GUILTY Case# 2017-077 | Iceman543 vs gbocapital.com

Based on the available evidence, do you believe that GBOCapital.com is Guilty?

  • Guilty

    Votes: 94 100.0%
  • Not guilty

    Votes: 0 0.0%

  • Total voters
    94
  • Poll closed .

Iceman543

Private, 1st Class
Messages
40
Original FPA Traders Court Submission:

I am submitting the case against: www.gbocapital.com/

My Case is: GBO CAPITAL (Formally Prime Brokers)

Has anyone had dealings with GBO CAPITAL and have experienced the same thing?

I was doing very well with John Adams till GBO Capital took over.
John Adams has left there since.

What GBO Capital did was run my account down. As soon as the TP limit was reached they raised the limit till finally it went past the SL and of course lost my money. They just would not take profit, and why not as they got paid whether we won or lost!!
A friend of mine invested $57k+ and under John Adams we were both doing very well, including my daughter.
GBO capital comes on the scene and we lost everything as well..same thing they kept raising the TP..but had no hesitation on pulling the plug when it reached the SL.

John Adams advised me to close my account when it was dangerously low and I accepted and sent in the details and he CLOSED my account on the 24th April.

THat was on the 24th April!! more than 8 weeks ago.
As of this moment I haven't received any of my funds back in spite of constant emails .
A guy named Michael Anderson informed me that when and account is closed it takes about 6 weeks.
After that in spite of numerous emails to Support and to him I have not received an answer or the funds.
Well its now over 8 weeks and I am worried whether they have done a runner and I don't want to wait too long to report this in case it gets too late and by then the bird has flown.

I hear they are also not registered, and I would like to know if this is right?


THIS IS DAYLIGHT ROBBERY AND PUTS THEM IN THE SAME CLASS AS OPTION RALLY WHO SCAMMED $96,904 OF MY SAVINGS. These guys are criminals and have to be stopped.

New thread in the Scam Alerts Folder:

Review is submitted by GBO CAPITAL (Formally Prime Brokers) on 05/28/17

The company was first contacted about the issue on 05/09/17 the last contact was on 08/18/17

Details: This one is from a Michael Anderson. He didnt even have the courtesy to sign the first reply.
He signed the second reply and thats the last I heard from him.
I have loads of email trails and Skype docs where John Adams sumitted my withdrawal.


Hi Michael,
Could I please have an update on this issue below and where it is up to.

Thanks

Martin

From: martin williams
Sent: 11 May 2017 00:16
To: 'Support' <support@gbocapital.com>
Cc: john@gbocapital.com
Subject: RE: Release of funds ASAP

Hi Michael,

Thank you.
Much appreciated.

Regards

Martin

From: support.62949.54080b4ebba31e5c@helpscout.net [mailto:support.62949.54080b4ebba31e5c@helpscout.net] On Behalf Of Support
Sent: 11 May 2017 00:12
To: Martin Williams <icemann543@outlook.com>
Cc: john@gbocapital.com
Subject: Re: Release of funds ASAP


Hi Martin,

Thank you for the reply.

When it comes to a regular withdrawal, it takes up to 7 business days.
In your case we have to close the account and that's the legal process that takes a bit longer.

We have to make sure that all the paperwork with all the departments in the company and the banks are done correctly.
I'm very hopeful it will be as soon as possible.

Regards,

Michael Anderson
GBO Capital - Support Department


How would you rate my reply?
Great Okay Not Good

--

GBO Capital - Support Department

Our website: www.gbocapital.com




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{#HS:362500112-2446#}
On Wed, May 10, 2017 at 2:04 PM UTC, Martin Williams <icemann543@outlook.com> wrote:
Hi

Thanks for the speedy reply.

I notice deposits are taken really quick but quite honestly with respect don't understand why closing an account would take so long, especially for such a small amount.



John told me last week it should be in my account by now and he was going to chase it up.

It makes it a difficult decision if a customer wants to return.



You guys are a $billion company so..

My question is why will it take so long ?



The email was unsigned so I don't know who to address?



Martin
On Wed, May 10, 2017 at 1:55 PM UTC, Support <support@gbocapital.com> wrote:

Hello Martin,

Thank you for your email.
Closing an account is a process that takes time.
Please be patient. It might take up to 6 weeks.

Feel free to contact us with anything.

Regards,


--

GBO Capital - Support Department

Our website: www.gbocapital.com




This e-mail, including attachments, may include confidential and/or proprietary information, and may be used only by the person or entity to which it is addressed. If the reader of this e-mail is not the intended recipient or his or her authorized agent, the reader is hereby notified that any dissemination, distribution, or copying of this e-mail is prohibited. If you have received this e-mail in error, please notify the sender by replying to this message and delete this e-mail immediately.
On Wed, May 10, 2017 at 1:52 PM UTC, Martin Williams <icemann543@outlook.com> wrote:
Hi Guys

I closed my account several weeks ago and still haven't received the balance credited to my account yet in spite of several requests by me to John Adams who closed my account for me several weeks back and sent you guys the details.
This is only a small amount around $1200 so it shouldn't be a real issue.
Could John Adams plz give me a call or email me or could someone from your finance department give me a call or email thanks.

My details were
Beneficiary Name: Martin Williams
Beneficiary Address: 6/90 Arthur St, Rosehill, 2142
Bank Name: ANZ
Bank Address: 310 Summer St
Street: Orange
City: Sydney, NSW 2800
Country:Australia
IBAN / 012370451099564
SWIFT/BIC: ANZBAU3M

Could you please advise when is this going to be done as I can't get in contact with John either, as I am going to need these funds for my eye surgery.

