I have been scammed by a company called ZAR Forex

DevonW22

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Hi I am from South Africa and have been scammed by a company called ZAR Forex and my account was being traded and managed by a trader by the name of Jean Merignac email address jean.m@zarforex.com . I started my trading account very small at about 400 dollars and eventually made quadruple what i started in until it was eventually run dry. Jean eventually by the looks of it stopped bothering about my account could never contact him and eventually account was blown. I would like I would like to ask for forex peace army what action i can take again ZAR Forex and Jean? I would appreciate your help.
 

Pharaoh

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Can you give a little more detail about how it "ran dry" after making a big profit?
 

DevonW22

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3
Can you give a little more detail about how it "ran dry" after making a big profit?
He traded without any stop losses so the trade obviously went volatile around the time of the US election and i had 2 trades running the "EURNZD" and the "GBYJPY" when my father and i both contacted him he would never get back to us or even reply so it felt as if he didnt care anymore because these trades got worse and worse while he never got back to us. The "EURNZD eventually recovered to $128.23 but was then cancelled out and my account lost $1606.29 on the "GBYJPY" trade leaving me with $8.04 left.
 

Pharaoh

Colonel
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20,046
I assure you he cared a great deal. He was sitting there laughing while watching both accounts move towards zero and didn't want his pleasure interrupted by having to make up new lies to tell you.

Simple rule - never ever let any forex broker employee make trades for you.

How, when, and how much did you deposit?
 

DevonW22

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3
I assure you he cared a great deal. He was sitting there laughing while watching both accounts move towards zero and didn't want his pleasure interrupted by having to make up new lies to tell you.

Simple rule - never ever let any forex broker employee make trades for you.

How, when, and how much did you deposit?

I first Deposited $400 in November 2014 through zar Forex and then my father Deposited $500 about 3 weeks ago to keep my account going
 

Pharaoh

Colonel
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20,046
How were the deposits made? Credit card, bank wire, something else?

If by credit card, contact the fraud/disputes department of your issuing bank immediately. Explain each and every lie and broken promise made, Ask about a chargeback.

Were both of these deposits into the same account? If so, was the account in both names, or did ZarForex knowingly accept your father's deposit into an account exclusively in your name?
 

MIKE WILSON

Private
Messages
37
Hi Pharoah

i took your advice and contacted the British Virgin Island authorities to try get assistance so that action can be taken against ZARFX. THEIR REply is as below :



Dear Mr. Wilson,


The BVI Registrar of Corporate Affairs reveals that ZAR Solutions Limited (the “Company”), operating the website ZARFX at zarforex.com was incorporated on 21st July 2014 under BVI company no. 1833804. The business company has no physical presence in the Virgin Islands, but has a registered address in care of its registered agent:


Overseas Management Company Trust (B.V.I.) Ltd.

OMC Chambers

Wickhams Cay

P.O. Box 3152

Tortola VG1110

British Virgin Islands.


The BVI Financial Services Commission’s (the “Commission”) records indicate that no licence has ever been issued to the Company to conduct financial services business in or from within the Territory. Therefore, the Company has never been subject to our regulatory oversight or supervision. This entity is simply a BVI Business Company and not a BVI licensee.


Given that the Company is not a BVI licensee, there is nothing we can do to assist you in recovering your invested monies. Whilst the Commission does not provide any legal or investment advice, we can only suggest that you consider contacting the Company directly at its registered address, or seeking independent legal advice on the matter.


We hope that this information is helpful.


Regards,


Levette E. Walters

Legal & Enforcement Division

BVI Financial Services Commission

Haycraft Building, Pasea Estate

PO Box 418, Road Town

TORTOLA VG1110

BRITISH VIRGIN ISLANDS

Phone: (284) 494 4190 Ext. 4118

Website: www.bvifsc.vg

Now my question to you , is there any other way that these bastards can be brought to book and maybe some money paid back to us. ?

Or is there perhaps a good lawyer that will go after thes bastards. These bastards like Jean Merignac and company need to be so named and shamed that no trading company will ever want to be associatted with them in any manner ....

Pharoah

please help us get some justice from these sick bastards.

regards
 

Pharaoh

Colonel
Messages
20,046
Get in touch with the fraud/disputes department at your bank. Deadlines seem to vary, but can be as long as 540 days in some cases. What you want is to try for a chargeback based on fraudulent failure to provide promised services.
 
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