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Revealing one of the largest networks of FX-SCAM online

Discussion in 'Scam Alerts' started by Javier Keeth, May 27, 2010.

  1. Javier Keeth

    Javier Keeth FigFx Representative

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    Hello Readers, Hello FPA,

    Introduction:
    FIGfx, has started an independent investigation around three Iranian clients, who seemed to be doing something illegal over on our platform. After finishing the investigations and collecting the information needed, we decided to share this information to give other brokers a hint, on checking their systems for possible links to this issue.

    THIS IS AN E-CRIME INVESTIGATION REPORT:
    This report is posted to the public here, giving people and other broker representatives a lead on how to detecting such violations. This investigation might contain technical information that only specialists might value, but still take a look to know how to protect yourself against such activities.

    Involved Violations:
    - Collective Investment Scheme (aka, HYIP)
    - Identity Theft
    - Document Forgery
    - Money Laundering

    Please notice that this in no way reflects any intention/involvement by the brokers themselves, the brokers listed above where used as a vehicle to perform the illegal actions.

    Major Suspects:
    - ************* *************, *********** (Removed due to revealed updates)
    - Hamed Arayesh, Tier-1 Affiliate Node
    - Ali/Mohammad Ghasemi Beirami, Trader

    Used Business Names:
    - AlmaHostCo, Iranian Hosting Company, owned by Arayesh
    - FXCompany Iran, IB for many brokers owned by Beirami

    Step #1: Collecting Funds:
    Arayesh, is/was responsible for HYIP websites all over the internet such as Argusfund.biz, vegamex.biz, argustrust.com, lariox.com, and many others.

    The websites were put online to collect funds (mainly LR, and WMZ) from people in Nigeria, Indonesia and other countires. The HYIP websites simply disappeared as usually happens with such websites.

    Money was collected by accounts U*90**28 and U30*42** on libertyreserve, U*854*07 on Perfect Money, and three more accounts on StrictPay that were registered illegally using forged documents of:
    a) Stephen C. Vogt
    b) Bart McDade

    Step #1 Comments
    We have full prooves, emails, logins, transactions, screenshots, etc.. of everything related to our above accusation. Authorities willing to go further with this investigation are welcome to contact us directly, or through the FPA official representatives.


    Step #2: Laundering The Money into Iran:
    The scheme used was actually simple, and consisted of two main steps:

    a) Trading on Many forex brokers:
    The suspects opened several forex trading accounts on many broker platforms such as those mentioned above, they hedged their positions among platforms so that one always loses, while the opposite always win. This way, they could at least provide legal statements of their source of money as profit from forex.

    b) Manipulating FX Affiliate Programs
    All opened trading accounts were opened under an affiliate account, which was earning commissions (rebates) for the introduced clients. This way, they can maximize the return of the invested money on both losing, and winning accounts mentioned above.

    Step #2 Comments
    We have all names, numbers, logins, etc.. of all accounts opened on most of the brokers we mentioned above in relation to our above accusation. Authorities/Official broker representatives willing to go further with this investigation are welcome to contact us directly, or through the FPA official representatives.


    --------------------------------

    Step #2 above, was not as easy as you might have understood.
    To make big commissions, and to hide what actually is going on, they needed many accounts and many different names to use in their trading. And this is where their IB manager, gets in the deal.

    The suspects above, introduced themselves as introducing brokers to many brokers including ourselves, and promised up-to 0.8--0.9 pip back of each pip they earn.. On average, this is double what you usually get in the field.

    People of course, got interested, and started opening accounts. Guess what happens next?

    - Comes XXX YYY, and asks them to open an account for $100 or whatever at FIG for example..
    - They ask for the documents to verify the account

    The documents then are used to open several accoutns, on many other brokers without the real owner's approving or even knowing that he owns an account at other brokers. They pour their dirty money into those accounts and start moving their vehicle.

    --------------------------------

    Conclusion of FIGfx:
    FIGfx, unfortunately, had to suspend over 90 accounts from Iran, until further investigation is completed. We understand, that some innocent traders might be affected, please be assured that your account will be replenished and ethically compensated if it appears that your account is in noway related to this issue.

    Conclusion to Traders:
    Please be sure of your IB's identity before sending your documents. Please be aware that with those 2 simple documents, anyone can register an offshore company (not just a forex account) and be transporting whatever without you even knowing about it. If it is a MUST to submit documents, send them directly to your broker. There is no logical need of you sending your document to any third parties.

