Obt8.com is a forex scam based in Hong Kong

Pharaoh

Colonel
Messages
20,172
You seem knowledgeable. Please allow me to ask a couple of questions.
- What are the chances the bank will get some of the money back after reporting the fraud.
- What are the chances of getting the money back if I hire a lawyer in Hong Kong to sue them in HK court?
- They left a negative balance on my account and asks me to pay the debt. Can I just ignore them since they are fraud? Will they come after me with law sue or collection or other ways? I live in U.S.

Thanks.

If you don't complain, you have exactly a 0.00% chance of recovering any money.

Providing as many details as possible to your bank, the bank you sent the money to, the cyber/online fraud police, and to the financial regulators in your country, the equivalent police and regulators in the destination country and any other country gives you a chance that is greater than zero. The Hong Kong police have managed to confiscate quite a bit of scammed money which will be returned to the victims.

Your exact odds? Impossible to calculate. Imagine 2 people lose $10,000 each to 2 nearly identical scams operating in the same set of countries. Person 1 complains quickly to all the right places and provides very detailed evidence. Person 1 also finds other victims online and encourages them to do the same, even providing tips on what evidence to include.

Person 2 finally gets around to complaining months later and spends time online crying about how police and regulators are totally useless. This discourages a number of other victims who then don't file reports.

A regulator or police fraud investigator only has so much time and energy to investigate. Imagine this person given the choice of a thick folder full of carefully thought out fresh evidence from a large number of victims vs. a thin folder with some evidence from a few victims and much of the information is out of date. The thick folder will take a little longer to go through, but saves large amounts of investigative time by providing many useful facts. If there is only time to pursue one case, which scam will be easier to for the investigator to hunt down and have higher odds of successfully confiscating stolen money from?


If scammers try to come after you for fake debt, won't you be looking forward to seeing them walk into a US court where they can be questioned under oath?

In the meantime, check IRS regulations regarding whether or not money lost to investment fraud is tax deductible. I think it can be, but it's not an automatic deduction. I believe there are specific rules of what exactly qualifies and what evidence you have to provide.
 

earthbean

Recruit
Messages
7
Seems you got trapped in Honey scam, You have to search properly before you let them have your money.

Now basic questions

When and how you deposited the money?
Hi,

Do you know if traderdefenseadvisory.com is a legit fund recovery operation?

Thanks.
 

PK494

Sergeant Major
Messages
573
Hi,

Do you know if traderdefenseadvisory.com is a legit fund recovery operation?

Thanks.

Beware of looking for recovery companies and law firms promising you that they can help you get back your money because 99% of them are just another scam. Do not proceed if they ask you for money or sign anything.

I understand that it sucks to get played by these crooks but the only way to get them is to report them and work with authorities. You might have a chance to get something back if authorities get a hold on them. You have helped a lot of potential victims from falling into this trap by sharing your story.

Good luck bro!
 

RahmanSL

Major
Messages
2,867
You seem knowledgeable. Please allow me to ask a couple of questions.
- What are the chances the bank will get some of the money back after reporting the fraud.
- What are the chances of getting the money back if I hire a lawyer in Hong Kong to sue them in HK court?
- They left a negative balance on my account and asks me to pay the debt. Can I just ignore them since they are fraud? Will they come after me with law sue or collection or other ways? I live in U.S.

Thanks.
It's always upsetting to read yet another victim to common scams created by the faceless borderless internet age.

Leaving a false negative balance on your trading account and then pressuring you you pay up with threats of legal action is the scam spin-off to extract more money from you before the last good-bye.

You should have absolutely nothing to fear about legal lawsuits from them as they are not legitimate in the first place and, as that Ruler-of-Upper-and-Lower-Nile has stated, "If scammers try to come after you for fake debt, won't you be looking forward to seeing them walk into a US court where they can be questioned under oath?"
Furthermore, we can be very sure that the scammers are not registered and regulated by USA's financial laws and is therefore illegal to accept USA citizens as clients.

I would not give too much optimism in recovering your money as at best, there is probably some hope.
Take/chalk this up as a learning lesson on your forex journey which will be long and winding with many dead ends with no short cuts. BUT don't get discourage because once you have navigated the numerous pitfalls and learn how to trade properly, there is money to be made in the huge forex market.
 

RahmanSL

Major
Messages
2,867
Beware of looking for recovery companies and law firms promising you that they can help you get back your money because 99% of them are just another scam. Do not proceed if they ask you for money or sign anything.

I understand that it sucks to get played by these crooks but the only way to get them is to report them and work with authorities. You might have a chance to get something back if authorities get a hold on them. You have helped a lot of potential victims from falling into this trap by sharing your story.

Good luck bro!
Agreed 101% as thorough investigation and legal process takes a lot of money & time especially those involving cross & multiple international borders which often times land up with only a virtual office somewhere. That makes legal action impossible to pursue.
 
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