Being scammed by Yamato Global

JMCollado

Private
Messages
24
Hi, I’m Jun, a foreigner working in Japan. I have reasons to believe that Yamato-Global Limited (yamato-global.com), my forex broker, has employed questionable or illegal acts, inasmuch as my forex trading account with them is concerned.

As a backgrounder, in March this year, a lady befriended me in an SNS popular to Chinese and eventually succeeded in convincing me to invest in forex trading. She was employing romantic innuendos while convincing me to invest, but I just maintained a cool disposition because it was unnatural. She started mentioning about her forex trading and showed her daily profits, and then convinced me to invest. I didn’t know anything about forex, so I showed disinterest in it, but when she voluntarily lent ¥100,000 (US$988) directly deposited to an account of the trader in order to start my trading, I gave in and deposited a counterpart investment of $100,000. She gave me some crash course on how to go about the trading. The original broker name on Meta Trader 4 was GSG-Forex.

The trading went well and the money in the account grew steadily mostly from trading profits. She was giving me trading signals, all the while convincing me to invest more to take advantage of the good market. I deposited about an additional capital of US$2409.
At the end of July, I was advised by Customer Service named MetaTrader5 via LINE chat to download MetaTrader 5 and open a new account with Yamato-Global Limited. Customer Service transferred the amount in my old account to the new account. Trading continued with the help of the lady acquaintance and the money in the account grew to US$83,000.

On September 16th, 2021, I received a message from Yamato-Global Customer Service informing me to settle my income tax from trading profits amounting to JPY1.2 million (which grew to JPY1.8 after a week more of trading), and gave me until September 25th to send them the tax payment deposits or else they would temporarily freeze my account. The Customer Service said that September is the start of tax declaration period.

After discussing the matter with the female acquaintance, who I have long suspected to be working for the broker, volunteered to lend me JPY1.2 million and supposedly sent it directly to Yamato-Global. I checked if that was okay and she said confidently that it didn’t matter because it was for tax payment, not as capital. She only provided me with screenshop of a deposit slip that didn’t bear her name or bank name. When I passed this the Customer Service, it was accepted and demanded that I settle the balance of JPY620,000 so my account would be reactivated. With some nagging doubts, I checked the veracity of the information using my other LINE account in another phone, and seemed consistent, so I went on to deposit JPY620,000 to the bank account provided by customer service. Thus, I could settle my outstanding tax of JPY1.8 million for the total accumulated profit of US$83,000 on September 26th. Thereafter, my trading account was reactivated.

Last Monday, September 27th, I submitted an online withdrawal request amounting to US$40,000, as Customer Service advised it was okay after the tax payments have been settled. The withdrawal application, however, was rejected the next day and when I inquired with YamatoGlobal Customer Service about it, I was informed that the JPY1.2 million yen directly deposited by my acquaintance was not allowed and it violated their rules. I was also advised to immediately settle the amount under my name by the end of September, otherwise, they would permanently freeze my account. I clarified what “permanently freeze” meant and I was told all the money in my account, including my own deposit for tax payment, would be lost.
Sensing the specter of a scam, I immediately compiled the communication thread and web information about the company, at the same time I asked for securities regulations from some contacts. They confirmed that the maneuver was actually illegal. I checked for information on how to deal with the situation and I got some advice from various sources. I was adviced to report the matter to authorities. I was also recommended to sign up with Forex Peace Army, that’s why I am here. Two days ago I sent an email to JFSA reporting this incident, but no reply has been received yet.

Meanwhile, I continued to engage the Customer Service thru chat and told them I have sent a repor to the government authority. I also hinted that I would nust like to recover my money and I would walk away quietly if they return my money, minus the outstanding tax. But they have been employing different tactics since then. The other day I was offered to pay the JPY1.2 million in two installments until end of next month, which I rejected because I know that tax filing in Japan is until March of the following year. Then I was asked to chat in another LINE Chat account and a different customer service seemed to have take over. The new customer service staff offered to help by unfreezing the account but kept asking me to pay the balance of the tax payment. He was even floating that my account may be involved in money laundering scheme by alleging that there were many different people who put money in the account. I refuted that, because the only people who made remittances were myself and the lady acquaintance, and I have full record. I also mentioned that I have proof that their own customer service provided the different bank accounts for remittances of funds.

