Problem NoaFX failed to return EUR 275,000 funds

[Gian Piero]

I can imagine that ! what about you guys, are you involved with an authentic New Zealand Bar registered Law office……if that’s the case……they can/MUST find the solution.

An investigator has been appointed and the Law Society is taking very seriously all the allegations.

 

[scam hunt]

Here is another FB page of fx scam by Karthik Subramanian

https://www.facebook.com/Trading-Using-Murray-Maths-and-Price-Action-74800192451/

 

[Gian Piero]

Here is an archived Karthik Subramanian` s FB page in 2012 Dec there are lots of infos about him

http://archive.is/YxG5

Thanks for your post, scam hunt.
It's good to see how enthusiastic Karthik Subramanian sounded about his new scam toy FxEthos.

Back in August 2015 I was just barely aware that FxEthos had been sort of bad mouthed and the supposedly controlling company (Ethos Capital Limited) had been placed into liquidation. Although apparently no scam story about FxEthos had still popped up to my knowledge, that was one of the main reasons I insisted on opening my trading account at NoaFX (along with an allegedly funds segregation scheme administered by a law firm).
I was still eager to know from Mr Subramanian what had really happened with FxEthos:

[12/08/15 15:32:26] Gian Piero: what's the story behind the Ethos bad word of mouth?
[12/08/15 15:32:41] ns_karthik1: again, I want to be honest and upfront
[12/08/15 15:33:01] ns_karthik1: if I lie, people will find out anyway
[12/08/15 15:33:13] Gian Piero: of course
[12/08/15 15:33:15] ns_karthik1: the bad mouth, if you notice, is just from a single person..
[12/08/15 15:33:39] Gian Piero: an upset client or just one angry loser?
[12/08/15 15:33:47] ns_karthik1: and believe it or not, I do not know who he/she is...that person has been after me right from the days when I was working in a software company
[12/08/15 15:34:11] ns_karthik1: i used to be on twitter and used to share my FX analysis there
[12/08/15 15:34:23] ns_karthik1: and this guy started his ranting on twitter
[12/08/15 15:34:29] ns_karthik1: at that time, ethos was not even started
[12/08/15 15:34:35] ns_karthik1: i was working in a software company
[12/08/15 15:34:51] ns_karthik1: maybe he was some guy working under me in tat company and i pissed him off or something
[12/08/15 15:35:00] Gian Piero: and were you trading the markets for fun?
[12/08/15 15:35:04] ns_karthik1: yes
[12/08/15 15:35:17] ns_karthik1: he has been stalking for me about 7 years now
[12/08/15 15:35:22] Gian Piero: geez
[12/08/15 15:35:26] ns_karthik1: he comes wherever i go
[12/08/15 15:35:27] ns_karthik1: forums
[12/08/15 15:35:30] ns_karthik1: blogs
[12/08/15 15:35:39] ns_karthik1: twitter
[12/08/15 15:35:53] Gian Piero: he lost moneys because of your recommendations?
[12/08/15 15:36:06] ns_karthik1: i really don't know...if you notice he has no specific complaints
[12/08/15 15:36:22] ns_karthik1: nor any specific proofs abt anyone losing money
[12/08/15 15:36:24] Gian Piero: but he has been an Ethos client, hasn't he?
[12/08/15 15:36:30] ns_karthik1: no
[12/08/15 15:36:44] ns_karthik1: but he regularly comes on ethos chat
[12/08/15 15:36:48] ns_karthik1: nowadays its better
[12/08/15 15:36:50] Gian Piero: and put up all that mess? hard to believe
[12/08/15 15:37:03] ns_karthik1: there were days when he was on ethos chat probably 50-70 times a day
[12/08/15 15:37:14] ns_karthik1: just to irritate the people on customer support
[12/08/15 15:37:37] ns_karthik1: he would just login, ask some irritating questions to the staff and disappear
[12/08/15 15:37:53] ns_karthik1: or he would force them to utter something which he can use to post on his blog

According to Karthik Subramanian, the story behind FxEthos bad reputation all comes down to a single frustrated guy who devoted his efforts toward irritating the people on customer support for seven years and for no apparent reason.

