I've been scammed by 'Michael Davis' - LibraMarkets.com

The Punisher

Master Sergeant
In fact I do not agree with the title.
Michael Davis helped me get my money back two and a half months ago!
And from what I understand he was fired because of this forum !!
He's a good guy and even comes to volunteer at a live shelter
I found the live shelter that Michael Davis is a volunteer at!




I invested circa €29,000.00 with Libra Markets. When I made this initial investment they told me the most I could ever lose was 10% of my investment. I had an account manager (three during the period) who did the trading for me. All went well from January 2020 to October 2020. Profits made on trading my account were circa €27,000.00 - almost doubling my initial investment.

By this time, I needed £10,000.00 to pay for the replacement windows in my home. I gave notice to my account manager I wanted to withdraw €11,500.00 of my profits - which he seemed quite alarmed about. A few days later I received a phone call from him informing me that all my money was at risk and this was due to the high volatility of the Forex markets. I needed to pay Libra Markets €6,000.00 to secure my account from any losses. I did not have that sort of money - it was all with Libra Markets. Hence, I told my account manager to take it out of my accounts profits. He told me he could not do that. I must pay €6,000.00 into the account. I could not do that. Therefore, I thought for a week or so on what my options were. I decided to close my account.

Low and behold later that day, when checking my account, profits had dropped to zero due to a trading loss of circa €27,000.00 in one day! I instructed my account manager to close my account immediately and send me whatever money there was remaining in my account to my bank account via Kraken. He said he could not do that. There were 11 open trades and until they are closed, I cannot make any withdrawals from the account. These open trades were never closed – they just kept trading them with huge losses. Every time I asked, there were reasons why they were still open.. The most common reason was the account had to be in profit.

By February 2021 my account was in negative equity. My account manager told me to hang on for a week or so and he would see if he could get €20,000.00 credit put into my account in order to start trading again, make profits, which if trading was successful would at least recover my initial investment. The 20k credit went into my account. Nevertheless, after about five weeks, there were huge losses each day on the Forex trading and the account went into the red again. Once again, my account manager said he would try to get me more credit. He said, "Allow me 4 or 5 weeks and I will phone you to tell you".

Well, it has been something like 6 weeks now. I have lost my life savings/inheritance. Authorities have closed the Libra Markets website. I do not know who I can turn to and trust in an attempt to recover my initial investment. Someone saying they worked for Libra Markets Recovery department has already defrauded me for £700.00. Hence, I am very apprehensive about trusting anyone who says they can help claim back my money.

Do you think I have any chance of getting my money back? If so, whom should I contact? Where do I start or should I just put this behind me and move on?