Hi Pharaoh and FX Master.
Firstly thank you for running the site. It proved very helpful in setting us on the pathway to chargebacks and to finding Giambrone who we have engaged to undertake legal action. What happened ....
My wife moved home and after quitting her job to focus on supporting our son in his new school thought she would earn money from home to help get me home early. They played to her and she unfortunately trusted them. The initial story is very similar to many I read here; invest, bonuses, capital guarantees and before you know it she was in for $40,000. I found out lost it and told her to exit. She tried to...was in tears....
But there was a twist in maybe you have not seen before. They advised her the best way to get out was to invest in their hedge fund; not only would she get out but she would make the $0.5m she wanted. Lots more money in ... which she thought was just liquidity to protect the gearing on the hedge. But it all goes into the hedge.
Next thing I get a call that the hedge is going badly and I need to invest more to protect our position. I put in another large amount of cash on the basis that they increase their protection cover (big mistake) should have walked away from the investment. Whilst I dont actually think there was a hedge fund - they presented data showing all the money was lost.
I get a commitment that they will sell within 10 days and return the money - they never do - they make rules up as they go.
The individuals involved call themselves Eric Goldman, Semyon Ducak, John Anthony - who knows whether these are their real names. I have recorded calls and these guys are pretty nasty when you don't do what they ask. But this is a good thing as it clearly demonstrates they are not acting in their clients best interests.
With the money involved and a strong opinion from our barrister we will take legal action in multiple jurisdictions. What would be useful is if we can shift this to a class action - the more people the better. Any thoughts on this. If FPA could help?
I am happy to share more ..... but a bit wary making it all public.