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FOREXGEN.COM SCAM Alert! Broker stole over $160K from our trader!

Discussion in 'Scam Alerts' started by Felix Homogratus, Oct 23, 2007.

  1. Felix Homogratus

    Felix Homogratus Commander in Chief

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    This is Felix. I wanted to share a very disturbing story with you... Though I can't guarantee that this is the truth, but from my investigation and my understanding it seems a very legitimate story.

    One of the subscribers of kingforexsignals.com by the name of Rashid has been trading with Rob Grespi for the last few months, using the broker http://www.forexgen.com/

    Rashid grew one of his accounts, #5011164, from $20,000 to over $110,000 over the last few months by taking a few position trades. Few days ago, he decided to cash in his profits from all his accounts with this broker, and made a withdrawal request for the full amount of over $160,000.

    Forexgen started ignoring him, and put his account "under investigation". Then something miraculous happened... On October 19th, 2007 at 07:10 am EST, ForexGen.com opened a very large EUR/USD short position at 1.4056 on Rashid's account. They manually raised the spread to 247 pips, and closed the position the same minute, thus fully wiping out Rashid's account 5011164, and even putting him in the negative... Order number of the trade was #33114.

    ForexGen.com was giving out their address in Manassas, Virginia for US clients. After further investigation, the address ended up being a residential address currently in foreclosure.

    If you look at their website, they are promising 1 pips spread on all pairs, which is obviously extremely unrealistic and ridiculous.

    I have always been warning my subscribers not to deal with small new brokerages, because I've simply seen too many of them literally raping and scamming our traders.

    Please spread the word about this situation by posting this email on your favorite forum. Rob Grespi is extremely pissed off about this situation, and is helping Rashid to prepare all documents and file a complaint to the Internet Crime Prevention department of the FBI. Let's see what happens :)

    Thanks :)
    -Felix
     
  2. robgrespi

    robgrespi Recruit

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    I will get this f***** ;)

    WARNING: FOR THOSE WITH WEAK HEART DO NOT READ THIS LETTER


    Here is what I sent to my Kingforex subscribers:

    Dear KFS subscribers,

    I am writing you today regarding a very serious situation that has happened to one of my KFS subscribers, and I am sure it will happen to others that have an account at www.Forexgen.com

    In a nutshell:

    One of my subscribers decided to withdraw his money from Forexgen.com (his full and total right) for a total of $160,500, after several attempts he never received his money. Of course, he brought this situation to my attention when he knew that I helped another of my subscibers (several months ago) getting her money back from another forex broker scam artist (www.profinum.com) which by the way, after our intervention, Profinum went out of business and the owner is now selling his Canary house, that I am sure was obtained by scamming honest traders out of their money. But mission was accomplished and my subscriber got her hard earned money within 48H of our intervention (Felix, KFS people and me).

    Old Profinum webpage:
    http://web.archive.org/web/20070104163814/http://www.profinum.com/

    My phone call to Profinum:
    http://www.kingforexsignals.com/Robvideos/011107_SpecialEd_Rob/011107_SpecialEd_Rob.html

    Their website after they went out business:
    http://web.archive.org/web/20070520032435/http://www.profinum.com/

    And their current website :)
    http://www.profinum.com

    Now we have a similar situation on a bigger scale; www.forexgen.com is refusing to return my subscriber his $160,500 or so. After he made me aware of it, I went on the war path and started to call every numbers that Forexgen.com had listed, not one of them answered. 2 of them had standard electronic greeting not mentioning I reached "forexgen" at all, the other numbers were bogus numbers or numbers of regular people accross the globe (I sadly even woke up some of them) that had no relationship with Forexgen.com at all. The N.Y. number that Forexgen has listed kept hanging up on me. Obviously, they were hiding as they knew what I was after.

    Here how they cleverly stole his money:

    They place an "inhouse bogus cross sell trade" on the EUR/USD at 1.4056 (trade # 33114 on 10/19/2007 at 7:10 am EST), for a very large lot amount, enough to suck in all his equity, then they closed the trade same minute at 1.4303.

    The problem is:

    1) The EUR/USD at 7:10 EST on 10/19/2007 was never at 1.4056 (actually it was never anywhere close the entire day, no matter what time zone you want to pick... actually last time the EUR/USD was at 1.4050 levels was 2 weeks ago), and the lowest the Eur/usd was during the time frame (10/19/2007 at 7:10AM) was 1.4280s or so.

    2) They closed that huge "in house bogus cross trade" for a MASSIVE loss of 247 pips, in less than 1 minute..... The highest the eur/usd was during that time frame was 1.4290s and the highest the eur/usd was during the entire day was 1.4315s or so, and the lowest it was the entire day was 1.4240s or so, a maximum of 60/70 pips range, no matter what time ZONE you want to pick THAT DAY! Hell, I can't remember the last time the Euro moved over 247 pips in less than 1 minute (at 7:10 there was no news announcement neither)... OR EVEN IN A DAY FOR THAT MATTER..... LUCKY AND EVEN UNUSUAL IF YOU GET THIS TYPE OF MOVE IN 2 WEEKS TIME...... LOL

    THAT SCAM IS SO OBVIOUS THAT EVEN A RETARDED MONKEY COULD FIGURE IT OUT....

    THIS IS CLEARLY A WIRE FRAUD, INTERNET FRAUD, EMBEZZLEMENT AND MONEY LAUNDERING IS NOT FOR OFF EITHER....

