Ponzi Scheme Did anyone hear of UTMarkets forex broker in London?

[Marcelo Rosa]

You have a vested interest in having this scheme continue. You have received your money back, so zero stress just profits as long as this Ponzi continues:

You seem to know it is too good to be true but would like it to continue. Positivism is the way I guess:

Feeding people's greed and promoting future profits:

Encouraging others to sign up new recruits/referrals:

Facilitating account openings and taking commission:

You have indeed been deleting comments:

To all the promoter's: stop conning others, do not play with your colleagues futures.

To the UT groups: open them up, stop banning people, let the truth be told and people will make their own decisions.

Yes, profits have not been paid.
Yes, account closures are denied and asked to wait 3-6 months.
Why are these facts being covered up?

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Update: Majority of incriminating posts have disappeared.
Jonathan has taken down the site
David Smith has disappeared from all groups.
Jeremy has deleted 99% of his posts
Zuzana and Benjamyn have also cleaned their posts and denying any ties to UT.

Scared investors knowing full well its a Ponzi are still around. They obviously need the scheme to last as long as possible, and are desperately trying and keep everything rosy.

Those who actually thought they were investing in Forex - GET OUT if there is still time.

If you want to know what is really going on visit FPA regularly.

Amazing reply, this is what we are looking for: Factual information to show the truth, one of the best posts I've ever seen on FPA.

 

[RainDXB]

How would Emirates like having a conman for an employee?

It's ok, the site is still there, I think Jonathan has just left. I have conversations with him saying he knows people inside and he promotes it so it can run for longer.


It would be very interesting to know who that guy david smith is. Once his identity is verified, he's screwed big time.


I might not get any money back, but I'd be more than happy if these guys end up behind bars.

 

[HediBen]

It's so funny how you are reacting, and you just said it now! your problem is to find someone to blame! well go ahead and raise a case against me Mr clever... Cutting screen shots of posts to show up remind those ppl who created fake videos by cutting only small sentence from what people are saying... you are a crying baby who want to find someone to blame because they lost in their investment! I'm sure when UTM was paying on time you were the first one to thank them and talk about it to all your friends hehehe now that that start facing problems you pretend being different... In this type of situation it's more clever to be united together instead of looking to blame someone to make you feel better.
And yes it's normal to remove the post were people don't respect each other and go over the limits Again I say it, I never deleted any post from anyone related to UTM, everyone is free to express his thoughts...

 

[Pharaoh]

I'm still waiting to see a UT or Exential cheerleader step forward and say "I was wrong. It really was a Ponzi all along."

Even if the owners are all caught, tried, and convicted, I doubt I'll see such a statement.

 

[HediBen]

well man, it doesn't look nice now for UT, however no one knows or can assume something! only time will show us the truth... regarding exential, the good part is that it's in the hands of the authorities now, I'm sure they will announce the final verdict soon.

 

[HediBen]

You have a vested interest in having this scheme continue. You have received your money back, so zero stress just profits as long as this Ponzi continues:

You seem to know it is too good to be true but would like it to continue. Positivism is the way I guess:

Feeding people's greed and promoting future profits:

Encouraging others to sign up new recruits/referrals:

Facilitating account openings and taking commission:

You have indeed been deleting comments:

To all the promoter's: stop conning others, do not play with your colleagues futures.

To the UT groups: open them up, stop banning people, let the truth be told and people will make their own decisions.

Yes, profits have not been paid.
Yes, account closures are denied and asked to wait 3-6 months.
Why are these facts being covered up?

----------------------------------------------------------------------
Update: Majority of incriminating posts have disappeared.
Jonathan has taken down the site
David Smith has disappeared from all groups.
Jeremy has deleted 99% of his posts
Zuzana and Benjamyn have also cleaned their posts and denying any ties to UT.

Scared investors knowing full well its a Ponzi are still around. They obviously need the scheme to last as long as possible, and are desperately trying and keep everything rosy.

Those who actually thought they were investing in Forex - GET OUT if there is still time.

If you want to know what is really going on visit FPA regularly.

why you don't show the full story behind your screenshots? for this one it was a poll that I created to see what ppl think about UT! scam or no, it look different when it's all the story and not a sceen-shot of a comment...

and this one? it was a discussion about a promotion and I was replying a question asked by one of the members... now it look different also?!

and finally, this was joke that we always make about 200k account holders as they always late to share how much they make per trade...

Man, i don't see the purpose of your comments trying to blame me or others that we work for ut and promote them... I even asked my members what they think about the group and they all want to keep it as it keeps us united with what ever will happen in the future. start taking proper actions instead of blaming other investors because they have been positive about this investment.

 

[VoiceOfLogic]

Can't believe I have been working with scums like that as work colleagues. You guys have no shame, no moral and I hope that whilst you enjoyed your fancy time in Dubai, you will be sent back to the hole you crawled out from.
And maybe only then you will begin understanding that you had once in a lifetime chance to better yourself and your family financially ( through very hard but honest work ) and intellectually ( mixing with others, travels etc... ).

I am glad I no longer belong to EK and that I am back amongst true professional of all trades.

 

[Maverick1]

The end for UT live now drying all the accounts to 0 soon.

 

[Marcelo Rosa]

Remember what I said about hedged positions few posts ago? It's one of the signs that the company will start doing to give excuses to the clients not to be able to close the accounts if the client wish to do so. Ask to close your account right now, they may say you the following: "Dear client, the closure of the account it's not possible because of the opening positions and you need to understand that it's a system and it needs to let the strategy works and just after the system closes the trades, you'll be able to cancel your account"

For the first time this particular account has actually losses, it's currently 8%, it's not a big deal, this is acceptable in the Forex world if you ask me. But this is not the main concern, it concerns me that the system is over +90% profitable and almost never lost, which for me, it is almost impossible in a real world to maintain such winning ratio, then in just 2 trades lost 8%, this is what you should start worrying about.

Now don't be surprised if those hedged positions remain opened for a long time, note that there are no stop losses and no take profits, so if they really want, they can leave it open for as long as they want, I've seen this before, if you see my posts from other companies that collapsed in the past, it's always the same situation and way of persuade the clients to leave their account opened and to do whatever they can no to close the clients account.

To be honest, I wish I can say nothing is going to happen, at the end of the day, I have a lot of colleagues that invested their money with UT, specially if you leave out and has to pay your rent and other liabilities, if you have a loan, it can be a quite anxious situation, but the lack of transparency and regulations that I always mentioned is the scary part. Now, I'm going to say again, don't throw your money on Fx-Expert as I've seen some colleagues doing already, it they are proved to be the same company, you'll get stuck again.

 

[burned_in_the_desert]

Bulgarian authorities and FSA notified. Interpol next. The more people that do this now, the better chance that action will result.If anyone knows of actual names of individuals in Europe or with Emirates please provide them to the relevant authorities. I believe there was an earlier post with known aliases and names on this thread.
I know my money is gone. It wasn't a lot and it won't really impact me. However, it is my hope these conmen do some time in a lovely jail someplace.