    Attention FPA:
    We tried to give you a hint by email about what's going on but you maybe were a little busy. We have posted this investigation here anyways as we strongly believe fellow traders as well as brokers will benefit from knowing this information.

    Attention Brokers:
    We have information about the accounts opened on your platform, including names, emails, account numbers and some more information (in some cases). Please contact us directly or through the FPA if you are interested to get rid if the accounts on your platform also.

    Conclusion to Cheaters:
    Get a life!
    To run a forex brokerage firm, means going through million such cases daily. Whenever you think you're the smartest one around, press ctrl-z.... think again.
    Try poker instead. Forex needs a working brain!

    --------------------------------

    Legal Disclaimer:
    FIGfx, Me personally, FPA, Mentioned Company Names; do not consider any of the mentioned persons, companies guilty of any rendered facts, unless a verdict is issued by a court of law. The above scenario was constructed upon a 45-days investigation, and only assumes, that facts were connected the way they were described.

    Best wishes, Javier
     
    #1 Javier Keeth, May 27, 2010
    Last edited: Jun 15, 2010
  2. ali mohammad ghasemi beir

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    figfx is scam broker
    This will soon clear for all
    Everyone can benefit to the broker to sign theft are installed thereon
    If someone wants to better understand the subject can request an account from a broker and trader interest in it and fire and withdrawal account is still active

    However, the broker is a pip Aspryd and a pipe in front of it to ib rebats paid was not expecting more than this

    However, the brokers who named except broco in figfx , and Prime, and I do not have any account, and I do not know how the investigation was conducted
    Of course the second day of my account due to gains in broker Fyq get grabbed even block the broker is not willing to pay money, let alone the principle of profit
    Now you judge who is a thief
     
  3. Javier Keeth

    Javier Keeth FigFx Representative

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    Mr. Beirami,

    This thread was not started to discuss anything with you in public.
    If you are so sure of your integrity, please feel free to visit your lawyer and file a legal case against us.

    Take in notice that when i said "we have full and enough evidence", I was sure of what i said. We do have enough evidence to make sure you never popup using a stolen identity or forged document again.
     
  4. fx_lavizan

    fx_lavizan Recruit

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    Thank you Javier Keeth for the Disclosure
    We believed that there are so many iranian people in recent forex scamming progress
    You can see forum sarmaye and see there are so many Plaintiff from Prime4x Ibs in iran there are believe Prime4x's Ibs make rebates with expert on many accounts and try to cash the rebates with get New clients
    Now they say prime4x scam us and we can't get your money till the prime4x get our money
    You must know first Major Suspects Claim that he is prime4x IB and have many clients
    However , there are so many reason that you are right !
    We are gald to will see more Document and proof from you
     
  5. M.Masiha

    M.Masiha Recruit

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    I'm not owner of Samanexchange & now i'm working with prime4x without any problem.I'm waiting for document from you.
     
  6. Javier Keeth

    Javier Keeth FigFx Representative

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    Hello and thanks for your comment,

    If FIG is one year old, Prime is probably 3 or more. So logically, they've seen and dealt with such cases and still, as you can see, is managing to compete and exist in today's markets.

    If Prime was to scam someone for their $100 or whatever sum of money, they would have disappeared long ago because scammers have a short life period in the forex field.

    Please notice, that I am not defending prime, it's not my priority. But I do fully understand why do they hold withdrawals for long times for Iranian traders. They simply "i guess" have to do a complete detailed review of all transactions and links to each account before processing a withdrawal or whatever.

    What the Iranian traders must understand, is that they are losing credibility. I see a day coming soon when Iran -despite being a good market- will be banned by the majority of brokers for one reason.. preventing headaches.

    We were for example very surprised to see that on our FIG platform, an account existed with email fxroosta@******.com, and a name of "Amir Nourouzi Beirami" where on xxxxxxxx's platform, the same account existed with a different name "Sajjad Ferdosi".

    On FIG's platform, the account owner managed to present us with a document showing his details for verification. I assume all brokers also perform account verifications.. So let's face it... One of the two accounts, was opened with a forged ID.

    Most probably, the real owner of the email addresses asked the Beirami's/Arayesh's people to open an account at one broker, then they simply used the documents to open more accounts at different platforms without the owner knowing about it.

