Comfirm scam. who can i report to? please advise
Adrian
First of all, in what country are you ? Did you deal with an agent in your own country or directly with Edgar International through their website ? If you dealt with a local agent in your own country, why not visit your local police station ?
The owner and the director live in the Philippines. Keep in mind that the listed owner is not always the true owner. Sometimes, it s only a nominee...a front man.
They are an offshore financial service provider in New Zealand. They are not registered with the NZ securities and Futures Commission and they never had to if they did not accept NZ customers. The NZ Securities Commission will tell you " Tough luck ".
They are not properly registered with the specific NZ registry for Financial Service Providers. The NZ Companies registrar will tell you " Tough luck. We will wag our finger at them for not registering ". Then there is the police. Frankly, it s quite possible that the police also tells you in substance " Tough luck: we re only 40 persons in the Serious Fraud Office for all of New Zealand and now foreigners will bury us with complaints about dozens of companies that dont even take clients from our own country "
Edgar International s address in New Zealand is a virtual office. The police will arrest nobody from Edgar International there. Another registered address in New Zealand is that of their compliance agent. A compliance agent is just a paid professional agent like a lawyer or an accountant. But if you contacted them only through their website that lists their phony NZ address, why not contact the New Zealand police ? You can send an e-mail to their serious fraud office at sfo.govt.nz. They will ask you documentary evidence. Give them everything you got.
There are certainly other unknown corporate entities involved. For example, there is probably a company incorporated in Malaysia to do the actual operations, but it is certainly not properly registered with the malaysian authorities to trade forex. Are you in Malaysia ? Most Edgar International s clients are from Malaysia. Why not go after the Malaysia company with the help of the malaysian authorities if you live in that country ?
You can lodge an official fraud complaint with the police, but you ll soon find out how those people build a confusing web of companies in multiple countries to make any police investigation a difficult international task.
People who come to the FPA always hope bad publicity will put enough pressure on a company that they will pay to avoid losing all their customers by a snowball effect. It can be efficient only up to a point....the point of no return for the ponzi scheme. They kept you waiting for what ? 6 months now ? Dont you think it s time to start legal action even if the police will not necessarily find your money ? Of course, the first effect of the police intervening is the company close shop and that s why so many people refuse to take such drastic action. The alternative is to wait and see if the company will respond to the FPA for dialogue.
But you must realize that it is CERTAINLY a scam. What is your best chance to get your money is your own decision: it is still a CERTIFIED SCAM in my book. First of all, for the wire transfers from clients, they list multiple bank accounts with a total of FOUR DIFFERENT CORPORATIONS TO RECEIVE YOUR MONEY. Why on Earth would you pay PRINCE TRADING in New Zealand if you re doing business with Edgar International for example ? That is what they ASK YOU TO DO on their website. Or you can pay anyone of THREE other corporations elsewhere in Asia. Actually NONE OF THOSE BANK ACCOUNTS IS LISTED IN THE NAME OF EDGAR INTERNATIONAL. Dont you see it is a typical SCAM SET UP ? You have a claim against Edgar International but the monies ALL WENT TO THIRD PARTIES compounding your problems to get any of it back. You d have to sue a minimum of 4 theoritically unrelated corporations from the get go just to try to get back your funds.
Go to their website; click on " Important Notice " in bold red at the top. WRITE DOWN ALL THE BANK DETAILS FOR THE MULTIPLE BANK ACCOUNTS or save a screenshot. There ! You did a first step to recoup your money. At least, you now have proof of where it all went ( before it was moved elsewhere of course ). Now, retain that all-important info for the police.
Good luck
P.S. They start their notice about the multiple bank accounts and the multiple third parties to receive money with " Dear valued customers " That s it: I feel nauseous now. Bring me a bucket or I ll throw up all over the place....Oups, too late. Call the FPA cleaning lady...sorry