Anyway, I wish to seek advise on how to continue with my efforts to recover my funds. I would be deeply indebted.
 

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FxMaster

Lt. Colonel
Messages
10,779
Hi, I’m Jun, a foreigner working in Japan. I have reasons to believe that Yamato-Global Limited (yamato-global.com), my forex broker, has employed questionable or illegal acts, inasmuch as my forex trading account with them is concerned.

As a backgrounder, in March this year, a lady befriended me in an SNS popular to Chinese and eventually succeeded in convincing me to invest in forex trading. She was employing romantic innuendos while convincing me to invest, but I just maintained a cool disposition because it was unnatural. She started mentioning about her forex trading and showed her daily profits, and then convinced me to invest. I didn’t know anything about forex, so I showed disinterest in it, but when she voluntarily lent ¥100,000 (US$988) directly deposited to an account of the trader in order to start my trading, I gave in and deposited a counterpart investment of $100,000. She gave me some crash course on how to go about the trading. The original broker name on Meta Trader 4 was GSG-Forex.

The trading went well and the money in the account grew steadily mostly from trading profits. She was giving me trading signals, all the while convincing me to invest more to take advantage of the good market. I deposited about an additional capital of US$2409.
At the end of July, I was advised by Customer Service named MetaTrader5 via LINE chat to download MetaTrader 5 and open a new account with Yamato-Global Limited. Customer Service transferred the amount in my old account to the new account. Trading continued with the help of the lady acquaintance and the money in the account grew to US$83,000.

On September 16th, 2021, I received a message from Yamato-Global Customer Service informing me to settle my income tax from trading profits amounting to JPY1.2 million (which grew to JPY1.8 after a week more of trading), and gave me until September 25th to send them the tax payment deposits or else they would temporarily freeze my account. The Customer Service said that September is the start of tax declaration period.

After discussing the matter with the female acquaintance, who I have long suspected to be working for the broker, volunteered to lend me JPY1.2 million and supposedly sent it directly to Yamato-Global. I checked if that was okay and she said confidently that it didn’t matter because it was for tax payment, not as capital. She only provided me with screenshop of a deposit slip that didn’t bear her name or bank name. When I passed this the Customer Service, it was accepted and demanded that I settle the balance of JPY620,000 so my account would be reactivated. With some nagging doubts, I checked the veracity of the information using my other LINE account in another phone, and seemed consistent, so I went on to deposit JPY620,000 to the bank account provided by customer service. Thus, I could settle my outstanding tax of JPY1.8 million for the total accumulated profit of US$83,000 on September 26th. Thereafter, my trading account was reactivated.

Last Monday, September 27th, I submitted an online withdrawal request amounting to US$40,000, as Customer Service advised it was okay after the tax payments have been settled. The withdrawal application, however, was rejected the next day and when I inquired with YamatoGlobal Customer Service about it, I was informed that the JPY1.2 million yen directly deposited by my acquaintance was not allowed and it violated their rules. I was also advised to immediately settle the amount under my name by the end of September, otherwise, they would permanently freeze my account. I clarified what “permanently freeze” meant and I was told all the money in my account, including my own deposit for tax payment, would be lost.
Sensing the specter of a scam, I immediately compiled the communication thread and web information about the company, at the same time I asked for securities regulations from some contacts. They confirmed that the maneuver was actually illegal. I checked for information on how to deal with the situation and I got some advice from various sources. I was adviced to report the matter to authorities. I was also recommended to sign up with Forex Peace Army, that’s why I am here. Two days ago I sent an email to JFSA reporting this incident, but no reply has been received yet.

