GUILTY Case# 2018-159 | Destiny'sChild vs Kayafx.com

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

  • Guilty

    Votes: 75 100.0%
  • Not guilty

    Votes: 0 0.0%

  • Total voters
    75
  • Poll closed .

Destiny'sChild

Private
Messages
23
Original FPA Traders Court Submission:

I am submitting the case against: Kayafx

My Case is: Early April 2018 I am contacted by James Dorn Zitzelsberger and his partner Philipp Schmidt and told that their ex- boss of TraderVC had misappropriated all the clients' funds and is sitting in jail and that therefore my investment of 40.000 Euros made in 2017 had also disappeared. They told me that they are now freelancers, incorporated with Kayafx, to use the platform for their own project which was to test and eventually buy an Algorythm-Trading-System from a Chinese businessman. James asked me for a second chance and to invest with him again. He promised me on the head of his children that he would pay back all my loss and generate much more profit. After some consideration I decided to go for it as it is said one should always give a second chance, and I wished very much to be able to buy a flat for my disabled sister. So I believed and trusted and sent money. I was called almost daily by them, mostly just for a chat or to ask to send more funds.
At the end of May, I had already invested 150.000 Euros. When they wanted me to send more money and because of the huge profits already generated, I asked for a security for my investment. Following this I received a Capital Protection Contract with a one-month validity and the possibility to renew if necessary. I felt secure and sent more money again. At the end of June 2018 my total investment was 689.000 Euros and my account showed an accumulated profit of 986.000 Euros and an equity of 1.851.000 Euros.
I had always made very clear that from the beginning of July I should be in need of withdrawing part of the accumulated profit what never seemed to be an issue. So I first asked James Dorn Zitzelsberger to renew my Capital Protection Contract what was refused; such need would not exist and the CPC was only a deterrent. I then asked for a withdrawal what got ignored, and after several other attempts our contact cooled down sharply. I was of course alerted but stayed friendly and waited with hope and patience. On 1st August the last trades on my account were made. On 6 August I open a second account to which I transfer an amount of 1.474.622 Euros to do a withdraw request. James Zitzelsberger contacts me and tells me that first I cannot do a withdraw request without his consens and booked the whole amount back to the initial trading account.
On 13 August when doing my daily check and login, I see a hundred of negativ trades burning down big part of the profit in front of my eyes. Under chock I again opened another kayafx-account and transferred 500.000 Euros to keep it away from the algorythmsystem running on the initial account. In the middle of the following night I open a withdraw request of 596.000 Euros from the first account and 500.000 Euros from the second account. At the same time I am doing a Recall for the last invested amount of 89.000, after which I get contacted by my broker and asked to cancel it otherwise he could not do anything for me anymore. Few days later a Mr. Martin Roth, himself headbroker, calls and tells me that he now is in charge of my account as James got moved within the company for other duties!?!? He asks me to cancel the recall what I refuse. I ask them to refund me first and then I would cancel the recall. Some days afterwards I get contacted by the so-called CEO David Berg who asks again to cancel the recall otherwise they would freeze my account and I would never see my money again.
I confirmed this phone call by e-mail to Mr. Martin Roth and David Berg as the threats were significant and important for my claim with the public prosecutor.
Since 29 August 2018 I cannot log into my account anymore.
I have fortunately all evidence of all conversations, of each and every trade, of each funding of the account with kayafx, of each statement of account and each withdraw request and can provide them if needed.

#1

New thread in the Scam Alerts Folder:

Review is submitted by Destiny'sChild on 09/30/18

The company was first contacted about the issue on 07/11/18 the last contact was on 08/26/18

Details: I would like to send you by mail my e-mail "confirmation of the Phone conversation with Mr. David Berg of 24 August 2018" . All other evidence needed can be provided by mail too.
Thank you.

Company representatives' emails: Martin Roth <martinr@kayafx.net>
James Zitzelsberger <zitselsberger@gmx.de>

 

Attachments

AsstModerator

FPA Forums and Reviews Admin
Messages
5,495
First, send an email to all the addresses you have for KayaFx. Include the link to the thread you opened in Scam Alerts. Do not give them the link to this case thread. They cannot see it yet. Ask them to join the Scam Alerts thread and explain why you can't withdraw your money.
 

Destiny'sChild

Private
Messages
23
On October 3, 2018, I have sent an email with the link to my thread in Scam Alerts, to the headbroker Mr. Martin Roth <martin.r@kayafx.net> and to the Support <support@kayafx.com>. I asked for a representative of Kayafx to open a discussion and present the companys’ side of the issue, i.e. explain the reason for which my access to the account is denied, my account is frozen and all my requests for withdrawal have been ignored.
Up to date I have not heard anything from Kayafx.
I am going to send the same email to the other mail addresses such as compliance@, verification@, billing@ and info@kayafx.com and GammaTech.
 

Destiny'sChild

Private
Messages
23
Up date:
Until today I have not heard anything from KayaFX regarding my request for explanation. All the sent mails have not been answered but ignored.
 

Tryingtrader

Sergeant
Messages
149
I must say that from all the description you have given of your trading experience above it falls into the pattern of a classic fraud and scam operation. Typically, to start with the company is very friendly and chatty, urging you to deposit more money into your account. You see winning trades and are encouraged by this to deposit more. However when you request to withdraw some funds the request is denied or excuses given why this is not possible. Why is this same pattern followed by the majority of these scammers? Sad to say but they have just simply stolen your money - but led you to believe (using a fancy controlled website) that your money still exists in your trading account and that you are making 'profits'. It is all an illusion, the money is long gone and every time you send more you will never see it again. The trades on the website are fictitious and the trading robots are controlled by the scammers to win or lose depending on whither they want to impress you or empty your account.
As you have the details of conversations held with them and documents showing trades, you could make a legal case to recover your funds - but it will take a long time and a lot of money. You could ask your bank to recover the deposits (by chargeback), if you made them using a debit or credit card, citing "Services promised were not received". If you funded your account by direct bank transfer then I'm sorry to say it looks like your money is lost. You, like me, have been scammed and we are amongst thousands of others who have suffered the same fate.
The World is slowly waking up to this worldwide scam in which hundreds of fraudulent websites are simply stealing money under false pretences. Guilty verdict from me!
 

oscarra

2nd Lieutenant
Messages
1,059
Ohhh...big money stolen...
Elderly retired victims live time savings, has long time been an easy target for these criminals, leading of course to even more sever damaging consequences

Next most dangerous traps, recovery scams, fancy Lawyers promises without facts…etc…a long list

…members are well come to help out, searching LinkedIn, Uk,Cy Registrars, other forums for above names, profils etc..whatever can be found, just post it, the Limassol 169 office Lophitis Business Center one more criminal headquarter as well….

https://www.forexpeacearmy.com/community/threads/soarfx-scamm.55883/page-2

also the Bank accounts of those Gangster’s, sooner or later they will show up
 
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