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Panamoney - Help in the hunt for the missing cash

Discussion in 'Scam Alerts' started by Scam Investigations Committee, Jun 1, 2010.

  1. Scam Investigations Committee

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    Panamoney - Help in the hunt for the missing cash​


    Panamoney was one of the longest running HYIPs listed in the FPA's reviews. Some people complain that HYIPS shouldn't be listed. The problem is that many HYIPS claim to make their money trading forex. New traders can easily mistake these for managed accounts. The FPA does it's best to warn people away from this sort of thing, but people keep placing money with these schemes.

    Panamoney went to great efforts to convince people that the profits came from forex trading. It is even possible that some of the money came from this. Everything went well until April 2010. Then, there were multiple reports of accounts being wiped out by hackers withdrawing the money. Not long afterwards, the website went down and no one has reported successfully contacting Panamoney since then.

    PeteFX was the first to file a formal Scam Ticket with the FPA. He reports that Panamoney stopped trading for 10 days in April,then claimed to trade for 2 days before the site closed. FPA Investigator Gerard took the case. All attempts by PeteFX and Gerard to contact Panamoney by email failed. We see no other choice but to declare this company to be a Scam.

    So far, not one person who has complained to the FPA about a HYIP has ever managed to recover a single dollar. Even active HYIPs have taken money and refused to return money owed to traders. When a HYIP disappears, it's usually gone for good. The FPA has received a number of complaints about Panamoney and a few other HYIPs that failed recently, but PeteFX is the only one to go to the effort to follow the procedures for a Scam Ticket.

    PeteFX is doing something else. He's trying to go after the bank that handled the money. This might be a way to finally unmask some of those behind one of these HYIPs. We encourage all those who had money with Panamoney to report in this thread. Help PeteFX hunt them down.

    We wish PeteFX the best of luck on his hunt for these scammers.



    FPA Scam Finding against Panamoney.net

    FPA Review Page for Panamoney

    Warning signs of HYIPS and other Ponzi type scams
     
  2. bretbott

    bretbott Recruit

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    Come along with us

    I too am with Pete. If anyone out there is interested in pooling together to hunt these guys down and see that justice is served please let us know. So far we have four people but we would like 400. Please respond to this thread or email me at bret(at)bluehorizoninvestments(dot)com. Thanks.

    Bret
     
  3. Chopperbandit

    Chopperbandit Recruit

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    Willing to help for Panamoney

    hi fellow squaddies- there are a number of us here in NZ who were in Panamoney and enjoying decent returns. :)

    We were not worried when the site stopped trading for a period of time as it was well publicised in advance and something that they have done in the past when upgrading. we did have some cash withdrawl during the short uptime before it closed completely. :shocked:

    I have done some basic investigations and the Panama government has a unit that are supposed to regulate companies like panamoney. i have not found a contact address yet for the unit. :nerd:

    current info on panamoney shows that it has moved to an address in Zimbabwe. :mad:
     
  4. Kiwisam

    Kiwisam Recruit

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    Panamoney

    Hi All

    I was also in Panamoney and lost the lot - not a single dollar back!!

    Very happy to put my name to the list and help in anyway I can. I know they say it is a game but to just pull up stakes and disappear with all that money - I'd like to see them front up to all the folk they ripped off.

    Cheers from Australia
     
  5. jtc

    jtc Recruit

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    I was burned also by Panamoney. Would like to see them pay every penny back to everyone they scammed
     
  6. blue dancer

    blue dancer Recruit

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    maybe they just lost the money

    Hey if you traders ever lose money yourselves you would understand that maybe some of the scams you talk about are where the traders just lost too much to continue. It's a hell of a game trading OPM, not an easy task. If they were set up in Panama what would you expect? They knew how to protect themselves. Why go to jail because everyone sending them money is also greedy? If you want ligit investments don't send your money to offshore jurisdictions... anyways having someone else trade forex for you is not an investment. It's gambling. Here's a rule: Own real estate, have a retirement fund, have investment capital. Take no more than 25% of your investment capital and have others trade it for you. If you can't stomach losing, don't bother. Buy ONE robot like Megadroid and leave it alone for a year, you'd be better off.
     
  7. daniel1220

    daniel1220 Recruit

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    I was scammed by Panamoney. Had good returns on my $1000 investment - was up to $5000 when it disappeared. I would like to see all money returned.
     
  8. fxithri

    fxithri Recruit

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    Hello, I am loss money with this bad panamian company.
    but how we can to recover this money?
     
  9. kubera933

    kubera933 Recruit

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    Hello,

    I am Eric from Belgium.
    I also lost a few bucks with Panamoney, and a friend of mine a few hundreds.
     
  10. kheme

    kheme Recruit

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    wow

    and i was seriously considering panamoney. but that was long before i had already out $500 in genius funds, and now they are gone. safe to say... most, if not all HYIP are scams? :unhappy:
     

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