Problem NoaFX failed to return EUR 275,000 funds

[1wildhorse]

if you value your money imho i would not be considering giambrone.they did little for me apart from emailing CMI.i provided them with all necessary information and are now not even responding to emails even though things have actually moved forward.to date i have been extremely disappointed in them as a law firm.obviously if they actually step up to the place i will possibly change this opinion but as it stands i would advise you to NOT WASTE YOUR MONEY

 

[1wildhorse]

No Formal letters to Banks……..nothing?


It sure needs some experience prior hopping on returns , but with all those scam brokerage Firms not even mentioning the Binary BS, it’s a systematic LOOSER deal……very dangerous ! Traders these days better keep a couple of thousand bugs on the side, for the LAW Firms, part of money management strategy.

this is actually true and raises questions about the ethics and moralities of the actual law firms....or are they also jumping on the scammer bandwagon to take a slice of the pie?

 

[alexx71]

this is actually true and raises questions about the ethics and moralities of the actual law firms....or are they also jumping on the scammer bandwagon to take a slice of the pie?

Unfortunately many law firms adds damage to damage, they ask money and maybe they just send a mail. For them it's easy gain 500 bucks just to write a mail, easy money....

 

[1wildhorse]

i believe i paid giambrone $6k......

 

[oscarra]

6000,00 usd for some emails (probably of no legal court value) ……something very wrong here personally I would get hold of the firms ruling authority’s.

Myself I am by 10k eur Law Firm expenses, a hole bunch of heavy Formal Registered Letters had been send out, towards sending Bank, receiving Bank The Royal Bank of Scotland, Worldpay, Allcharge, FCA, their Ombudsman services, local authority’s here in France etc….the follow up of the legal complaint was as well taken care…at this stage registered for civil action.

Each of these letters 4-5 pages resuming various laws, obtained reply’s, back and forth exchanges got established, quite some work load.

What’s sure today, thanks to this paper work, you can see the incredible lying and BSing of the RBS Bank and its client WorldPay (no need to mention Allcharge) their fraud departments all perfectly knew about these crime scheme they been supporting, its Business FIRST no space for CONSUMER ETHICS.

By the way we see it on FPA every day, how difficult it is for Victims to obtain positive chargeback, even though been involved with confirmed criminal entities.

(Sure, me to, quite some Profit on my account, but not in my pocket!

 

[Gian Piero]

personally i made over $300k using online4x,another subsidiary of CMI,and have been chasing it since last march to no avail.the lawyers giambrone that i retained did next to nothing,and are no longer replying to emails.
i sincerely with you luck and will be only too happy to help in any way i can

What kind of info about Capital Market Investments Limited have you come up with in your investigation? Any detail could help to expose CMIL and NoaFX fraudulent activities.

 

[1wildhorse]

What kind of info about Capital Market Investments Limited have you come up with in your investigation? Any detail could help to expose CMIL and NoaFX fraudulent activities.

good question.
this is not a simple answer so bear with me.
over the course of my investigation i uncovered a lot of information.
firstly there are 5 companies inextricably linked to the whole scam
i believe CMI are the mother company,and the 4 brokers linked to them are NOA,online4x,fxethos and bullscapitalmarkets.
ALL of these brokers were provided an mt4 platform IP which is exactly the same,and this license was provided by global prime,and issued to fxethos.
ALL of these companies at one point occupied the same physical addresses in New Zealand,singapore and cyprus.
and yet when questioned about this CMI denied all knowledge of both online4x and fxethos.which is clearly bull****.
last year online4x closed their webpage,and basically did a runner with over $300k of my money as well as a bunch of other clients funds.and now it would appear that CMI are now doing the same thing with their NOAfx clients money.
the only company out of these 5 that is actually registered in new zealand is CMI.
which is why at the time serious fraud wouldnt even investigate my complaint,and told me that they didnt think a serious fraud was taking place.apparently im hearing that they have now changed their tune here.so there is a possible negligence on their part.
this is a horrible scam and i know a lot of people have been defrauded by the main players in this.and of course the authorities are busy running around trying to cover their own asses instead of attempting to track down the perpetrators....go figure!

 

[Gian Piero]

good question.
firstly there are 5 companies inextricably linked to the whole scam
i believe CMI are the mother company,and the 4 brokers linked to them are NOA,online4x,fxethos and bullscapitalmarkets.
ALL of these brokers were provided an mt4 platform IP which is exactly the same,and this license was provided by global prime,and issued to fxethos.
ALL of these companies at one point occupied the same physical addresses in New Zealand,singapore and cyprus.

Definitely. CMI Group company structure is quite multilayered as you would imagine for a typical international scam, whose ownership and officers crisscross continuously. CMI Group holds various same-name child companies in several jurisdictions (New Zealand, Singapore, India, Cyprus and possibly Malaysia) and is ultimately controlled by three people only: Abdul Rasheed, Seeni Jahangir Ghany and Karthik Subramanian. The company claims to do business in other financial niches (namely Private Equity & Investment funds, Immigration Advisory services, Debit Card solutions, Hotel & Real Estate management and Financial Concierge services)to appear plausible but actually they move around like grasshoppers defrauding unaware FX clients while exploiting the law system weakness. All NoaFX back-office forex activities are run out of Chennai, India, under Mr Subramanian’s supervision.

 

[1wildhorse]

Definitely. CMI Group company structure is quite multilayered as you would imagine for a typical international scam, whose ownership and officers crisscross continuously. CMI Group holds various same-name child companies in several jurisdictions (New Zealand, Singapore, India, Cyprus and possibly Malaysia) and is ultimately controlled by three people only: Abdul Rasheed, Seeni Jahangir Ghany and Karthik Subramanian. The company claims to do business in other financial niches (namely Private Equity & Investment funds, Immigration Advisory services, Debit Card solutions, Hotel & Real Estate management and Financial Concierge services)to appear plausible but actually they move around like grasshoppers defrauding unaware FX clients while exploiting the law system weakness. All NoaFX back-office forex activities are run out of Chennai, India, under Mr Subramanian’s supervision.

interesting.abdul rasheed and karthik subramanian are names i am completely familiar with but never heard of seeni jahangir ghany before.who is he?

 

[Gian Piero]

Seeni J Ghany is allegedly NoaFX's Head of Sales and Business Development and, not surprisingly, also FxEthos's liquidator. Ethos Capital Limited (whose FxEthos is part of) has been put into liquidation in 2013 yet, despite FCA's and FMA's warnings, has been allowed to carry on business undisturbed since then. Both NoaFX and FxEthos clients funds are ultimately paid out to Capital Market Investments Limited, regardless of those two companies (CMIL and ECL) have officially nothing to do with each other.
Even less surprisingly, FxEthos (Ethos Capital Limited) holds zero assets and faces only a single petitioner creditor for a tad less than 1M funds - a mysterious "The Gold Treasury Pte Limited" Singaporean private company. Mr Ghany's liquidator office must have been quite a smooth job as he managed to recover zero funds to date while The Gold Treasury Pte Limited still acts as a convenient front-runner to block any possible subsequent petitioning creditor.