Being scammed by Yamato Global

The Punisher

2nd Lieutenant
Messages
1,021
Yes, sir. That’s right.
The request to pay taxes is part of the scam and only the government of Japan can collect taxes owned on investments, not an online broker. Other victims have lost even more money by paying the tax, then they are asked to pay a withdraw fee, then an admin fee, etc. until they are broke and the money never comes back.

Start by documenting everything for your records. All chat history and conversations, all emails, all trades made, all deposits, etc.

How did you send funds to these scammers? Did you send via bank wire or through online exchange only?
 

The Punisher

2nd Lieutenant
Messages
1,021
Yes, sir. That’s right.
Below are more details about your scammers. A flag of suspected deck means they were either already labeled as a scam or the certificate of registration is fake (I cannot tell which one yet). Eastern Wind Group Limited is who they show registration under with the New Zealand Securities Commission. I recommend to also file a complaint with the New Zealand Financial Services Enterprise Regulatory Agency. Lichade has a real license with MetaQuotes (Meta Trader) and they sold a white label license to GSG International and Yamato.


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JMCollado

Private
Messages
24
The request to pay taxes is part of the scam and only the government of Japan can collect taxes owned on investments, not an online broker. Other victims have lost even more money by paying the tax, then they are asked to pay a withdraw fee, then an admin fee, etc. until they are broke and the money never comes back.

Start by documenting everything for your records. All chat history and conversations, all emails, all trades made, all deposits, etc.

How did you send funds to these scammers? Did you send via bank wire or through online exchange only?
I have compiled all my communication with the company’s online Customer Service only named MetaTrader 5 and MetaTrader-5. My remittances were through bank remittances to local banks accounts provided by the Customer Sevice so I also have complete documentation of the account owners.

I actually questioned them about tax payment rules because I know the payment tax schedules in Japan and I consulted an accountant friend and she mentioned that what the co
Pany is doing is against the law, that’s why I’ve been refusing to pay the remaining amount of JPY1.2 million they’ve been asking me to pay.

Then they changed tact by saying my account is suspended for being suspected of involvement in money laundering because of the different depositors, the same depositors that Customer Service instructed me where to remit my capital and tax payment. They said I have to settle the JPY1.2 million to have my account removed from suspicion. I’ve been trying to reason out and be logical, but everytime I make a follow-up, Customer Service would just repeat their asking me to pay the JPY1.2 million.
 

The Punisher

2nd Lieutenant
Messages
1,021
I have compiled all my communication with the company’s online Customer Service only named MetaTrader 5 and MetaTrader-5. My remittances were through bank remittances to local banks accounts provided by the Customer Sevice so I also have complete documentation of the account owners.

I actually questioned them about tax payment rules because I know the payment tax schedules in Japan and I consulted an accountant friend and she mentioned that what the co
Pany is doing is against the law, that’s why I’ve been refusing to pay the remaining amount of JPY1.2 million they’ve been asking me to pay.

Then they changed tact by saying my account is suspended for being suspected of involvement in money laundering because of the different depositors, the same depositors that Customer Service instructed me where to remit my capital and tax payment. They said I have to settle the JPY1.2 million to have my account removed from suspicion. I’ve been trying to reason out and be logical, but everytime I make a follow-up, Customer Service would just repeat their asking me to pay the JPY1.2 million.
Yes, this is a common tactic used by scammers. They will not give your money back to you whether you pay the tax or not.
 

JMCollado

Private
Messages
24
The four brokers in the white boxes are also scam brokers being ran by this group!

View attachment 69519
I recognize Fortune-Ever. I must admit I also lost my first investment in forex in that company. A staff was managing my account, and after telling the staff of my plan to withdraw some amount, the next trading the money in my account was wiped out, and she was asking me to remit $5000 to unlock my profit, which she said was parked somewhere for protection. I also sensed some irregularity so I didn’t send the money she was asking, but I didn’t file any complaint.
 

PK494

Sergeant Major
Messages
505
Sorry to hear your story but it sounds like they did put a lot of time on you to steal all those money. You know them since March and it’s pretty normal that they have gained your trust over time.

I suggest you to just work with your bank and see if they can help you retrieve any money because if is a big amount they will work on it. Also report them and shut this company down so they cannot operate it to scam others. Stay safe buddy!
 

JMCollado

Private
Messages
24
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The OP has invited the company to this discussion on Oct 6, 2021 at 2:13 AM
 

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.
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 (Acct. No. 247176) 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 (MetaTrader 5) 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 (MetaTrader-5) 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 into 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.
 
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