FourMarkets.com acct manager stole $10,000 - horror story!

jay_hershko

Recruit
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1
I invested $2000 in the Fourmarkets.com Binary Options site. My account manager, let's call him Diego, conned me into investing about 12K, promising to triple it in no time. We were up to 50K, which included their bonuses, and he blew more than half of it in one day, claiming a market crash. I can live with that, even though I was not happy. However, part of the reason I invested that amount was that I would have my capital insured. For this they convinced me to add the last 5K.

After Diego blew my account, I did not hear from him again and over a week later, another agent, Jeff Duncan, called me and told me several times that Diego was fired for acting so recklessly on my account. He would be my new account manager. He told me that i had two options- reinstate the account which would cost me 5K or activate the insurance which would cost me 12K. I chose the former as he thought he could recover the account in a week or so. After some bad trades, I told him I wanted to do the insurance option. My investment had now been $32,500 and he explained to me, similar to other agents, that in order to activate the insurance, I needed to pay half of my investment, $16k, but he would negotiate with the insurance company for less. After several phone calls and transfers to the insurance agent, they agreed on 10K.

I told them I had no more credit on my card and needed to do a wire transfer. They sent me an email from support@eclipsinsurance.com with bank details in Wells Fargo in San Francisco to a Henley Guridy, the Accounts Manager. I didn't question it. Jeff Duncans even called me to correct the Swift number.

The end of the story is that Jeff Duncans disappeared along with the money and Diego came back denying he was ever fired, claiming a medical emergency had him out of the office. He tells me that wire transfer info was bogus as it did not come from them and I need to add another $10K to a bank in Bulgaria!
Now I am laying the responsibility on FourMarkets, for the actions of their employee, Jeff Duncans. He had access to my account and even gave some trades (50% wins at best) and increased my max from 2500 to 5000 to allow me to recover the account. They say I have no $ to withdraw. Today they offered me to get $17K back if I reactivate the insurance with 5K. I am not giving them another cent and I am pursuing all avenues, including a trace from my bank from which I transferred the money. Another agent, Alex told me he heard Jeff was fired and yet another agent Ben, told me it was being investigated.

FourMarkets.com is a site to keep far away from. Read reviews on other forums as well. A company with no address, agents coming and going and stealing money- stay far away.
 
What country are you in? That can make a huge difference in where you can report this. No matter where you are, report this to www.econsumer.gov

Since a US bank and Insurance company are involved, you can report the issue to IC3.gov and the CFTC.

Eclipse Insurance looks like a real company. I also see nothing about insured trades on their website. Since there is no such thing as an insurance policy on trading, the email showed to you was probably fake. You need to contact them and inform them about this.

Contact Wells Fargo directly. Also, report all of this to your bank.

Let me state again that there is NO SUCH THING as insured trading. The only limited exception to this is a few brokers will cover up to a few hundred dollars (out of their own pockets - not via an insurance company) on newbie accounts - with so MANY strings tied to the "insurance" that collecting it is a rare thing. No insurance company will insure tens of thousands of dollars being traded. Considering that the company keeps blowing your money over and over and even has employees stealing your money, if there was any insurance like this, the company's policy would have been cancelled already.

It's very possible that this whole thing from beginning to ending was orchestrated by the broker itself.
 
FourMarkets.com is a site to keep far away from. Read reviews on other forums as well. A company with no address, agents coming and going and stealing money- stay far away.

And how the heck did you throw your money in this ?
 
This is why it is so important to read reviews about companies before you started to work and especially to trade with them. You also need to read and learn more information about investments stuff, read some books, forums and trade in the future only with reliable companies with good reputation. Good luck my friend in returning your money back to you.
 
They robbed me too, but I didn't know how to use this forexpeace site. Now they have vanished, but they were in Santo Domingo and a person Jahil is the scam owner and he is very rich now after robbing all. May be linked to on Willem Marthinus de Beer as he has many companies in London, and the address on the site is the same
 
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