Problem Prime4x - Pay your Clients Now or Go Out of Business

[alvin orrt]

prime4x may be a registered company but it's not a registered/authorized broker in cyprus or any other country

If you lost you money after December 2011, it's probably your own fault for not checking the status of this "website", coz that's what it is, just a website:

The Cyprus Securities and Exchange Commission (‘the Commission’) wishes to inform the investors that the company Prime Forex LLC. (www.prime4x.com) is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
1.It has never been authorized by the Commission.
2.Ιt is not a bank or a cooperative firm, established in the Republic and authorised to provide such services.
3.No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the abovementioned Law.
Finally, the Commission urges investors, before conducting business with Investment Firms, to consult its Web Site (Cyprus Securities and Exchange Commission) to confirm the entities that are authorised to provide investment services in the Republic.
Nicosia, 17 December 2009

So stop wining, there's nothing you can do.
My word of advice: due diligence people

 

[Pharaoh]

So stop wining, there's nothing you can do.
My word of advice: due diligence people

Due diligence is a lesson people should learn from this experience, but to stop whining and let the scammers walk away with all the money is EXACTLY how scammers get to keep scamming. If you take that attitude, financial fraudsters will just keep expanding their scams.

The people behind Prime need to be hunted down and brought to justice.

Keep up the complaints to any regulators. Keep asking your bank and the police about how to complain in your country. Post what you learn here.

 

[BenMcDui]

The next question is, if we want Prime4X out of business, how do we bring their trade server down?

 

[alanudi]

Due diligence is a lesson people should learn from this experience, but to stop whining and let the scammers walk away with all the money is EXACTLY how scammers get to keep scamming. If you take that attitude, financial fraudsters will just keep expanding their scams.

The people behind Prime need to be hunted down and brought to justice.

Keep up the complaints to any regulators. Keep asking your bank and the police about how to complain in your country. Post what you learn here.

Totally right! Foresight is great, but these were obviously scammers. It is in their business model to Trick people. They lied about their regulators, and took money from innocent investors. This isn't some "innocent mistake" on their or the customers part. They straight-up scammed and pillaged. We HAVE to fight back, or this practice will only increase.

 

[Simon Edwards]

got muliple hits back for companies registerd in Cyprus

PRIME FOREX CLIENTS LTD
PRIME FOREX FINANCIAL GATEWAY LIMITED
PRIME FOREX FINANCIAL GATEWAY LTD
PRIME FOREX LTD

Department of Registrar of Companies and Official Receiver - Search Through the Registered Organisations

We need someone in Cyprus to chase this up

 

[Dido]

I heard also that they merge with other company which mean it may solve the problem so we can wait to see what coming days will bring

But I have question what will be the case if that company bankrupt like in the past crown forex in switherland and refco in USA what happen to those two compaines
Did the clients got any funds back ,did the court charge any of the owner

We can learn from others caes to work directly on the same

 

[Pharaoh]

A merger sounds more like another delay. Don't believe it. Keep the pursuit up.

The last I heard, Crown's victims were still waiting for the ever-slow Swiss regulators to finish digging through all the records before distributing whatever money wasn't diverted. I believe that victims of Refco did end up getting back a small percentage of their money.

The faster Omari and his friends are found, the less time they'll have to spend or hide the money.

 

[Stony]

@ Dido

I was scammed a few years ago by another Swiss-registered broker named Neuimex. They got bankrupt after an investigation by Swiss authorities. After about one and a half years I got back about 25 % of my equity. So, a small hope is left for the victims of Crown Forex.

 

[Dido]

Thanks for pharaoh and stony now the image became clear so by this answers we understand that authority is the only way to get our rights back and not pic for employee or passports or phone numbers
Guys it appear for all that they r out the biz and now it is authority time and people who is waiting for fast action between today and Tom they have to understand that this may take year at least
So thanks for peace army now is a must because they kicked them out
And the role now for authority and nothing more so it is better not to waste time in collect info for useless use
This my point of view

Any other opinion

 

[Pharaoh]

Collecting information here and filing complaints are the two most useful things anyone can do.

Unlike Crown and Neuimex, no regulator stepped in to take control of the company. No one has stepped in and seized the records. The scammers are still free to do whatever they like with the cash.

Everyone with an account needs to complain to any and all government agencies that will listen. That's the only hope of getting anything done about this. Everyone with any information about Omari and the rest of the people at Prime Forex needs to post that information here. That will make it easier for government agencies to get what they need to track these people down.

There is an additional option. If some of the clients who lost larger amounts want to get together, hire someone to hunt down the owners and file civil suits against the owners of Prime, that might get some of the money back. Once again, having as much information as possible in one place would make this faster and easier.

Even if no money is ever recovered, gathering information here will make it harder for these behind Prime4x to start new scams. It will also make it easier for them to end up in jail.

Giving up is exactly what Omari, Amr, Robert and everyone else at Prime who is putting your money into their pockets want you to do. Giving up is exactly the same as saying "It's ok, I'll just sit here, do nothing, and hope that someday someone will do something about it."