Meanwhile, I continued to engage the Customer Service thru chat and told them I have sent a repor to the government authority. I also hinted that I would nust like to recover my money and I would walk away quietly if they return my money, minus the outstanding tax. But they have been employing different tactics since then. The other day I was offered to pay the JPY1.2 million in two installments until end of next month, which I rejected because I know that tax filing in Japan is until March of the following year. Then I was asked to chat in another LINE Chat account and a different customer service seemed to have take over. The new customer service staff offered to help by unfreezing the account but kept asking me to pay the balance of the tax payment. He was even floating that my account may be involved in money laundering scheme by alleging that there were many different people who put money in the account. I refuted that, because the only people who made remittances were myself and the lady acquaintance, and I have full record. I also mentioned that I have proof that their own customer service provided the different bank accounts for remittances of funds.

Anyway, I wish to seek advise on how to continue with my efforts to recover my funds. I would be deeply indebted.
Can we have a website address, please?
 

JMCollado

Private
Messages
24
Can we have a website address, please?
It can also be searched on Google, which gave me a bit of confidence despite the warning signals. And perhaps I have high confidence because of the thought that it’s “Japanese”. Or so it seems.
 

JMCollado

Private
Messages
24
Hi, I’m Jun, a foreigner working in Japan. I have reasons to believe that Yamato-Global Limited (yamato-global.com), my forex broker, has employed questionable or illegal acts, inasmuch as my forex trading account with them is concerned.

As a backgrounder, in March this year, a lady befriended me in an SNS popular to Chinese and eventually succeeded in convincing me to invest in forex trading. She was employing romantic innuendos while convincing me to invest, but I just maintained a cool disposition because it was unnatural. She started mentioning about her forex trading and showed her daily profits, and then convinced me to invest. I didn’t know anything about forex, so I showed disinterest in it, but when she voluntarily lent ¥100,000 (US$988) directly deposited to an account of the trader in order to start my trading, I gave in and deposited a counterpart investment of $100,000. She gave me some crash course on how to go about the trading. The original broker name on Meta Trader 4 was GSG-Forex.

The trading went well and the money in the account grew steadily mostly from trading profits. She was giving me trading signals, all the while convincing me to invest more to take advantage of the good market. I deposited about an additional capital of US$2409.
At the end of July, I was advised by Customer Service named MetaTrader5 via LINE chat to download MetaTrader 5 and open a new account with Yamato-Global Limited. Customer Service transferred the amount in my old account to the new account. Trading continued with the help of the lady acquaintance and the money in the account grew to US$83,000.

On September 16th, 2021, I received a message from Yamato-Global Customer Service informing me to settle my income tax from trading profits amounting to JPY1.2 million (which grew to JPY1.8 after a week more of trading), and gave me until September 25th to send them the tax payment deposits or else they would temporarily freeze my account. The Customer Service said that September is the start of tax declaration period.

After discussing the matter with the female acquaintance, who I have long suspected to be working for the broker, volunteered to lend me JPY1.2 million and supposedly sent it directly to Yamato-Global. I checked if that was okay and she said confidently that it didn’t matter because it was for tax payment, not as capital. She only provided me with screenshop of a deposit slip that didn’t bear her name or bank name. When I passed this the Customer Service, it was accepted and demanded that I settle the balance of JPY620,000 so my account would be reactivated. With some nagging doubts, I checked the veracity of the information using my other LINE account in another phone, and seemed consistent, so I went on to deposit JPY620,000 to the bank account provided by customer service. Thus, I could settle my outstanding tax of JPY1.8 million for the total accumulated profit of US$83,000 on September 26th. Thereafter, my trading account was reactivated.

