Possible Scam - Fast Options

[Dazza]

On the 14th January 2016 I sent an email to the account manager of Fast Options, from an alternate home email address, acting as a potential new client with some money to invest. Low and behold I received a reply email a couple of days ago. In my email (see below) I raised a number of questions prior to my investment:-

"Raquel.

I recently came into a large amount of money and I'm looking at spreading the money around different investments. A family friend mentioned fast options as a possible place to invest. I'm looking at anywhere of up $50,000 (AUD). But they were unable to answer some questions that I had. As I'm considering investing a far amount of money hopefully you can answer some questions for me:-

1. Is fast options regulated? If so where and what is your registration number?
2. Where are you guys located? In Australia?
3. If I decide to go with you are my funds segregated from fast options and other investors?
4. How can you guarantee "winnings"? Do you have liquidity providers? If so who are they?
5. I've noticed on your website that withdrawals take about 3 - 5 days? Is that guaranteed or can there be delays?
6. How can I deposit? via credit card?

I'm very interested in fast options but I what to make sure my money is safe.

I look forward to hearing from you soon."

The reply to my questions were:-

"Hello,
First of all apologize for late response. Also thanks for taking an interest in our program. I will try to answer as prompt as possible.

1) We are regulated in New Zealand
Name: FOREXER LIMITED
FSP number:
FSP298426
http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP298426/12.do

2) We are mainly located in Israel

3) Yes of course. Each account is independent.

4) I will try to be honest as possible. There is no such a things as guarantee in this or any other business. There is always potential risk of loss. Luckily, our system proved as very reliable. So, being said that we never experienced any catastrophic outcome. At worst you will get back your investment. However potential is huge and more likely is that you will be satisfied with our service.

5) Normal waiting time is 3-5 days. However sometimes it might takes longer due to the weekends, holidays and banking security measures.

6) Only Bank Wire

If you have more questions do not hesitate to contact me.
Sincerely,
Raquel"

I have accessed the attached link and it does appear that they are regulated in New Zealand. My next step will be to contact the NZ regulator to advise them of what has transpired.

I love the answer to question 5 about how long it takes for withdrawals to be processed. Given I've been waiting since 30 November 2015, 3 - 5 days is quite laughable.

I also sent an email to the officer at the Australian Federal Police who initially contacted me when I made my initial deposit. The officer advised me that I wasn't the only person who he is working with regarding this scam and that there were a number of Australians in the same boat. I agreed to lodge a police report which probably will not get my money back but at least I feel I'm doing the right thing which may stop Fast Options.

 

[Pharaoh]

CTFC, New Zealand regulaors, Australian police and regulators, eConsumer.gov (post the complaint number when done) and anyone else you can think of.

 

[Dazza]

Well look what's been loaded on the Fast Options website:-

NOTIFICATION FROM RAQUEL Last updated 2/9/2016 3:49 PM

[2/4/16, 7:17:19 AM]
Raquel Adkins: Well it ended up that supposedly our license is not good enough, but in reality we (FO) are just collateral damage
Anyway we are not able to do business anymore because we are on the black list now thanks to Aussie banks and government. At least they promised that they will return all of the funds back to our clients.
Regarding deposits that are made on the US bank accounts, only Lord knows what is going to happen

[2/4/16, 7:23:15 AM] (3rd Party Source):
Raquel, I appreciate you getting back to us. However, you would think that we would get trade profits too up until license lost. Lastly, how do people go about requesting their money back?

[2/4/16, 7:24:22 AM] Raquel Adkins:
I don't think so. Now it is all up to the banks in Australia and how quickly they will send money back to the clients. For
the ones who deposited money in the US banks they will have to wait little longer because money is still frozen, and they are taking their time.

[2/4/16, 7:26:58 AM] (3rd Party Source):
So you are saying that they just sit back and do not have to do anything? On the US accounts, will you please keep us posted as people will want to know? Thanks for communicating -

[2/4/16, 7:35:21 AM] Raquel Adkins:
When we asked bank representatives in Australia what should we tell our clients, they said to us that they will return every single penny, just to sit tight. Unfortunately we do not have any control over it.

Don’t want to run away.
People think that I scammed them which is not true. *********************************

[2/9/16, 3:07:56 AM] Raquel Adkins:
Major problem was with liquidating banks and fact that because of them our level of independency was very little. We had to collaborate, share accounts with other broker houses and we ended up being collateral damage because of illegal practices of others

Our license was just fine, but they found some ridiculous loophole and they literally forced us to shut down the operations. Now we still have our trading license valid. That is why trading is still going on. Software license expires in May so we can trade until then with what we got.

Thing is that 95% of the accounts are being supported with our funds, since vast majority of deposits never reached our end. As you know funds got stuck in the bank (frozen)

Now it is up to the bank representatives to return the funds back to the clients as they promised

That is the latest update.

 

[Pharaoh]

What an amazing load of BS. They got busted and are trying to sneak off with all the money they can.

 

[moononk]

Dazza,

I invested a small amount of money in Elite and have experienced the same runaround. All of these websites (elite options, preferred options, etc.) seem to be tied to a Douglas Saferite from TX and ND. Here's the info from whois

Registrant Contact
Name: Douglas Saferite
Organization: Douglas Did It
Mailing Address: 1916 Pacific Lane Suite H-119, Bismarck ND 58501 US
Phone: +1.7013906595
Ext:
Fax:
Fax Ext:
Email:email@douglasdidit.com

I would recommend contacting your local FBI office

 

[Pharaoh]

And the CFTC.