dollars in just 11 months,” says Palma.
After the publication of the column, the director of Sernac, Lucas del Villar, said to Radio Duna what “We are going to review that information and request the verifiability (of advertising) as we usually do.”
