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Problem Gtl trading dmcc

I am having an issue with a company
Another reason to encourage people who have problems to complain to the authorities. It can take a long time, but if enough information is provided, then the wanted posters really can be issues.
 
Mahmood Riaz,oops,he did it again !!!

There we go again! In the latest fraud,Capricorn fxg 10 funds was allegedly swindled out of $ 26.6 million by BVI domiciled Global Tradewaves Ltd. (GTL),the notorious scam firm,operated by Mahmood Riaz and Waseem Ashraf.

In his complaint,Capricorn funds claimed Riaz admitted that Global Tradewaves was insolvent and that client money had been used to pay losses incurred by the Company in trading financial products on its own account.
In an email dated 26 June 2013,Riaz reiterated that the Company (Global Tradewaves ltd BVI )did not have sufficient money to satisfy its liabilities and in an email dated 8 july 2013 Riaz acknoeledge that the “Company has to be wound” (sic!).:confused:
As a result of losses from the alleged fraud by Global Tradewaves, all three currency classes of Capricorn FXG10 have been suspended.

For further details:Gtl trading,Gforex, Mahmood Riaz, Claudio di Fonzo & Co.
capricorn vs global teadewaves.JPG
 
fraud never sleeps

Who knows what will be the next fraud? Maybe Gtl Tradeup (Australia)?:confused:
 
Last edited:
GtlTradeup Pty ltd fraud case:some useful information for the tricked customers

Here is the link for ASIC complaint form:
Australian Securities and Investments Commission - Report misconduct to ASIC

ABN lookup (n°36 145 955 906):
ABN Lookup - Current details for ABN: 36 145 955 906

Others links:
Financial Dispute Resolution
View All Details

Steven Kugel and Anthony Warner (CRS Warner Kugel) have been appointed as the Liquidators.For all contact in relation to this matter:
Mr Sam Thing of CRS. Phone 02 8243 5231 - email sam@crspartners.com.au

The investigator for FMA NZ assigned to this case is Steve Brunton
T: + 64 4 474 2049 |
Level 2, 1 Grey Street, Wellington
PO Box 1179, Wellington 6140, New Zealand
Stephen.Brunton@fma.govt.nz
 
dubaiscam said:
This is,of course,nonsense:Mahmood Riaz is in Australia and has been working with liquidators!!!
Clients owed millions after derivatives broker GTL Tradeup collapses
Click to expand...
I think it's a bad article.They mentioned $1 million has been sent to Gtl Trading UAE,but no mention Riaz,next to his wife,Leila Campana are linked to this fraudolent firm,And they don't wonder what has happened of other $2,5 million.
Finally,it seems the liquidators have been selected by Riaz and they get along with him.It's not good thing for the creditors!
 
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Creditors meeting to be held next week. Believe creditors can demand the appointment of another liquidator if this liquidator not deemed to be sufficiently at arms length?
 
Let me remind you...

Look at what Mahmood Riaz said with relation to the penultimate recent fraud of $26.6 million that involved this fraudster with the BVI based firm,Global Tradewaves(GTL),now dissolved and the Cayman based hedge fund,Capricorn fxg10:

“by an email dated 20 juin 2013,Mahmood Riaz a former director of the company ( the fraudolent firm Global Tradewaves ltd,ed.),informed Mikkel Thorup ,Chief Investment Office for the Investment Manager of the Applicants,that the Company “has no money to pay the liability of your fund”and asked that “either convert the debts into loan agreement or we file a bankrupticy”.

What may we expect from that seedy guy?...

file in attachment taken from:Gtl trading,Gforex, Mahmood Riaz, Claudio di Fonzo & Co.: JP fund Group vs Global Tradewaves ltd (GTL) - documentazione legale-parte 1°
 

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