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

[alina15]

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.

How did you notify the authorities? I would like to join the claim!

 

[alina15]

Let us all take action trying to find people responsible.

 

[Tayler.FX]

All those who work for UT and made groups are working for Emirates airlines, there is group security there that look into such stuff.
I encourage you also to file a complaint there too, hopefully before they run away with the commissions and money they earned.
Now most of who own the groups on Facebook trying to shut down the groups to remove all the evidence that they were just part of UT, they will create group only for people talk positive if anyone talks negative will be deleted.

Just recently before the mess they were promoting 7% cash bonus that only you get it through their IBs like Hedi or Jeremy. all those posts and discussions now are deleted and soon they will remove their groups.

 

[chicken.or.beef]

How did you notify the authorities? I would like to join the claim!

Alina, Bravo for wanting taking responsibility and taking action against this Ponzi scam.

As the Exential Ponzi has taught us, the longer you wait, the less chance of recouping your capital.

Firstly official complaints must be made in an effort to freeze any money.

Email the Bulgarian Financial Supervision Commission (FSC - like the FCA in the UK, they can assist) email: delovodstvo@fsc.bg and cc to: bg_fsc@fsc.bg .

You should also fill out the online form of the Interpol financial fraud team at http://www.interpol.int/Forms/Contact_INTERPOL .

Do not leave it too late as Exential clients did. There still might be time to freeze the money and at least recoup some of it back.

Include the name, and Tel number(even a UAE mobile) of any What's up contacts you have been in contact with regarding account opening.

Be sure to quote the bank account number that you sent the transfer to

and;

the person who refereed you(the person who received commission).

We recommend you also hire a Bulgarian lawyer and file a suit for breach of contract (if they have refused your account profit and closure , as per contract).

Praying and hoping all is going to be OK is just naive and makes NO SENSE. TAKE ACTION NOW!

Exential clients did nothing and hoped all would be OK when profit payments stopped in late 2015. What did they get from the waiting/hope - NOTHING. Exential locked down by authorities in July. Waited 7 months and all the money has disappeared. BE SMART!

If you have not received your profit as per contract - alert the authorities NOW.

If you have requested a closure/termination and not received money as per contract - alert the authorities NOW.

If you want to close your account as per contract, and are denied - alert the authorities NOW.

YOU HAVE NOTHING TO LOOSE AT ALL. Do not think taking action will affect your profits. If it is proved a Ponzi relying on new joiners, it is over now anyway. it makes no difference, as per UT(read the last email!) no upgrades or new clients are allowed at this stage - so hoping new people will join to pay your profit is not an option anyway!!!

Freeze down the money before it disappears. You could still get something back.

Panicking will not make it worse. Not paying profits as per contract and not executing account closures renter this investment useless.

Ponzi schemes rely on new investers. How many new investers do you think UT will have now? ZERO. Waiting makes no sense.

 

[Nastasya_2511]

Alina, Bravo for wanting taking responsibility and taking action against this Ponzi scam.

As the Exential Ponzi has taught us, the longer you wait, the less chance of recouping your capital.

Firstly official complaints must be made in an effort to freeze any money.

Email the Bulgarian Financial Supervision Commission (FSC - like the FCA in the UK, they can assist) email: delovodstvo@fsc.bg and cc to: bg_fsc@fsc.bg .

You should also fill out the online form of the Interpol financial fraud team at http://www.interpol.int/Forms/Contact_INTERPOL .

Do not leave it too late as Exential clients did. There still might be time to freeze the money and at least recoup some of it back.

Include the name, and Tel number(even a UAE mobile) of any What's up contacts you have been in contact with regarding account opening.

Be sure to quote the bank account number that you sent the transfer to

and;

the person who refereed you(the person who received commission).

We recommend you also hire a Bulgarian lawyer and file a suit for breach of contract (if they have refused your account profit and closure , as per contract).

Praying and hoping all is going to be OK is just naive and makes NO SENSE. TAKE ACTION NOW!

Exential clients did nothing and hoped all would be OK when profit payments stopped in late 2015. What did they get from the waiting/hope - NOTHING. Exential locked down by authorities in July. Waited 7 months and all the money has disappeared. BE SMART!

If you have not received your profit as per contract - alert the authorities NOW.

If you have requested a closure/termination and not received money as per contract - alert the authorities NOW.

If you want to close your account as per contract, and are denied - alert the authorities NOW.

YOU HAVE NOTHING TO LOOSE AT ALL. Do not think taking action will affect your profits. If it is proved a Ponzi relying on new joiners, it is over now anyway. it makes no difference, as per UT(read the last email!) no upgrades or new clients are allowed at this stage - so hoping new people will join to pay your profit is not an option anyway!!!

Freeze down the money before it disappears. You could still get something back.

Panicking will not make it worse. Not paying profits as per contract and not executing account closures renter this investment useless.

Ponzi schemes rely on new investers. How many new investers do you think UT will have now? ZERO. Waiting makes no sense.

Hello. I want to do as much as I can. But wouln it help?

 

[burned_in_the_desert]

I have notified the FCA. That's fairly easy and anyone can do that though not sure what could it will do. At the very least, it should put them on the radar and get authorities looking into it. I know of some who are Bulgarian and they will attempt to contact authorities there should this, in fact, turn out to be a scam. I'm still looking for ways to contact in English or other languages. Interpol may be an option too if this is very large as it could potentially be something that impacts a wide number of nationalities from across Europe and the world. Their information is fairly easy to find on the web, but it may still be early for that.

 

[burned_in_the_desert]

Thanks to chicken or beef for the additional relevant information. Get on it people.

 

[VoiceOfLogic]

I have to ask.
What made UT investors here, think it was a genuine investment ?
What economic review, data, reading backed up your initial choice to join the scheme ? What knowledge do you or did you have of Forex, stock trading ? Or of any form of investment for that matter.

I am really trying to understand this as I now think this is the key to why people join what turns out ( often ) to be scams.

Please be honest so we might learn something. I understand that clearly the potential gains blinded most but I am more after what's beyond, if there was anything.

 

[Marcelo Rosa]

Dear members, I just heard that the investors originally from Bulgaria had their accounts suddenly closed few weeks/months ago without notice, can anyone confirm that? Because if this is true, it actually makes sense, so the local investors won't complain to the local authorities, leaving only foreigners to complain about.

Is there anybody from Bulgaria that has/had account or have a friend from there to confirm this?

 

[alina15]

Guys, investors, join the Facebook group UT Markets - Truth https://www.facebook.com/groups/1044179072355967/.
we have a plan there. Come on, time to take action.