We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and have reached a conclusion. It is our opinion that...
The forex options company known as Hong Kong Forex Co. Ltd disappeared after failing to return funds due to the FPA members known as Michael 123, Greg333, lppjp, Ralph08, and fieds83. Total losses from our members are in exceess of several hundred thousand US dollars. We aren't sure just how many other traders lost money in this, but if our traders are any indication, these fraudsters have run off with quite a few millions of dollars. Failure to return money to traders upon request is the primary definition of "Scam" for the members of the Forex Peace Army.
Further, the Hong Kong Forex Co falsely claimed to be regulated by a Financial Services Regulatory Association. This was a fake website used to gain the confidence of victims of this fraud.
The FPA does not normally deal with forex options, but due to the extreme nature of this case, we feel it is necessary to provide a proper scam finding and to warn our membership to be aware of scams like this.
Thus, we officially find that Hong Kong Forex Co. Ltd is a scam. We will only consider lifting this scam finding if the owners of this company come forward, return all the money they have taken from traders, and then turn themselves in to the proper authorities in the Hong Kong SAR of the People's Republic of China for further judgement.
We extend our deepest sympathies to our members as well as other traders who have lost money due to the criminally fraudulent actions of Hong Kong Forex Co. Ltd.
Hong Kong Forex Co. Ltd is hereby blacklisted by the Forex Peace Army.
We strongly encourage anyone who had money with this company to contact the proper authorities in your country as well as the Hong Kong police.
The original complaint and statements by our members can be found here
Scammed by HK Forex
Hong Kong Forex Co. Ltd -
06-09-2008, 09:11 PM
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