FX Scam Algotechs (https://algotechs.com/ ) and BeAlgo (bealgo.com)

[Mac101]

Same story as others here. Invested a small amount 2 years ago. Made a withdrawal and got it immediately. Continued to deposit money over the period and saw profits rising. Got regular calls from Samantha James to see how it was going for me. Seemed legit and wasn't pushy. My account manager then changed to Ken Kovach who was more pushy and promising great returns due to different world events and so it went on.
I tried to withdraw funds in March 19 and was told that as I had a lot of negative trades open so couldn't at that time. I thought it would sort itself out over a week or so but the negative trades got larger. I emailed Ken to get in touch but a colleague rang me instead giving me 3 options. 1. Invest more money and they will try to recover the account. 2. Close the trades and accept the loss. 3. Leave it and see what happens. His arrogant attitude was infuriating and when I said there was no way I was putting any more money in he became rude and argumentative.

Next I was contacted by Yhan Valis who gave me the same options with the same arrogance. Was offered 5% of my initial investment as a settlement!

I have been in contact with Payback Ltd. Nervous that this is throwing good money after bad! Any advice welcome.
Tough lesson!!

Contact EFRI

 

[JuliaMarkus6]

I have committed to Payback Ltd . I was in such a panic I wanted to get the ball rolling. I hope I don't regret it.

FPA Forums Team Note: The Ontario Securities Commission has issued a warning against Payback Limited.

https://www.osc.gov.on.ca/en/NewsEvents_nr_20180816_investor-alert-payback-limited-trans-atlantic-direct.htm

Yes I also feel they are a scam. But if they are able to get back ur funds, then good for you even if they charge 10% or so.

FPA Forums Team Note: If you feel they are a scam, sending them money and hoping they are not a scam would be a bad idea.

 

[JuliaMarkus6]

ok, they skipped the processor, but further explanation on first comment

…even though Moorwand ltd income statement explain little or nothing, however their 2018 gross profit 8.4 m allow some deduction of total sums been processed, rather massive, let’s hope for them they have at least some legit merchants

I was also looking for such explanation videos, but how does this video fit exactly in our context? I assume most of us have paid mainly via UPayCard.

 

[JuliaMarkus6]

Hello all - did anyone of you use "WST Capital Stichting" based out of Amsterdam as their Payment Service Prodiver (PSP)? I googled and found that thi sPSPS is blacklisted. I am unable to find their contact details for charge back. Does anyone have more infos?

 

[Mac101]

I was also looking for such explanation videos, but how does this video fit exactly in our context? I assume most of us have paid mainly via UPayCard.

I Believe IPC are liable and complicit in handling these scam acnts. They Must have known as the web was alive with info on Bealgo. Im / my solicitors are going after them .

 

[Mac101]

I Believe UCC are liable and complicit in handling these scam acnts. They Must have known as the web was alive with info on Bealgo. Im / my solicitors are going after them .

Thats UPCard not UCC

 

[cherryoaks]

Yes I also feel they are a scam. But if they are able to get back ur funds, then good for you even if they charge 10% or so.

FPA Forums Team Note: If you feel they are a scam, sending them money and hoping they are not a scam would be a bad idea.

If pay back can get 90% of capital back into my account I will be relieved

 

[oscarra]

I was also looking for such explanation videos, but how does this video fit exactly in our context? I assume most of us have paid mainly via UPayCard.

https://upaycard.com/about

you mean the Cypriote Prepaid card ? how come many might have paid with such junkyard device, could you explain….check clause 13 in terms…chargeback (suppose a lot of BS)

https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000003ZcrWQAAZ

they show psp licence, as well when ever you see various scam broker accounts in banks, in fact these are no legit broker business accounts, but belong to various stinking psp’s….

also guys open your own scam alert threads, it’s getting out of hand here....then we talk PREPAID Junk cards

 

[Ebrahim88]

I'm in the same situation with them. No real progress for the last month.



Furthey they mention they are working on to relocate the accounts to new bank account but it seems just a trick to win some time.

Hello friend, did u receive ur money from them ?

 

[cherryoaks]

Same story as others here. Invested a small amount 2 years ago. Made a withdrawal and got it immediately. Continued to deposit money over the period and saw profits rising. Got regular calls from Samantha James to see how it was going for me. Seemed legit and wasn't pushy. My account manager then changed to Ken Kovach who was more pushy and promising great returns due to different world events and so it went on.
I tried to withdraw funds in March 19 and was told that as I had a lot of negative trades open so couldn't at that time. I thought it would sort itself out over a week or so but the negative trades got larger. I emailed Ken to get in touch but a colleague rang me instead giving me 3 options. 1. Invest more money and they will try to recover the account. 2. Close the trades and accept the loss. 3. Leave it and see what happens. His arrogant attitude was infuriating and when I said there was no way I was putting any more money in he became rude and argumentative.

Next I was contacted by Yhan Valis who gave me the same options with the same arrogance. Was offered 5% of my initial investment as a settlement!

I have been in contact with Payback Ltd. Nervous that this is throwing good money after bad! Any advice welcome.
Tough lesson!!

Hello friend, did u receive ur money from them ?

I am working with pay back and we are hopeful