My story: I was retrenched at the end of May and had R 180 000 saved (Literally 10 years of savings!). I did a little research on short term investments and PWR Trade came up. While they had a few bad reviews, most were good ...and the investment was only $250 so I went for it. I was hoping to buy a few USD with a broker looking after me and earn a bit while being unemployed - ZAR vs USD a sure thing. Shortly after I had paid the $250, I received a call from a "dedicated" account manager, Julian. After the congratulations, he advised I could only trade if I invested a further $3000, which I duly did. (I had set aside a R 50 000 budget) He reassured me that would be it. I explained my situation as being unemployed and that this was all the money I had. He reassured me and sent back $500. I am very naive when it comes to stocks etc and did not know I was trading on a "JSE" type market.. At no time was I advised it was a risky trade environment and not for unemployed people with no money.
He then called advising we had a few wins (...and a lot of losses) He had invested too and that if I invested $10 000 he would also invest the equivalent on his side so we could make the minimum quota and get the money back. I was in tears, I refused to hand any more money over however he repeatedly reassured me that I would get it back on the 31.07.2017. I explained that I only had that money and no other money. I was unemployed, had bills to pay and was taking care of my father who has cancer. He insisted, I would be able to withdraw it again on the 31.07.2017 ....so sent the money over. I asked for the confirmation on the withdrawal in writing. What I received was ""according to our policy you can withdraw your profits after our trading sessions"
To cut a long story short, when I tried to get the money back, all I got was that he had another sure thing and he had also invested money, which had not come to fruition (was done in the form of a "bonus") I was then desperate...... I had lost all my savings!
In an absolute state, with no sleep and feeling ill to the point of continually vomiting, I desperately tried to recover at least "something" I handed over $1000, $1000 and $2000 to get the money back, even withdrawing from my credit card.
Today Apple went well and $12750 was made. When I tried to withdraw it, I was told he had spend $17 000 on his side and we had to go over $17 000 for me to get paid. He reinvested the $12750 an lost the lot.
I have been a manager/general manager for the last 14 years plus and do not consider myself a fool, I have lost a total of $16437 - all my savings and money in my credit card, I was manipulated and coerced through my current situation of desperation to a point where there is no return. In fact he even tried to get me to take a loan today to recoup the losses!
Is there anyway to 1. Get my money back - this is taking advantage of vulnerable people who do not know about the trading industry. 2. Preventing this from happening to anyone else in a vulnerable position.
He then called advising we had a few wins (...and a lot of losses) He had invested too and that if I invested $10 000 he would also invest the equivalent on his side so we could make the minimum quota and get the money back. I was in tears, I refused to hand any more money over however he repeatedly reassured me that I would get it back on the 31.07.2017. I explained that I only had that money and no other money. I was unemployed, had bills to pay and was taking care of my father who has cancer. He insisted, I would be able to withdraw it again on the 31.07.2017 ....so sent the money over. I asked for the confirmation on the withdrawal in writing. What I received was ""according to our policy you can withdraw your profits after our trading sessions"
To cut a long story short, when I tried to get the money back, all I got was that he had another sure thing and he had also invested money, which had not come to fruition (was done in the form of a "bonus") I was then desperate...... I had lost all my savings!
In an absolute state, with no sleep and feeling ill to the point of continually vomiting, I desperately tried to recover at least "something" I handed over $1000, $1000 and $2000 to get the money back, even withdrawing from my credit card.
Today Apple went well and $12750 was made. When I tried to withdraw it, I was told he had spend $17 000 on his side and we had to go over $17 000 for me to get paid. He reinvested the $12750 an lost the lot.
I have been a manager/general manager for the last 14 years plus and do not consider myself a fool, I have lost a total of $16437 - all my savings and money in my credit card, I was manipulated and coerced through my current situation of desperation to a point where there is no return. In fact he even tried to get me to take a loan today to recoup the losses!
Is there anyway to 1. Get my money back - this is taking advantage of vulnerable people who do not know about the trading industry. 2. Preventing this from happening to anyone else in a vulnerable position.