Regards

Martin

I HAVE HEAPS OF EMAIL TRAILS

Company representatives' emails: John Adams <John@gbocapital.com>

 

Attachments

  • Sky Conversation with John Adams before he left.docx
    19.8 KB · Views: 1

AsstModerator

FPA Forums and Reviews Admin
Messages
5,651
I've just sent the formal FPA invitation to GBO Capital. Please post an update on Thursday or Friday to let me know if you've heard back or not.

Do you have any documents which specifically prove PrimeBrokerZ turned into GBO Capital or shares ownership with GBO Capital? I like to link together the review pages for sites which are connected.
 

Iceman543

Private, 1st Class
Messages
40
I've just sent the formal FPA invitation to GBO Capital. Please post an update on Thursday or Friday to let me know if you've heard back or not.

Do you have any documents which specifically prove PrimeBrokerZ turned into GBO Capital or shares ownership with GBO Capital? I like to link together the review pages for sites which are connected.
Thank you. We didn't get any formal docs that GBO Capital changed hands except we had to sign a new form and the platform changed from Prime Brokerz To GBO Capital in which John Adams had accumulated quite a bit of profit for the three of us. However after GBO Capital took over everything changed and they ran My daughter account , my friends account and my account to the ground. John saved some of mine but sadly they took my daughters and my friend leigh's account to the ground.
I was the only one who had some money left and it was going down fast. That's when i contacted John Adams again and gave him a serve and he suggested I quickly close the account and take whatever money that was left.
It looks like that didn't work either as they also took that as well.

I will let you know if I hear from them.
 

Iceman543

Private, 1st Class
Messages
40
Also I think John Adams has left and the only contact was that Michael Anderson.
I have emailed them virtually every day from the word go.
 

Iceman543

Private, 1st Class
Messages
40
I've just sent the formal FPA invitation to GBO Capital. Please post an update on Thursday or Friday to let me know if you've heard back or not.

Do you have any documents which specifically prove PrimeBrokerZ turned into GBO Capital or shares ownership with GBO Capital? I like to link together the review pages for sites which are connected.
No sign of them up to this moment mate. Its Friday afternoon here and they havent made contact.
 

Tryingtrader

Sergeant
Messages
193
This looks like yet another case of blatant theft! You say all three accounts were doing well under John Adams but you didn't say if any of you had actually successfully withdrawn any substantial money at any time from the accounts prior to the takeover. However the practice of raising the 'take profit' value is usually accompanied by using 'trailing stops', thus locking in some of the profit made. Clearly, from your descriptions, you are not in control of any trades and therefore totally exposed to whatever the trader decides - in your case force all trades to loose. This is not the ideal way to trade the markets.
However, having decided to close your account, a reputable company would a) explain clearly the process involved, b) have a fixed time for those processes to complete and c) stay in communication with prompt meaningful replies to any correspondence, none of which has happened here. It is an established technique of scamming outfits to delay or refuse transfers and also prevent account closure citing the Terms and Conditions signed when opening an account. The less refined scammers just ignore any correspondence and hope you will stop pestering them, and most people do. These guys look like the less refined variety and so automatically fall into the scammers and fraudsters category. GUILTY!
 

Iceman543

Private, 1st Class
Messages
40
This looks like yet another case of blatant theft! You say all three accounts were doing well under John Adams but you didn't say if any of you had actually successfully withdrawn any substantial money at any time from the accounts prior to the takeover. However the practice of raising the 'take profit' value is usually accompanied by using 'trailing stops', thus locking in some of the profit made. Clearly, from your descriptions, you are not in control of any trades and therefore totally exposed to whatever the trader decides - in your case force all trades to loose. This is not the ideal way to trade the markets.
However, having decided to close your account, a reputable company would a) explain clearly the process involved, b) have a fixed time for those processes to complete and c) stay in communication with prompt meaningful replies to any correspondence, none of which has happened here. It is an established technique of scamming outfits to delay or refuse transfers and also prevent account closure citing the Terms and Conditions signed when opening an account. The less refined scammers just ignore any correspondence and hope you will stop pestering them, and most people do. These guys look like the less refined variety and so automatically fall into the scammers and fraudsters category. GUILTY!

Thanks for your vote.
My sentiments exactly and i had a gut feeling about this.
When Prime Brokerz was there with John Adams making a withdrawal was no issue, (I personally didnt do any withdrawals even when John Adams asked if I wanted to as he knew my situation that Option Rally scammed me of my life savings and I was trying to get on my feet again) however my friend did withdrawals and that was no issue.
With Prime Brokerz we were trading binary options and when they changed over it was a different platform with the sT and TP. I really should have taken action when danger bells started ringing when GBO took over when suddenly our Binary option accounts started losing heavily. something that didnt happen before. Before we knew it what little was left was used in the other platform with GBo and the rest is history.
We didn't know much about the new platform and we saw the surge in our accounts with the new method were happy only to find they didnt take the Profits and kept losing them, but quite happily took the SL. There were also a heap of trades where they just closed it at a loss quoting Margin..something.
I think this time I have really learnt from this experience.
Thaks again
 

David1597

Recruit
Messages
3
This seems to be the new trick. Don't start a new company but take over an existing company that has a seemingly good reputation. Then change all the back shop software and practice to start ripping off traders. By the time people cotton on it's too late.
 

Iceman543

Private, 1st Class
Messages
40
This seems to be the new trick. Don't start a new company but take over an existing company that has a seemingly good reputation. Then change all the back shop software and practice to start ripping off traders. By the time people cotton on it's too late.

Thx mate. Too right.
Its like getting robbed!!
 
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