Forex Peace Army Members Forums>

[Joa]

As of December 9, 2008, there is an investigation against Crown Forex SA on the way. As of that date (published in the corporate registry of the Canton of Jura on December 18) there are now two federal regulators/investigators appointed to Crown Forex SA to act on behalf of the company.
This action was taken because there are suspicions of "malpractice" or plain unlawful activities.

Crown Forex SA does NOT HAVE A LICENSE

I urge each and everyone involved with Crown Forex SA to immediately renew the withdrawal requests because now this would land on the desk of these appointed federal regulators. These two gentlemen are now the only two who can act in the name of Crown Forex SA. PLEASE ACT INSTANTLY

[royhalpin]

Crown has my money as well and I submitted my withdrawal slip before the investigation started. I wrote the Swiss Authorities and this was their quick reply:

Dear Mr Halpin

As you probably know, the Swiss Federal Banking Commission (SFBC) is the supervisory authority for the banking system, the collective investment schemes, the securities and derivatives exchanges and the securities dealers in Switzerland. Crown Forex SA, Bassecourt is not authorised by the SFBC to conduct business as a bank, securities dealer or in the domain of collective investment schemes. Please note, that if you cannot find a company on our website Unbenanntes Dokument (authorised institutions), it is neither authorised nor supervised by the SFBC.
If there are grounds for suspicion that a financial company is carrying out an unauthorised activity, violating laws or that there are risks for insolvency the SFBC will conduct investigations to establish the facts and, if necessary, take measures to protect investors' interests. The SFBC is in fact conducting an investigation to screen the activities of Crown Forex SA. On December 9, 2008 the SFBC has appointed a mandated investigator - Laurent Winkelmann, Chêne-Bougeries and Philippe von Bredow, Céligny as its agents to conduct these proceedings. Crown Forex SA commercial activity had to be suspended, its management is not allowed to speak or act for the company. This right is reserved to the investigators. It is currently not possible to withdraw money from Crown Forex SA accounts. The above information has also been published in the Swiss trade register.

Depending on the investigator's report, the SFBC will decide how to proceed and may publish its decision on its website. We hope that we were able to assist you. For the time being, this is the only information we can provide.

Yours sincerely


Secretariat of the
SWISS FEDERAL BANKING COMMISSION



sig. Simone Flach sig. Christina Bürgi
Communication&Media Communication&Media

Schwanengasse 12
P.O. Box
CH-3001 Berne
Tel. +41 31 322 61 56
Fax +41 31 322 69 26
mailto:christina.buergi@ebk.admin.ch
Unbenanntes Dokument

[PistolDave]

Well, this quote from above pretty well sums it up:

"Crown Forex SA commercial activity had to be suspended, its management is not allowed to speak or act for the company. This right is reserved to the investigators. It is currently not possible to withdraw money from Crown Forex SA accounts. The above information has also been published in the Swiss trade register."

It looks like another scam forex broker (bucketshop) is about to bite the dust.

So much for it being more trustworthy because it's located in Switzerland.

Happy holidays.

Hope you can avoid being the next "sucker" for the forex business.

PD

[Scam Investigations Committee]

Crown Forex is being liquidated. The details are here...

Big, Swiss, and Bankrupt

[TheMan]

another horror story. I hope and pray u guys recover your funds, and these scammers go to jail!

just how much money did these con-artists get away with?

[Nancy Cheah]

Maybe billions worth of American Dollars I guess.

Regards.

[Cesil]

Cripes. That all makes for some pretty scary reading

[blackwidowfx]

As soon as I saw in the address P.O.BOX

Crown Forex address:
St.Hubert 38 , 2854 Bassecourt P.O.Box 247 , Switzerland

It is Red Flag already just from the start.
****************************************

Article posted by Faraon is great, it is show when problem is started and why.
Answer is Crown Forex may be was trading by them self traders money and lost or they just simply ignoring traders and want to collect as much as they can. Bustards. They deserve to be Bankrupt, I just hope they will return money to investors.

[TheMan]

unlikely, you may have to sue them in court, and spend for lawyers and stuff. Well, can anybody give their experiences on how they got back their money?

[katalin Kovacs]

Is look like they going down with a fight, this from Francesc's Weblog.

Francesc’s Weblog » Crown Forex S.A to file an appeal to FINMA’s liquidation decision Wednesday June 10th