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Forex-27-7.com - managed account-where is my money?

Discussion in 'Scam Alerts' started by Toast Trader, Aug 5, 2010.

  1. Toast Trader

    Toast Trader Recruit

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    Has anybody heard from Forex-24-7.com or from Rick Kraai (the person that runs the website)? I have not received a response to any of of my requests for my monthly statement for the managed account that they run. Over the last 13 month I have been with them, I have put $5,000 into the account, a little at a time, and I had previously received a statement every month, except for May, and June (the statments were usually seny 2-3 weeks after the month end).

    The website says that they are in Portland Oregon. I wll be contacting the Portland District Attorney's office tomorrow.
     
  2. Desertdan

    Desertdan Recruit

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    I also have not received my June statement and after 5 emails I have not received a reply from Rick. I have been in his managed account for over 18 months something is wrong...Tost Trader..here is my email so we can compare notes: desertdan2@gmail.com
     
  3. SMFX

    SMFX Private

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    Just out of interest, did any of you guys make money from his managed accounts?

    I actually used his signal service for a few months, and realized that the posted results didn't include some very large negative floating positions. He only posted closed trades in his past performance. I got burnt, and had to cut my losses.
     
  4. Hamilton High

    Hamilton High Recruit

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    Where's Rick Kraai?

    I'm looking for him too. No replies to emails after he said he had to go East for a family matter. I found another forex forum which had an entry about his web site which listed Cheryl Kraai -11313 SE Stevens Rd, Portland, Oregon, 97086 as part of the organization. Let's share any info we can find. My email is hmhigh@gmail.com.

    Thanks - Woody High
     
  5. Toast Trader

    Toast Trader Recruit

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    Toast Trader- new info

    To Forex-24-7 Members:

    I have second hand information from a source who is a member of Ricks trade calls room that Rick was still back east, due to a family situation. XXXXX does not have money in his bulk account, but he said Rick hired someone to do the correspondence ie, sent out statements, but the person never did anything. XXXXX also said Rick was back in Oregon for a day or two and was in the trade calls room, and that is when he told XXXXX that he hired someone and that he (Rick) has over 3400 un-opened emails. XXXXX has no idea when Rick will return. When XXXXX was asked if he knew where back east Ricks was and he said he thought it was Connecticut.
     
  6. Pharaoh

    Pharaoh Colonel

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    One would think that no matter how huge the family emergency, that this guy could have taken 5 minutes to email clients saying he'd be unavailable for awhile. It's also not the hardest thing in the world to put a vacation autoresponse on an email account.
     
  7. bob56

    bob56 Recruit

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    How long should I wait on Rick Kraai?

    Rick talked a good game when I first contacted him the end of last year. But now he is becoming very hard to contact. I have heard his hardship cases, and I feel for him. But he does need to take care of his business. I am doing his profit sharing program. Unforunately, there is nothing showing for this past month. August is more then half way through. I have a good amount of money tied up in the profit sharing program. I feel like I am getting scammed here. I have tried contacting Rick several times these past 2 weeks, without nothing in return. How long should I wait on Rick?
     
  8. SMFX

    SMFX Private

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    Pharaoh, I totally agree.

    If people have given the guy their hard-earned money, a simple email update is the least he could do regardless of the circumstances. No doubt his lack of response is causing other people a lot of stress.

    As a side-note, does anyone know whether these small US-based "Fund Managers" are regulated in anyway? I would have thought they'd have to obtain some sort of financial services license with the SEC, and satisfy audit and other reporting requirements on a regular basis. Investing other peoples money is a serious business, and transparency is crucial IMO.
     
  9. Toast Trader

    Toast Trader Recruit

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    Bob Leave contact info-we are in contact with law enforcement now

    Bob-
    Leave an e-mail address in which I can contact you. I will bring you up to date with what we (we meaning the people looking for Rick and or Cheryl Kraai) have done so far.
     
  10. NickB

    NickB Forex4Noobs Rep.

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    I do not want to talk anybody into doing anything rash. However, the more time you give Rick to deal with his supposed family matter the less likely you will ever see your money again.

    I realize this is a personal question but how much money did you guys invest with Rick? If it was a large amount I suggest you contact the authorities immediately. I am from Australia/UK so I am not sure who you would contact in America. I would likely start with the NFA or a similar regulatory body.

    Also I have just checked out his website and you can still subscribe to his services. If he is to be away to deal with family issues for an indeterminate amount of time you would think he would put a note up on his site. You would also think he would stop accepting new subscriptions.
     
    #10 NickB, Aug 29, 2010
    Last edited: Aug 29, 2010

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