    With this level of fraudulent activities and the size of the money involved, all International Authorities can be involved wherever they try to hide, also the clearing banks they use will also be contacted, I am sure that those clearing banks are NOT involed in this "dirty scam", and therefore will cooperate with authorities in an effort to freeze all asset of Forexgen, and also give all where abouts of any Forexgen's funds.

    OH! Also the U.S address that Forexgen has listed on there website in Manassas, Virginia, is a private home, that I may add, is in foreclosure.
    (Too late to change it, Mr Forexgen, we made screenshot of it...), Actually we made screen shots of everything for that matter.

    Of course I left several messages to the one that had a voice mails, warning them that they had 72 hours to send the money to my subscriber. (I don't need to tell you how the messages were worded, but I am sure after the Profinum story, you can imagine the style that I used), (Profinum phone call: http://www.kingforexsignals.com/Robvideos/011107_SpecialEd_Rob/011107_SpecialEd_Rob.html)

    So after going nowhere with the telephone calls, I went on their "live chat", and here is what happened:

    Nancy: Welcome to our live chat service.

    Nancy: How may I help you today?

    rob grespi: YOU HAVE 72 HOURS TO GIVE RASHID GASHOR ACCOUNT # 5011164 , IS FUKING MONEY, OR WE WILL SHUT DOWN YOUR FUKING FIRM, THIEVES.... CAPESH

    rob grespi: THIS IS THE LAST WARNING MOTHERFUKERS


    Needless to say, s/he closed the chat and went to hide under his/her kitchen counter, (because I am sure it is a "garage/basement/kitchen counter" based organization at best). They are hiding, but it does not matter: I will go to all the way to the hell if necessary to find that money for him, even if I have to drag these "scums" out of their basements.

    Later.... they cleverly threatened to sue me, that the funny part, I welcome and encourage them to: anytime, anyplace, anywhere, because I will not only counter sue for "abuse of process", but ask for astronomical damages, and will refer the case to my favorite friends, "the FBI", for wire fraud, internet fraud, embezzlement, money laundering, I even MIGHT add that the funds they are stealing "MIGHT" be used for terrorist funding which will of course bring Interpol to the "party" as well as all international anti-terrorist activities agencies).

    To add to their "sterling legitimacy", I received a call in the middle of the night, "cleverly wording" that physical harmed against me could be involved........... LOL...

    All I have to say is: BRING IT ON................. AND THEY WILL FOUND OUT WHO THEY ARE DEALING WITH....

    ------------------------------------
    NOW: MR FOREXGEN, PAY ATTENTION, READ CAREFULLY, AND WISELY CHOOSE YOUR NEXT MOVE:

    If my subscriber does not get *ALL* his money within 72 banking hours, "PREPARE TO ENTER INTO A WORLD OF ****"

    (I welcome you to test me or call my bluff. "Make my day... punk" as someone famous said in a movie.)
    -------------------------------------

    Also, I suggest all other forex traders that have any funds with this "crooks/ thieves" to withdraw their money ASAP, because chances are they will try to shut down their website and try to hide. But as I said, they can run, they can hide but I will found out where there live, like I did with Mika from Profinum, I found out where he [Mika] lived).

    Also I have Forexgen clearing bank infos (all infos that is...) , I will forward this letter to all their clearing banks as well, if my subscriber does not get his funds within 72 hours... I am counting...

    But here is the lesson: do your due diligences before sending any funds to anyone.

    As always,
    Best Regards,
    Rob Grespi
     
    #2 robgrespi, Oct 23, 2007
    Last edited: Oct 23, 2007
  3. uzomaeze

    uzomaeze Recruit

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    Scam Alert

    its a pity that forexgen did this to that dude and i was making enquiry about them i never knew they can do such :mad:

    I hope felix you can do this thing and lets get on with life

    one question hope marketiva is genuine please can you reply
     
  4. johnfx

    johnfx Recruit

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    Power of the Internet

    I am putting my money on the power of the Internet! :cool:

    So I hope and am pretty sure that Rashid will have his money back. Preferably sooner than later.

    Nice work, Rob!

    JohnFX
     
  5. Pip MY Ride

    Pip MY Ride Recruit

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    thank god we have somebody like you on our side Rob!
     
  6. JeffNLisa

    JeffNLisa Private

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    Thank you Felix and Rob.

    Jeff
     
  7. Joey90210

    Joey90210 Recruit

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    Well done Felix, hang the ****ers.
     
  8. DJDJ

    DJDJ Recruit

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    Thanks Rob and Felix for really sticking up for us!!!
     
  9. deezee

    deezee Recruit

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    deezee (UK)

    Well done Rob and Felix!

    All cheats should be castrated: with a blunt spoon:D
     
  10. Pharaoh

    Pharaoh Colonel

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    I'm glad that everyone's getting warned about this and hope that Rashid's money gets returned ASAP.

    One small suggestion. Perhaps a less aggressive initial approach to "Nancy" and her coworkers. I've worked in the slavepits of tech support before (not Forex). Some accounts I worked on permitted (or even required) the tech to disconnect once the client uses any profanity without regard to the legitimacy of the issue. Threats of lawsuits would either be a referral to the legal department's email or a disconnect. Under those circumstances, she might not even document that the contact ever took place. Not to mention, it would have been interesting to hear her attempt to explain such a huge loss happening in one minute. Of course, once she starts coming up with bogus excuses, then it's time to break out the threats and profanity.

    In any event, good luck extracting Rashid's money from these thieves.
     

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