Last Monday, September 27th, I submitted an online withdrawal request amounting to US$40,000, as Customer Service advised it was okay after the tax payments have been settled. The withdrawal application, however, was rejected the next day and when I inquired with YamatoGlobal Customer Service about it, I was informed that the JPY1.2 million yen directly deposited by my acquaintance was not allowed and it violated their rules. I was also advised to immediately settle the amount under my name by the end of September, otherwise, they would permanently freeze my account. I clarified what “permanently freeze” meant and I was told all the money in my account, including my own deposit for tax payment, would be lost.
Sensing the specter of a scam, I immediately compiled the communication thread and web information about the company, at the same time I asked for securities regulations from some contacts. They confirmed that the maneuver was actually illegal. I checked for information on how to deal with the situation and I got some advice from various sources. I was adviced to report the matter to authorities. I was also recommended to sign up with Forex Peace Army, that’s why I am here. Two days ago I sent an email to JFSA reporting this incident, but no reply has been received yet.

Meanwhile, I continued to engage the Customer Service thru chat and told them I have sent a repor to the government authority. I also hinted that I would nust like to recover my money and I would walk away quietly if they return my money, minus the outstanding tax. But they have been employing different tactics since then. The other day I was offered to pay the JPY1.2 million in two installments until end of next month, which I rejected because I know that tax filing in Japan is until March of the following year. Then I was asked to chat in another LINE Chat account and a different customer service seemed to have take over. The new customer service staff offered to help by unfreezing the account but kept asking me to pay the balance of the tax payment. He was even floating that my account may be involved in money laundering scheme by alleging that there were many different people who put money in the account. I refuted that, because the only people who made remittances were myself and the lady acquaintance, and I have full record. I also mentioned that I have proof that their own customer service provided the different bank accounts for remittances of funds.

Anyway, I wish to seek advise on how to continue with my efforts to recover my funds. I would be deeply indebted.
Sorry, I just noticed, my initial investment was ¥100,000 (USD988), not dollar ($) as indicated in the original post. It’s typo error.
 

FxMaster

Lt. Colonel
Messages
10,779
Hi, I’m Jun, a foreigner working in Japan. I have reasons to believe that Yamato-Global Limited (yamato-global.com), my forex broker, has employed questionable or illegal acts, inasmuch as my forex trading account with them is concerned.

As a backgrounder, in March this year, a lady befriended me in an SNS popular to Chinese and eventually succeeded in convincing me to invest in forex trading. She was employing romantic innuendos while convincing me to invest, but I just maintained a cool disposition because it was unnatural. She started mentioning about her forex trading and showed her daily profits, and then convinced me to invest. I didn’t know anything about forex, so I showed disinterest in it, but when she voluntarily lent ¥100,000 (US$988) directly deposited to an account of the trader in order to start my trading, I gave in and deposited a counterpart investment of $100,000. She gave me some crash course on how to go about the trading. The original broker name on Meta Trader 4 was GSG-Forex.

The trading went well and the money in the account grew steadily mostly from trading profits. She was giving me trading signals, all the while convincing me to invest more to take advantage of the good market. I deposited about an additional capital of US$2409.
At the end of July, I was advised by Customer Service named MetaTrader5 via LINE chat to download MetaTrader 5 and open a new account with Yamato-Global Limited. Customer Service transferred the amount in my old account to the new account. Trading continued with the help of the lady acquaintance and the money in the account grew to US$83,000.

On September 16th, 2021, I received a message from Yamato-Global Customer Service informing me to settle my income tax from trading profits amounting to JPY1.2 million (which grew to JPY1.8 after a week more of trading), and gave me until September 25th to send them the tax payment deposits or else they would temporarily freeze my account. The Customer Service said that September is the start of tax declaration period.

After discussing the matter with the female acquaintance, who I have long suspected to be working for the broker, volunteered to lend me JPY1.2 million and supposedly sent it directly to Yamato-Global. I checked if that was okay and she said confidently that it didn’t matter because it was for tax payment, not as capital. She only provided me with screenshop of a deposit slip that didn’t bear her name or bank name. When I passed this the Customer Service, it was accepted and demanded that I settle the balance of JPY620,000 so my account would be reactivated. With some nagging doubts, I checked the veracity of the information using my other LINE account in another phone, and seemed consistent, so I went on to deposit JPY620,000 to the bank account provided by customer service. Thus, I could settle my outstanding tax of JPY1.8 million for the total accumulated profit of US$83,000 on September 26th. Thereafter, my trading account was reactivated.

