GUILTY Case# 2015-082 | jeff_calgary vs capitaltrustmarkets.com

[F***X]

If you can't trust CapitalTrustMarkets.com, good job - you've read this post.

Of all the ridiculous excuses this "CapitalTrustMarkets.com" (owned by CTM Group Limited, New Zealand) can conjure up in order to scam on a withdrawal, this is one of the most disturbing cases I've seen. With no evidence supporting this broker's wild accusations by definition, is nothing but an unregistered BUCKET-SHOP. Anyone thinking about sending your hard earned money to these hooligans be warned:

"The Most Reputable & Trusted Name In The Financial Trading Industry" ??? isn't it an insult to the industry to make such false statements, not to mention fraudulent to claim to be registered with the FSPR NZ?

CTM GROUP LIMITED (Deregistered)
The Registrar gives notice that this Financial Service Provider was de-registered under section 18(1) of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 on 15/05/2015

Trading names: Capital Trust Markets
Business Address: 41 Shortland Street Plaza Level Auckland

Reference Financial Service Providers Register:
Search Summary Company FSP

 

[Pharaoh]

Looks to me like the vanishing act has begun.

GUILTY!

 

[Ibrahim Adam]

did they give you bonus before u start trading?

 

[Gladiator76]

This must be one of the most stupid excuses I have ever heard for not giving you your profits.

 

[Scammed_By_RezaMokhtarian]

Reza Mokhtarian, the "Grand Scammer" of Forex

CTM's Reza Mokhtarian simply ignores clients' requests for sending even their deposits back (not to mention their legitimate profits).
_
He holds on to more than 500k USD according to one of his ex-employees, while posting YouTube videos posing with his Lamborghini, Ferrari, Rolls-Royce and Bentley. Just read this thread: https://www.forexpeacearmy.com/fore...italtrustmarkets-com-possible-scam-alert.html
_

Mr. Mokhtarian has also made threats against the moderators of FPA and FerrariChat:


1. https://www.forexpeacearmy.com/fore...as-made-threats-against-fpa-3.html#post204032


2. who is Reza Mokhtarian? - FerrariChat.com

 

[Mets]

This is a broker who deserves to be mentioned as "the example of a scam broker" in seminars and presentations.
More guilty u just can't

 

[christinamarrison]

Not many brokers accept FPA's invite to come to the party because they know they will be going home without their bag of goodies.

 

[Leofitz]

Fraud by New Zealand FMA

From an article in financemagnates.com: The New Zealand Financial Service Providers Register (FSPR) has deregistered the firm CTM GROUP LIMITED operating the forex brokerage Capital Trust Markets as of today, May 15, 2015. The FSPR is part of the New Zealand government under the Ministry of Business, Innovation and Employment.

According to documents seen by Finance Magnates, the clients were simply sent to seek help outside the regulatory system. The government response said: “CTM used to be registered on the Financial Service Providers Register (FSPR) which is overseen by the Companies Office however they have been de-registered from that and therefore no longer part of a disputes resolution scheme. You will need to seek legal advice about what other action is available to you.”
If this is the way the FSPR handles complaints, clients can question the whole reliability of trading with New Zealand registered firms, as when they need the help of the authorities they are turned away to a potentially costly legal battle. Finance Magnates posed a similar question to the New Zealand’s Financial Markets Authority (FMA) in the recent case of Insolvent Broker Forex Trend, and will update when the regulator responds as promised.
”

I received the same response from the NZ FMA. It is amazing that a government agency would act in such nonchalant manner to clear fraud and abuse by a business under its authority. From the witness of CTM clients it seems obvious that the New Zealand FMA is either incredibly "unskilled" or complicit in financial fraud with Capital Trust Markets.

Could all CTM clients please send a letter of complaint and inquiry to the New Zealand FMA stating their expectation that the FMA prevent illegal activity under their jurisdiction and extend legal constraints on Reza Mokhtarian and TM for reclamation of client funds. Then post the FMA's responses on this thread. Write here: questions@fma.govt.nz It would seem a relevant question to ask them is that since CTM was registered in New Zealand with them, don't they feel a legal responsibility to protect clients who assume FMA oversight? Doesn't the government take action if a business under their oversight tries to close shop and take client funds? For reference CTM registration info is below.

I would request of the moderator that we list a vote for a sanction of the FMA of New Zealand. Traders should be alerted that the NZ government invites fraudsters to set up off-shore businesses with the mutual understanding that their theft of client funds and then de-registration is acceptable business practice in New Zealand. Traders and anyone considering business activity should be alerted to the fact that the New Zealand Financial Authority has thrown open its arms to welcome fraudsters and scammers. Perhaps such a vote would get their attention and encourage them to act like a real government?

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CTM was registered at Business support, information and advice | Business.govt.nz

CTM Ltd.
Captial Trust Markets
Reference: 4623222
website: Capital Trust Markets | Online Forex Trading Broker | Regulated MT4 Broker

NZ Business Number:9429030078604
Incorporation Date:16 Sep 2013
Company Status:Registered
Entity type:NZ Limited Company
Constitution filed:No
AR filing month:November , last filed on 08 Dec 2014
FRA Reporting Month:March
Ultimate holding companyNot specified
Company Addresses:Registered Office
41 Shortland Street, Plaza Level, Auckland, 1010 , New Zealand
Address for service
41 Shortland Street, Plaza Level, Auckland, 1010 , New Zealand
View all addresses
DirectorsShowing 1 of 1 directors
Reza MOKHTARIAN
1900 Lake Shore Blvd W Ph 3, Toronto, On, M6S 1A4 , Canada