Ponzi Scheme investing4you.co.uk scam forex investment

[Real dude]

Scammed as in Investing4You was being presented as a FCA regulated /authorised company - when they are not.

As the FCA said which I have previously shared they cannot help retrieve any funds from a non FCA regulated/authorised company which in turn means it is not protected by FSCS insurance.

Terribly sorry but I made an assumption on my part if there is no insurance and its not FCA regulated then "if" what people are saying is true then its likely people will lose money. But your quite right that's an assumption on my part so let me retract that statement.

What other ships have I jumped Jamestheman12?

If invested what happens to the funds already accumulated in accounts, assuming said funds are actually there, when FCA suspend them?

 

[hoodledudle]

If invested what happens to the funds already accumulated in accounts, assuming said funds are actually there, when FCA suspend them?

This isn't covered by the FCA, they aren't regulating him because he has no license. I assume the authorities would recoup the money and try to distribute it between "investors"

 

[uptheiron]

If invested what happens to the funds already accumulated in accounts, assuming said funds are actually there, when FCA suspend them?

Unfortunately, you are under the misconception that the funds were invested, they were not and never were. Dummy trades were created to make it look legitimate. New investors monies were used to fund withdrawals from the earlier investors, to add to the legitimacy. I repeat, no money was EVER invested. This was a pyramid scam, with an elaborate cover story of Forex trading using CFDs, limiting risk with stop losses and controlling access to the markets with trading timeframes of less than 60 minutes.

The icing on the cake with this scam, was the conviction the recruiters gave to substantiate and legitimise this scam to their closest family and friends. Takes a real 'C yoU Next Tuesday' to screw over their family and friends.

 

[uptheiron]

This isn't covered by the FCA, they aren't regulating him because he has no license. I assume the authorities would recoup the money and try to distribute it between "investors"

Sure will and under the Proceeds of Crime Act, ALL (and I mean all) distributions will be recoverable.

The big question is, how much money will Declan's scam broker allow Declan to withdraw? The answer is ZERO. The broker will disappear. The only recoverable money will be from what Declan has in his personal bank account (not much!) and from those early investors who "withdrew their original investment" or more. I repeat, this was not an investment at any point, so ALL distributions will be recovered.

What little is recovered, will disappear in liquidator fees so those who were conned will be lucky to see pence in the pound. Most likely scenario...

zero return.

 

[MikeFair]

Someone please correct me if I'm wrong but this would all fall under the below?

PERG 8.23 Regulated activities - https://www.handbook.fca.org.uk/handbook/PERG/8/23.html

Investing4You / Declan Nowell are not/is not an authorised person or an exempt person or company.

PERG 8.23.1 G 01/07/2005 RP
Under section 19 of the Act (The general prohibition) no person may, by way of business, carry on a regulated activity in the United Kingdom unless he is authorised or exempt. The meaning of regulated activity is set out in Part II of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (the Regulated Activities Order) (as amended). Any person who breaches section 19 of the Act commits a criminal offence for which the maximum penalty is two years’ imprisonment and an unlimited fine.

 

[Joshthedog]

Unfortunately, you are under the misconception that the funds were invested, they were not and never were. Dummy trades were created to make it look legitimate. New investors monies were used to fund withdrawals from the earlier investors, to add to the legitimacy. I repeat, no money was EVER invested. This was a pyramid scam, with an elaborate cover story of Forex trading using CFDs, limiting risk with stop losses and controlling access to the markets with trading timeframes of less than 60 minutes.

The icing on the cake with this scam, was the conviction the recruiters gave to substantiate and legitimise this scam to their closest family and friends. Takes a real 'C yoU Next Tuesday' to screw over their family and friends.

I am all aboard this conclusion, 100%, but...

If you're intelligent enough to con (probably thousands of) people right on your doorstep, how on earth do you see it ending with anything other than jail time? Does he think he gets to live on Silica Lodge and drive a MacLaren whilst everyone else just whistles?

I wouldn't be surprised if he's part of something much bigger, accumulated a lot of investors, pooled the money under his own name and now been deemed expendable by whoever was running the bigger fraud.

 

[uptheiron]

I am all aboard this conclusion, 100%, but...

If you're intelligent enough to con (probably thousands of) people right on your doorstep, how on earth do you see it ending with anything other than jail time? Does he think he gets to live on Silica Lodge and drive a MacLaren whilst everyone else just whistles?

I wouldn't be surprised if he's part of something much bigger, accumulated a lot of investors, pooled the money under his own name and now been deemed expendable by whoever was running the bigger fraud.

Guy from Boston, Lincolnshire, who ran something similar got 14 years in prison last year.

Declan is possibly the most gullible idiot ever, he would need to be to believe what was happening was actually happening and that he was capable of doing it. Unbelievable delusions of grandeur.

 

[MikeFair]

Guy from Boston, Lincolnshire, who ran something similar got 14 years in prison last year.

Declan is possibly the most gullible idiot ever, he would need to be to believe what was happening was actually happening and that he was capable of doing it. Unbelievable delusions of grandeur.

Delusions of grandeur indeed.

Investing4You website says - "Investing 4 you is a limited company who specialise in Forex trading, the company was established in late 2020 by Ceo Declan Nowell, after trading for over 5 years"

I guess this was a hobby he did in his spare time while he was busy with his actual job delivering groceries for Tesco.

I really can't fault the guy for his work ethic though, learning to make 3-5% a day and how to trade on the markets. I assume he read a lot of books, watched some great YouTube videos and went on some amazing training courses.

uk.linkedin.com/in/declan-nowell-786743b2
uk.linkedin.com/in/declan-nowell-a82291b4

 

[uptheiron]

I am all aboard this conclusion, 100%, but...

If you're intelligent enough to con (probably thousands of) people right on your doorstep, how on earth do you see it ending with anything other than jail time? Does he think he gets to live on Silica Lodge and drive a MacLaren whilst everyone else just whistles?

I wouldn't be surprised if he's part of something much bigger, accumulated a lot of investors, pooled the money under his own name and now been deemed expendable by whoever was running the bigger fraud.

wouldn't surprise me if Declan fell for a kill pig plate scam, and that's how it all began

His missus won't be happy when she googles kill pig plate scam

 

[hoodledudle]

As of now it's under investigation so let's try to withhold our judgements and opinions until the investigation comes to public eye.