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I have been suggested by this company to invest on binary option and Forex trading by a so called person "Rafeal wescott". I invested $14k AUD so far and when requested for withdrawal they said United states international trade comission is holding the transaction and need to pay $5000 to process withdraw.
After paying $5k , this time they came up with something called as brokerage fee of $2000 and if not paid no funds will be processed.
They gave the fake Comission pdf. I was skeptical on the $2000, so reached SEC for confirmation and they confirmed that there is no comission like "USITC".
Its an advance fee scam, When i go back to avastradefx.com on the scam, they blocked me in the whatsapp and facebook and now not sure how to recover my money.
there website is still operating and i could see people posting on facebook for more scammers.
Response from SEC below:
Dear Mr. Gangula:
Thank you for contacting the U.S. Securities and Exchange Commission (SEC).
You seek information about your investment with AvasTradeFx.
Please be advised that this is a scam. There is no U.S. government agency called the United States International Trade Commission. The SEC is aware of a number of fraudulent solicitations currently underway that purport to be affiliated with or sponsored by the U.S. government and legitimate securities regulators. Information about how to recognize imposters and imposter fraud tactics are available on our website at: https://www.sec.gov/oiea/investor-alerts-bulletins/ia_demandmoney.html and www.sec.gov/answers/impersonators.htm.
Please be advised that AvasTradeFx is not registered with the SEC, nor does it appear to be based out of the US. We suspect this entity is engaged in what is known as an advance fee fraud scheme. For links to databases of U.S. registered brokerage firms, brokers, and investment advisers, please consult our online publication “Protect Your Money: Check out Brokers and Investment Advisers,” available at http://www.sec.gov/investor/brokers.htm. To find out whether a financial services firm is registered in your home country, please consult the list of international financial regulators and their contact information at http://www.financialregulatorsgateway.com.
The information you provided appears to be part of an advance fee fraud scheme. One of the most common types of fraud we see in our office is “advance fee fraud,” which generally involves scammers approaching foreign investors to offer their services in some type of stock or bond transaction. In many cases, the investor is approached – unsolicited – with the offer to purchase the investor’s seemingly worthless shares. After the investor expresses interest, the scammer will demand payment for some fee before completing the transaction.
For more information on advance fee frauds and other types of scams, visit our webpage on Advance Fee Schemes (available at www.sec.gov/answers/advancefeefraud.htm). You may find additional material on this topic at http://investor.gov/investing-basics/avoiding-fraud/types-fraud/advance-fee-fraud, http://investor.gov/news-alerts/inv...re-investment-offers-implying-sec-endorsement, and the links highlighted on those pages.
Also, if you have not done so already, you may want to contact the securities regulators in your home country for any further assistance they may be able to provide. Contact information for the Australian Securities and Investments Commission is as follows:
Australian Securities and Investments Commission
Level 5,
100 Market Street,
Sydney NSW 2000
- or -
GPO Box 9827
Sydney NSW 2001
AUSTRALIA
Tel: (61 2) 9911 2000Email: gerard.fitzpatrick@asic.gov.auInternet: http://www.asic.gov.au/
Sincerely,
Kathleen Kim
Special Counsel
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(202) 551-5753
http://www.sec.gov
www.investor.gov
www.twitter.com/SEC_Investor_Ed
After paying $5k , this time they came up with something called as brokerage fee of $2000 and if not paid no funds will be processed.
They gave the fake Comission pdf. I was skeptical on the $2000, so reached SEC for confirmation and they confirmed that there is no comission like "USITC".
Its an advance fee scam, When i go back to avastradefx.com on the scam, they blocked me in the whatsapp and facebook and now not sure how to recover my money.
there website is still operating and i could see people posting on facebook for more scammers.
Response from SEC below:
Dear Mr. Gangula:
Thank you for contacting the U.S. Securities and Exchange Commission (SEC).
You seek information about your investment with AvasTradeFx.
Please be advised that this is a scam. There is no U.S. government agency called the United States International Trade Commission. The SEC is aware of a number of fraudulent solicitations currently underway that purport to be affiliated with or sponsored by the U.S. government and legitimate securities regulators. Information about how to recognize imposters and imposter fraud tactics are available on our website at: https://www.sec.gov/oiea/investor-alerts-bulletins/ia_demandmoney.html and www.sec.gov/answers/impersonators.htm.
Please be advised that AvasTradeFx is not registered with the SEC, nor does it appear to be based out of the US. We suspect this entity is engaged in what is known as an advance fee fraud scheme. For links to databases of U.S. registered brokerage firms, brokers, and investment advisers, please consult our online publication “Protect Your Money: Check out Brokers and Investment Advisers,” available at http://www.sec.gov/investor/brokers.htm. To find out whether a financial services firm is registered in your home country, please consult the list of international financial regulators and their contact information at http://www.financialregulatorsgateway.com.
The information you provided appears to be part of an advance fee fraud scheme. One of the most common types of fraud we see in our office is “advance fee fraud,” which generally involves scammers approaching foreign investors to offer their services in some type of stock or bond transaction. In many cases, the investor is approached – unsolicited – with the offer to purchase the investor’s seemingly worthless shares. After the investor expresses interest, the scammer will demand payment for some fee before completing the transaction.
For more information on advance fee frauds and other types of scams, visit our webpage on Advance Fee Schemes (available at www.sec.gov/answers/advancefeefraud.htm). You may find additional material on this topic at http://investor.gov/investing-basics/avoiding-fraud/types-fraud/advance-fee-fraud, http://investor.gov/news-alerts/inv...re-investment-offers-implying-sec-endorsement, and the links highlighted on those pages.
Also, if you have not done so already, you may want to contact the securities regulators in your home country for any further assistance they may be able to provide. Contact information for the Australian Securities and Investments Commission is as follows:
Australian Securities and Investments Commission
Level 5,
100 Market Street,
Sydney NSW 2000
- or -
GPO Box 9827
Sydney NSW 2001
AUSTRALIA
Tel: (61 2) 9911 2000Email: gerard.fitzpatrick@asic.gov.auInternet: http://www.asic.gov.au/
Sincerely,
Kathleen Kim
Special Counsel
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
(202) 551-5753
http://www.sec.gov
www.investor.gov
www.twitter.com/SEC_Investor_Ed