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  1. Scam Investigations Committee

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    We the members of the Scam Investigations Committee of the Forex Peace Army have deliberated on all the evidence available to us and have reached a conclusion. It is our opinion that...

    FPA member Aladar complained to the FPA in October, 2010 about problems he had been having withdrawing funds had with OneCorpFX, aka One Corporation Forex Financial Group aka OCFX. In July, he was initially told that his account was being transferred to eForex. Then he was told that he needed to withdraw his money from OneCorp and re-deposit it at eForex. He submitted a withdrawal request. That should have ended the issue.

    The money didn't arrive. In August, Aladar reports that OCFX claimed the money was with Boston Technologies. Later, they claimed to be preparing a lawsuit against Boston Technologies. Aladar contacted Boston Technologies and they replied that One Corp's claims were false.

    FPA Investigator Ken asked Aladar to email OneCorpFX, their lawyer, and Boston Technologies. At first, there was no response. Then Boston Technologies contacted the FPA and explained that the original message sent to Aladar was still correct. Boston Technologies did not have the money and OCFX was trying to pass the buck.

    OneCorpFx continued to ignore emails from the FPA and Aladar. They provided no evidence at all that Boston Technologies had any money belonging to OneCorp clients. Since the money was originally placed with OneCorpFX and that company refuses to provide any additional information to Aladar or the FPA, we have no choice but to accept the version of events as told by Boston Technologies to be true. We find that OneCorpFX bears full responsibility for returning Aladar's funds.

    Failure to return money legitimately owed to traders is the FPA's first definition of scam. In this case, One Corp FX accepted money from a trader, refused to return it, and refused to further discuss the issue after being confronted with information at odds with their story.

    Under these circumstances, OneCorpFX.com has forced us to declare it to be a scam. We offer OneCorp the opportunity to have this scam finding lifted by meeting these requirements. First, the company must return all client money. If any client money is held by any other company, it is OneCorpFX's responsibility to recover those funds. Second, OneCorpFX must explain why they refused to communicate with their client over an issue this important.

    OneCorpFX is hereby blacklisted by the Forex Peace Army. We urge traders not to do business with this company. For those who already have accounts there, we recommend that you attempt to withdraw all funds as quickly as possible. If you encounter any trouble with this, we recommend you file fraud complaints with the authorities..


    We wish thank FPA Investigator Ken for his efforts on this case. We thank Boston Technologies for contacting the FPA to discuss this case. We extend our regrets to FPA member Aladar as well as any other clients of OneCorp who can't access their funds.



    Discussion Thread for this Scam Finding

    Aladar's original complaint against One Corp FX

    FPA Review Page for OneCorpFX
     
    #1 Scam Investigations Committee, Nov 10, 2010
    Last edited: Nov 10, 2010

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