Problem Gtl trading dmcc

[dubaiscam]

Another bad news...

According to reports in the Gtl Tradeup facebook profile,Riaz and his wife have left the Country.
https://www.facebook.com/GTLCapitalManagement

 

[dubaiscam]

It seems to be confirmed:Riaz and his wife have left Australia,despite promising ASIC they wouldn't left the Country( p.9 liquidators report).Goodbye money!
Riaz and the liquidators are looking very chummy,but that was to be expected!
Either way,ASIC and local judicial authority,come off rather badly.

 

[dubaiscam]

Mahmood Riaz:fraudsters never sleep...

Looks like a New Zealand-domiciled GTLTRADEUP (NZ) has changed its name to QFOREX (NZ) LIMITED ( Level 27 PwcTower 188Quay Street Auckland).
Umh...I've the feeling a new fraud is starting...

 

[dubaiscam]

Looks like a New Zealand-domiciled GTLTRADEUP (NZ) has changed its name to QFOREX (NZ) LIMITED ( Level 27 PwcTower 188Quay Street Auckland).
Umh...I've the feeling a new fraud is starting...

Document Filings Details

 

[RahmanSL]

Looks like a New Zealand-domiciled GTLTRADEUP (NZ) has changed its name to QFOREX (NZ) LIMITED ( Level 27 PwcTower 188Quay Street Auckland).
Umh...I've the feeling a new fraud is starting...

Thank you for the info.
Can't you beat it with a stick/club before it metamorphosis into another bucketshop broker??

 

[dubaiscam]

The meeting of creditors will be held on 11 october,but I think it's as useless as tits on a bull.
The money is gone,Mahmood Riaz is also gone...
Many thanks,ASIC!

 

[Trader Gaz]

Old serial fraudster (search web) Mahmood Riaz has pulled his scam on Australian Broker GTITradeup Pty right under the useless regulators nose. Siphoned all money out of Australia and channeled it through GTITrading DMCC in U.A.E. Liquidated AU branch and fled country with his wife overnight.

Highly wanted scammers are Mahmood Riaz and Leila Riaz as well as many other associates. He still has a welcome party waiting for him in europe if he ever travels there again and I read the Mafia are not happy with his Italian $36m fraud and are watching him closely.

His next scams are aimed at New Zealand but regulator has been tipped off so it will be a tricky one for him. However watch out as he may try to open up a Broker near you.

Always search for who is the Director or set the Company name up and look out for Riaz associates as there are plenty of them all involved.

He is the Forex Brokers largest fraudster by far and the scourge of the industry.

 

[dubaiscam]

I saw that some australian customers of Gtl Tradeup ask to get the Gtl Trading dmcc trading records These papers simply don't exist or they are fake.
Gtl Trading dmcc seems to work without a proper brokerage licences.This company has only function as a collector of the proceeds of fraud

 

[dubaiscam]

Today we have held the creditors meeting,of course without producing results.
We can assume this probable scenario:in order to defraud the clients “legally and safely” they likely opened with two different accounts,two equal but opposite leveraged positions.(long and short).The clients suffered the losses on the wrong side of the trade and Riaz pocketed the profits.
Either way,two questions remain:
1)We need to understand why they sent the money overseas in a bad and unsafe jurisdiction.
2)We need to understand why Riaz claims it be Dubai based Gtl trading's fault for having dusted $3,5 million.As is known,Gtl trading dmcc and Gtl tradeup are parent companies and have the same owner (Riaz).It's therefore nothing more than a trick which makes it possible to pass the money from one hand to the other

 

[dubaiscam]

About the creditors meeting again...

Today we have held the creditors meeting,of course without producing results.
We can assume this probable scenario:in order to defraud the clients “legally and safely” they likely opened with two different accounts,two equal but opposite leveraged positions.(long and short).The clients suffered the losses on the wrong side of the trade and Riaz pocketed the profits.
Either way,two questions remain:
1)We need to understand why they sent the money overseas in a bad and unsafe jurisdiction.
2)We need to understand why Riaz claims it be Dubai based Gtl trading's fault for having dusted $3,5 million.As is known,Gtl trading dmcc and Gtl tradeup are parent companies and have the same owner (Riaz).It's therefore nothing more than a trick which makes it possible to pass the money from one hand to the other

(Errata)A short correction.The money that Riaz pinched,stands at $4,3 million instead of $3,5 million.

Moreover, we now know (hi,hi,hi!) why the money was sent from GTL Tradeup to GTL Trading dmcc.It was only because the Dubai-based company offered superior hedging rates.(sic!)

Plus,the following “question and answer” is extremely significant revelation:
-A question for mr Jeffer: I’d like to refer you to paragraph 2 of page 6 of the Product Disclosure Statement which states that “hedging with counterparties that are considered by Standard and Poors to be of an A+ or higher credit rating”. You state that GTL Trading’s two key hedging counterparties are ABN AMRO and Rabobank. Why then did DMCC end up with $4.3m of these funds?
-Jeffers replied: Yeah that’s a good point, um, I can’t answer that. (sic!)

Anyhow,don't worry, relax.Mahmood Riaz says he's working on a way to return the money, and will report back in two weeks.(sic!)