I’m pretty sure Mr Subramanian is now offering a similar misrepresentation of facts to his other unfortunate clients who happen to read my horror story about NoaFX.

The 'stalker' Karthik Subramanian was talking about turned out to be 'Jon Greed', author of the already mentioned jon-greed.blogspot.com blog about FxEthos.

Although it looks just like a hater's blog, I have double checked all of Jon Greed's claims and everything matches up. It would be therefore appreciated if ‘Jon’ could join this thread and share his info about Capital Market Investments Limited.

 

[Gian Piero]

NoaFX is now labelled as SCAM.
Hope this will prevent other traders from being defrauded by those criminals.

Stay away from Capital Market Investments Limited and their bucket shops:

NoaFX (noafx.com)
FxEthos (fxethos.com)
Bulls Capital Markets (bullscapitalmarkets.com)

 

[WilsonW]

https://www.forexpeacearmy.com/comm...thdrawal-for-a-month.43667/page-4#post-239545

My total withdrawal of USD4991 also stuck since initiated on 1th April 2016.

 

[WilsonW]

Now, instead of a NZ address, on NoaFX contact page, its address has changed to
9, Karpenisiou Street,
Nicosia 2021,
Cyprus

So even a MT4 broker can be fraudulent!!!!

 

[Gian Piero]

Now, instead of a NZ address, on NoaFX contact page, its address has changed to
9, Karpenisiou Street,
Nicosia 2021,
Cyprus

So even a MT4 broker can be fraudulent!!!!

It has been like this since a while, although they don't hold any "support office" in Cyprus nor a CySec license and they still pretend to be New Zealand FMA regulated and FSP licensed. The usual misrepresentation of facts in order to appear reputable and deceive potential clients.

 

[Angel ren]

6000,00 usd for some emails (probably of no legal court value) ……something very wrong here personally I would get hold of the firms ruling authority’s.

Myself I am by 10k eur Law Firm expenses, a hole bunch of heavy Formal Registered Letters had been send out, towards sending Bank, receiving Bank The Royal Bank of Scotland, Worldpay, Allcharge, FCA, their Ombudsman services, local authority’s here in France etc….the follow up of the legal complaint was as well taken care…at this stage registered for civil action.

Each of these letters 4-5 pages resuming various laws, obtained reply’s, back and forth exchanges got established, quite some work load.

What’s sure today, thanks to this paper work, you can see the incredible lying and BSing of the RBS Bank and its client WorldPay (no need to mention Allcharge) their fraud departments all perfectly knew about these crime scheme they been supporting, its Business FIRST no space for CONSUMER ETHICS.

By the way we see it on FPA every day, how difficult it is for Victims to obtain positive chargeback, even though been involved with confirmed criminal entities.

(Sure, me to, quite some Profit on my account, but not in my pocket!

I have the same experience with Giambrone law firm. I paid GBP1300 to have two Letters before Action sent out to Binary Brokerz and of course received no feedback. I couldn't recover any penny with the assistance from Giambrone.

 

[Pharaoh]

Unfortunately, withsome scammers, it's going to take more than just the opening salvo letters from a lawyer. The next step is to dig in deep, find where all the money is hidden, and then take them to court. Since that money is likely to be spready half-way around the world, unless you are owed a LOT of money, it may not be worth it for one-on-one legal action. The alternative is to try to find enough other victims willing to do it as class action.

 

[Gian Piero]

Quick update: in order to prevent Capital Market Investments Limited (CMIL) scammers from making false representations of facts and defrauding other unaware traders who happen to read through this thread, please be advised that no issue has been resolved and no funds misappropriation has been settled to date. Albeit significant progresses have been made in tracing out the fraud, investigations are still ongoing and not a single dime has been returned to the rightful owners. CMIL officers/criminals are still at large and are completely ignoring even official requests by the investigating authorities.

For your own sake, stay away from Capital Market Investments Limited and their bucket shops NoaFX (noafx.com), FxEthos (fxethos.com) and Bulls Capital Markets (bullscapitalmarkets.com).