FX Scam Algotechs (https://algotechs.com/ ) and BeAlgo (bealgo.com)

[hverma]

I have a new thread with below link. Can you at least let me know what can be done in these kind of cases. Can we start some legal proceedings from outside the country or not?

https://www.forexpeacearmy.com/community/threads/algotechs-and-bealgo-withdrawal-issues.58437/

 

[marioiacio]

I have read the article before also and thats why I invested. The problem is not with Algotechs but with BeAlgo which is there broker. They are now saying that there bank Københavns Andelskasse has been taken over by the Danish authorities and all the outgoing transactions are now frozen and thats why my money is also frozen. I am quite scared if my money is lost now and all this is a scam or something.
Can i know when did you request withdrawal and when did you receive your money.

Do you know what should someone do in above case like me, also others have said the same thing like me.
Can i contact you in person by a call or something?

This begin o f the week i transferred 10K to their bank account but the put the 10K back in nu account and asked me to transfer to snotter of their accounts. If anybody there would gave been as mentioned in this thread why did I get the 10k back ? Their banks and internal financial processes are not optimal but so far I have not experienced any theft.

 

[hverma]

Do you have any proof of your statement? I have all the proofs thats its 2 weeks now and they not transferring the funds. Why others in this thread are not speaking up now?
Where is @FxMaster

 

[hverma]

No. The situation continues.

Nanda

Hi Kishore,

Are you also getting the reply that your funds are frozen as the bank has been taken over?

 

[cyberwiz]

THAT IS A LIE MY FRIEND i do not work for anybody and am not promoting anybode here. I am just someone who invested money just like you and I got it back when asked. I TOLD YOU GO AND READ wealthandfinance-news.com/algotechs-algo-trading-software-the-true-future-of-the-investment-industry/ this is an article over this company. IF YOU don not fill in the info correctly, than you get a lot of issues YES because they must have the details and all they ask before making a withdrawal I had that too. Read the article I copied here I even called the magazine to verify the authenticity of the article.

You're also a troll. No point of throwing your fake articles as their claim is unverifiable.

We simply state the fact that there were a number of investors who put their money in Algotech management and now are unable to withdraw money from their account. I have been receiving only vague excuses for the last 2 months from them and my confidence this can be resolved using the normal channels is extremely low.

 

[cyberwiz]

Do you have any proof of your statement? I have all the proofs thats its 2 weeks now and they not transferring the funds. Why others in this thread are not speaking up now?
Where is @FxMaster

I am waiting 2 months already since I attempted my 1st withdrawal. The only response I received from BeAlgo was that the money are blocked in the Københavns Andelskasse. They mentioned about "option B" which would be to return the money withdrawn back to the trading account and transfer the money via another bank. However this seems to be a bull**** attempt since they are unable to get the money from Københavns Andelskasse in the first place.

BTW how are you sure BeAlgo is in Bulgaria?

 

[cyberwiz]

Do you have any proof of your statement? I have all the proofs thats its 2 weeks now and they not transferring the funds. Why others in this thread are not speaking up now?
Where is @FxMaster

I have replied to you and I am in the same situation for the last 2 months.

 

[oscarra]

Københavns Andelskasse was taken under control by Finansiel Stabilitet On 13 September 2018 for the purpose of resolution. Finansiel Stabilitet is a Government-owned company working to secure the stability of the Danish financial markets by restructuring and/or liquidating financial institutions that are likely to fail. The resolution action was taken by Finansiel Stabilitet following the Danish Financial Supervisory Authority’s decision that Københavns Andelskasse was likely to fail, cf. section 224 a(1)(1) of the Financial Business Act.

Better check with FSA, what is happening
https://www.finanstilsynet.dk/en

show us some account numbers, who knows how many other brokers may link to Andelskasse

 

[cyberwiz]

Københavns Andelskasse was taken under control by Finansiel Stabilitet On 13 September 2018 for the purpose of resolution. Finansiel Stabilitet is a Government-owned company working to secure the stability of the Danish financial markets by restructuring and/or liquidating financial institutions that are likely to fail. The resolution action was taken by Finansiel Stabilitet following the Danish Financial Supervisory Authority’s decision that Københavns Andelskasse was likely to fail, cf. section 224 a(1)(1) of the Financial Business Act.

Better check with FSA, what is happening
https://www.finanstilsynet.dk/en

show us some account numbers, who knows how many other brokers may link to Andelskasse

I have a record of a bank transfer to a Danish bank when I transferred funds to BeAlgo. Are you suggesting FSA can help in tracking the Danish bank number?

 

[oscarra]

I have a record of a bank transfer to a Danish bank when I transferred funds to BeAlgo. Are you suggesting FSA can help in tracking the Danish bank number?

sounds as bank failures show as well AML breaches, you need to dig further see what’s going on…. with the mentioned brokers, of course no surprise

https://www.law360.com/articles/1076071/danish-watchdog-eyes-copenhagen-bank-over-aml-breaches
- The bank also failed to carry out the required due diligence checks on ... The Cooperative Bank, also known as Kobenhavns Andelskasse, ...
https://www.bt.dk/erhverv/staten-overtager-kontrollen-med-koebenhavns-andelskasse

…will see if others are willing to post some Andelskasse accounts, unless members are suffering Stockholm disease