Forex Trading Invesment (Warning: Almost certainly a scam)

[JDMcNugent7]

I would be willing to do a pretty big, like 20k investment, if somehow i could avoid the 15-20 day thing.

I could ship u the $ on FTP or stars and u act like it's your own investment or something so your uncle does it in a day. Then you pay me back through ftp.

Also, we should combine $ so our inital investment is bigger and we could get a higher return.

[thrash1294]

link please

[Akverno]

A couple of links I thought of when reading through the description.

[Zybomb]

I kinda had a feelin there'd be at least 1 response along this nature.

Like I stated Im not guaranteeing anything to anyone, but I was trusting in my friend's uncle enough to put $5000 into this company and I purposely waited 2 months before bringing it up to anyone , specifically so I could see actual returns firsthand before mentioning it to anyone else

I obviously cant guarantee results to anyone, I can just say what I've been told by my friend's uncle, what Ive seen thus far myself personally and what I have personally invested.... with that said, if you or anyone has any doubts, dont invest. If its money you cant afford to lose or whatever, also dont invest

[sjay2k]

This is a scam.

If these guys are actually geniuses who can provide such amazing returns, do you really think they would engage in such amateurish business practices? Would someone making such ridiculous amounts of money really solicit $100 investments and run a rickety website in Panama that can't support its own clients' traffic? The "category" system they have created is bizarre, and shows just how small-time these guys are.

Forex trading is extremely speculative and high variance. The idea that you are peddling -- that forex trading can return consistent double-digit monthly returns -- is absurd.

The difficulties in getting money in or out is another giant red flag. I suspect that your friend's uncle was happy to do the transfer because he realised it's the only way he can actually get some of his cash back.

The fact that you didn't post the company's name and website is also extremely suspicious.

[sjay2k]

Sounds a lot like this:

"WinCapita, previously WinClub, was an Internet-based investment club, advertising that it was engaged in currency trading....During the investigation the Finnish police have not found any evidence of the advertised currency trading; the operation was allegedly a forex scam scheme.... The company itself was registered in Panama"

[sjay2k]

I found the company's name: Finanzas Forex. The Spanish financial regulatory CNMV issued a public warning about the company, stating that it did not have a licence to trade forex. A few highlights:

-FINANZASFOREX is the commercial name of the company EVOLUTION MARKET GROUP INC, incorporated and with its official address in Panama with the Spaniard GERMAN CARDONA as Chairman.

- The activity of this company consists of the offering of investments in the Forex market, guaranteeing a profitability ranging from 10 to 21 per cent.

- The company offers the possibility of becoming promoters to investors. This means that by becoming a promoter, they become customer’s recruiters and are offered an accumulative percentage of the amounts deposited by the recruited clients up to the seventh step, plus a series of bonuses including luxury cars and financial grants for an amount of 60.000 euro for the acquisition of housing for this activity. This is why, investors/promoters are keen on finding new ones.

- The Comisión Nacional de Valores of Panama has already issued a warning against this company for carrying out restricted activities from Panama without having obtained the required licence.

- The company has been carried out its activity not only in Spain but also all around the world. The company’s web page is in the following languages: Spanish, English, French, Italian, German and Portuguese.

- According to information disclosed by staff linked to the company, on 15th March 2008, the number of clients recruited by the company in the countries where the company performs business activity has added up to 18,720 clients and the amount collected up to 121,154,519 $. The company presents an increase of 600 clients and 2 million $ a day.

- Regarding the cash flow, clients must transfer their deposits to the American company CROWNE GOLD, which pools all cash entries. Once a week, the amount received is sent to an account held at the alleged Swiss broker DUKASCOPY (Suisse), S.A.

-The number of promoters all around the World is unpredictable due to the extremely high number of clients.

- Up till now the number of promoters performing activities in Spain is unknown, however, the CNMV knows that there are several promoters operating in the areas of Barcelona, Madrid and Basque Country, having recruited, only in the area of Baracaldo, more than 100 clients.

- SANTIAGO FUENTES JOVER is the most active promoter in Spain, this individual has his own web page, , where he explains, among other issues, that FINANZASFOREX is in the process of regularising its status before the CNMV since it has started the formalities to obtain the status of “Casa de Bolsa” (investment firm), qualifying this fact as a good news to enhance investors’ confidence.

- According to the information available to the CNMV, SANTIAGO FUENTES JOVER has been involved, since 2002, in different business activities performed through the Internet (communication systems, bets, games, etc) that have produced important losses to clients."

[Zybomb]

Ill talk to my friend and have him talk to uncle tomorrow and see if this is cool. I'll let you know tomorrow and give the rest of the info