    Important Notice:
    A broker conducting any financial transactions with such accounts is putting their company at risk.. And this is why FIG, and Prime as far as I understood from your comment, are being called scammers. Because they simply are not working blindly as the real scammers wants them to be operating. Neither FIG, Prime, or any other broker no matter where they are registered is ready or willing to conduct business in such cases. The risk/reward ratio for a company is a nightmare when it comes to KYC procedures and possible money laundry.

    A note on the side:
    Our basic calculations shows over 20 different names and Identities are being circulated to perform the illegal actions. Again, I would like to note that we have the full name list, emails, account numbers, screenshots and etc..

    Have a nice day \ Javier
     
    #6 Javier Keeth, May 28, 2010
    Last edited: May 28, 2010
  7. Javier Keeth

    Javier Keeth FigFx Representative

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    M.Masiha,

    As you might have noticed in my original post, I've revealed lots of information about the complete scheme or work for Beirami and Araysh, and did not even mention your name in any way related to the used vehicle. Right?

    Your role, as an IB for Prime, was opening the accounts for people. This is not illegal, and this is why we did not point any fingers your way. You name was mentioned because there were lots of occurrences where your email was the originating source for all documents that were used to open the accounts.

    Yes, we also understand that they might in someway have been accessing your email for example.. but that's not something we have to deal with. The fact that you have been the source of all documents used in such manipulation leaves us no other option but to include you in our investigation.

    Thank you, and please be kind to offer any possible help if you're interested.
     
  8. Ahmed.Mosry

    Ahmed.Mosry Private

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    Figfx Details??

    Just out of curiosity were is figfx located?????????????? no contact details, no numbers!!!!!!!!
     
  9. M.Masiha

    M.Masiha Recruit

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    I forwarded this topic to prime4x.com and ask them to come here & clear everything here.
    I don't have any problem with other brokers so if any brokers has information or complain about me i ask them to post it here.

    Regards
     
    #9 M.Masiha, May 28, 2010
    Last edited: May 28, 2010
  10. Javier Keeth

    Javier Keeth FigFx Representative

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    M.Masiha,

    Prime4x has already contacted us, and we will be hopefully cooperating to solve this conflict.

    Please read my post above about yourself. As I mentioned, we have nothing against you directly. You were the source, of all documents used to manipulate the forged accounts.

    Here is an example:
    an explanation from your side of this case might help revealing more information, please be kind to share what you have about it

    On Wed, Apr 7, 2010, you sent an email to Ali/Mohammed Beirami asking him to open an account for Hossein Karimi, holder of national ID card number 170-973758-7 on prime.

    Earlier communications also included such bulk accounts:
    For some reasons, while you are supposed to be a direct IB to prime, you were passing the documents to Beirami, who used them to open accounts at different platforms, including FIG in this instance. Of course, using different emails that they registered for the same names. hossein*8*@yahoo.com for example ::redface::

    The scheme was as follows:
    - Assume someone called Ahmmed Hamed Karimi, asked for an account at broker XXX
    1- Documents were passed to Arayesh, or Beirami
    2- Arayesh/Beirami opened free emails using the patterns:
    ................ahmmedhamedkarimi@yahoo.com
    ................ahmmedfx1892@yahoo.com
    ................username_fx_numbers@yahoo|gmail|hotmail (mainly yahoo)
    3- More accounts were opened at other brokers

    To give you a hint what details we do have for each instance, this Hossien Karimi was accessed for example from server5:67.228.93.147, using a multi terminal account number 95556.

    Do these numbers and names tell you about anything?
    A Few Questions:
    - Why were you forwarding these documents?
    - Did you have a legal authorization to forward them to third parties?
    - Do you have authorization to open at our platform, for instance?
    - Are you, or the third parties involved legally authorized to withdraw profits for these people?
    - What was your profit of all this?

    ------------------------------------------------------

    Finally:
    I am sorry everybody, but I am again, not interested to discuss anything in relation to this matter with any individuals, no disrespect, no offense.

    - All accounts affected are being reviewed, almost half have been retrieved and compensated.
    - FIG is already in contact with other brokers, cooperating & investigating more.

    FIG expresses it's regret to people whose names were mentioned in this investigation. We understand that in some way, you might have no direct relation to all this battle going on.

    Please, send your documents directly to your broker, never send your documents to any third parties.
     

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