Last Monday, September 27th, I submitted an online withdrawal request amounting to US$40,000, as Customer Service advised it was okay after the tax payments have been settled. The withdrawal application, however, was rejected the next day and when I inquired with YamatoGlobal Customer Service about it, I was informed that the JPY1.2 million yen directly deposited by my acquaintance was not allowed and it violated their rules. I was also advised to immediately settle the amount under my name by the end of September, otherwise, they would permanently freeze my account. I clarified what “permanently freeze” meant and I was told all the money in my account, including my own deposit for tax payment, would be lost.
Sensing the specter of a scam, I immediately compiled the communication thread and web information about the company, at the same time I asked for securities regulations from some contacts. They confirmed that the maneuver was actually illegal. I checked for information on how to deal with the situation and I got some advice from various sources. I was adviced to report the matter to authorities. I was also recommended to sign up with Forex Peace Army, that’s why I am here. Two days ago I sent an email to JFSA reporting this incident, but no reply has been received yet.

Meanwhile, I continued to engage the Customer Service thru chat and told them I have sent a repor to the government authority. I also hinted that I would nust like to recover my money and I would walk away quietly if they return my money, minus the outstanding tax. But they have been employing different tactics since then. The other day I was offered to pay the JPY1.2 million in two installments until end of next month, which I rejected because I know that tax filing in Japan is until March of the following year. Then I was asked to chat in another LINE Chat account and a different customer service seemed to have take over. The new customer service staff offered to help by unfreezing the account but kept asking me to pay the balance of the tax payment. He was even floating that my account may be involved in money laundering scheme by alleging that there were many different people who put money in the account. I refuted that, because the only people who made remittances were myself and the lady acquaintance, and I have full record. I also mentioned that I have proof that their own customer service provided the different bank accounts for remittances of funds.

Anyway, I wish to seek advise on how to continue with my efforts to recover my funds. I would be deeply indebted.
Let's start with adding your story as a review here https://www.forexpeacearmy.com/forex-reviews/19290/yamato-global-forex-brokers and then follow the below suggestions.

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note 1: The invitation button will be enabled when your first post reaches 4 days old.
Note: 2 You need to make a second post in this thread to enable the official invitation option.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 4: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

OP Screen shot.jpg
 

JMCollado

Private
Messages
24
Thank you. I shall await for the invite to be activated.

Meanwhile, I just updated the information in the “Edit Company Invitation”.

Just to clarify, the second post that I have to make should be similar to the original one or a new one? And “sharing my account number only” means putting the account number in the new second post instead of my name? The form in “Edit Company Invitation” requires account name and email address, among others. Are these information also shared to the company?

On another note, would you recommend me to report this to the police now or later? The company provided different bank accounts to receive trading capitals and told me these are the reasons that my account is being suspected as used for money laundering.

Thank you for your guidance and advice.
 

FxMaster

Lt. Colonel
Messages
10,779
Thank you. I shall await for the invite to be activated.

Meanwhile, I just updated the information in the “Edit Company Invitation”.

Just to clarify, the second post that I have to make should be similar to the original one or a new one? And “sharing my account number only” means putting the account number in the new second post instead of my name? The form in “Edit Company Invitation” requires account name and email address, among others. Are these information also shared to the company?

On another note, would you recommend me to report this to the police now or later? The company provided different bank accounts to receive trading capitals and told me these are the reasons that my account is being suspected as used for money laundering.

Thank you for your guidance and advice.
Frist, let them come here and reply if they avoid then I`ll suggest you next steps to take :)
 
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