Varengold's name coming up twice re: Scams and Fraud!
this is yet another case with Varengold at the centre, so one must start to assume that they are either complicit in these scams or simply not worried about protecting either their reputation or members of the public from such things.
I think the FPA should take this to Varengold and ask them what they are doing about these scammers using their name and/or accounts..
GUILTY
MaxDoom - I was thinking the exact same thing -
VARENGOLD AGAIN!!
Maybe it is time the admin at Varengold were asked: "Please Explain" because their name keeps coming up when traders fraudulently lose money. Varengold seems to be very careless of whom they recommend as brokers. If this is the best Varengold can do - that is, recommend shonky and scam brokers - the question has to be asked - "Where is Varengold finding of all these scammers?"
Why is it that other banks are not shepherding clients towards scam brokers? How is it that Varengold do not have processes in place to detect criminal scam brokers? Is someone central to the decision-making process at Varengold connected to some kind of kick-back scheme, where they receive a fee for placing clients with risky broking outfits? Is the same person at Varengold associated with all of the recent scam activity involving Varengold?
It is my guess that Varengold's name will be coming up again in the near future.
If you have money with a broker that was recommended by Varengold, I advise you to close your account and take your money now.
And in the future, do not look for "greener grass" - stick with the reputable and solid brokers, who have been there for years. Do not go with some unknown "new" broker, simply because they were recommended by a bank.
What is the bank getting out of this? What does Varengold get from recommending these amazing brokers? I think it is time we began to hear from Varengold ... where there is smoke ... there is lots of heat!
Unacceptable! Be warned ... we need to hear from Varengold in this.
