I too just had my account closed. I have been requesting a withdrawal for almost two months but no money was transferred to my account. So, just today, I decided to look on the net for Mark Rice and Sparenfx and found this thread. I actually found a number for him. He operates under Deposit Capital 2700 Post Oak Blvd #2375 Houston, TX 77056 phone: 713-242-1956. I called it and spoke with Mark Rice. He was not surprised that I mentioned Sparenfx BUT claimed that they owe him money too. He also claimed that he was not one of the owners or had any part in the owenrship of Sparefx...!!! Has anyone here started any legal action against him? I'm in Canada by the way.
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Problem SparenFX
- Thread starter wlthintl
- Start date
I am having an issue with a company
sparen must pay
Private
- Messages
- 30
This guy is a crook and a liar.
I'm in Europe and I don't know what to do.
It seems the funds are lost but I'll be happy if he goes to jail. Only to prevent him to start a new scam again.
sparen must pay
Private
- Messages
- 30
The problem is that SparenFX was located in Panama.
Why would the cftc study our complaints ?
Pharaoh
Brigadier General
- Messages
- 20,308
The CFTC is taking a very dim view of offshore companies messing with US traders. IC3.gov feels the same way. Since Mark Rice is in Texas and seems to be involved, that also makes it even easier for the US Government to take action.
You could just throw up your hands and say "No one will help" and not bother to send any evidence to the authorities. Of course, that's what scammers count on over 95% of their victims to do.
You could just throw up your hands and say "No one will help" and not bother to send any evidence to the authorities. Of course, that's what scammers count on over 95% of their victims to do.
Lou nguyen
Recruit
- Messages
- 12
Question for Pharaoh
Hello Pharaoh
All of investors in Sparenfx are non-American. Sparenfx does not take American citizens.
Is it possible for a foreigner ( non-American0 to file a complaint directly to CFTC against an American like Mark Rice especially the CFTC already has a case against him ( CFTC against Mark Rice and his company Financial Robotics)? I think this is part of the reason all of Sparenfx investors has not done any real action against him yet.
Thanks
Hello Pharaoh
All of investors in Sparenfx are non-American. Sparenfx does not take American citizens.
Is it possible for a foreigner ( non-American0 to file a complaint directly to CFTC against an American like Mark Rice especially the CFTC already has a case against him ( CFTC against Mark Rice and his company Financial Robotics)? I think this is part of the reason all of Sparenfx investors has not done any real action against him yet.
Thanks
new probable victim
Hi,
this is the story:
I had two accounts at SparenFx from 2010.
One of them I didn't use from March 2011.
Other was regularly (apparently) operative and traded by my Account-manager until 11 September 2011.
For the firs one I regularly had monthly statement from SparenFx until 1 August 2011.
For the second one daily and monthly statement was sensed from SparenFx until 11 September 2011.
Now, I’ve tried to contact SparenFx using all emails address and I've sent them withdraws request in order to close the accounts.
Until now I had no answer.
Just now (quite late unfortunately) I've found this thread opened at FPA.
Unfortunately, from Italy I have difficulties to manage individually the problem.
I’m ready to give any help and participate in any collective initiative oriented to face the problem and get back our money.
Hi,
this is the story:
I had two accounts at SparenFx from 2010.
One of them I didn't use from March 2011.
Other was regularly (apparently) operative and traded by my Account-manager until 11 September 2011.
For the firs one I regularly had monthly statement from SparenFx until 1 August 2011.
For the second one daily and monthly statement was sensed from SparenFx until 11 September 2011.
Now, I’ve tried to contact SparenFx using all emails address and I've sent them withdraws request in order to close the accounts.
Until now I had no answer.
Just now (quite late unfortunately) I've found this thread opened at FPA.
Unfortunately, from Italy I have difficulties to manage individually the problem.
I’m ready to give any help and participate in any collective initiative oriented to face the problem and get back our money.
Lou nguyen
Recruit
- Messages
- 12
For Adria
Something is very weird...here. Adria, did you say that your account is traded until August.
As far as I understand.. Sparenfx sent the retail exit form to retail investors to fill in the forms to exit in May, 2011... So it is weird that your accounts was traded until August. Are you institutional investors?
May I ask who is your money managers? The one who trades your accounts. Did you talk with your money manager yet? To find out if happens to all of the investors who have the money with your money managers?
I filled in the retail exit form since May, and I have not received anything so far.
Lou
Something is very weird...here. Adria, did you say that your account is traded until August.
As far as I understand.. Sparenfx sent the retail exit form to retail investors to fill in the forms to exit in May, 2011... So it is weird that your accounts was traded until August. Are you institutional investors?
May I ask who is your money managers? The one who trades your accounts. Did you talk with your money manager yet? To find out if happens to all of the investors who have the money with your money managers?
I filled in the retail exit form since May, and I have not received anything so far.
Lou
for Lou
My last communication with SparenFX was with Liz Gonzales the 3/3/2011. (I asked for some lost daily statement and some times later she sent me them)
I’ve never had formal communication of retail exit from SparenFx nor I’ve compiled any retail exit form.
I’ve just had knowledge of it occasionally viewing SparenFx Web-site.
My first account was traded, as MAM-account, by traders of Mam-Managed-Forex-Accounts.com, but, due to a margin-call, they stopped trading it in February 2011. After that I’ve never trade anymore this account (due to it’s very low balance). Anyway I received the last monthly statement for this account the 1 August 2011.
The second account was traded as mam-account by Best Invest Corporation (BIC) until 11 September 2011 and I’ve regularly had Daily Statement from SparenFx until this date. After that the account was apparently abandoned, leaving many open trades.
At moment I can access this account using Metatrader terminal that looks working properly from my side and I’ve managed open trades by myself (It’s looks strange as must be a mam-account!!!).
Until now I’ve not been able to contact BIC in order to know anything about potential trouble with SparenFx.
Just few days ago I’ve sent withdraws request to SparenFx for both my accounts.
My last communication with SparenFX was with Liz Gonzales the 3/3/2011. (I asked for some lost daily statement and some times later she sent me them)
I’ve never had formal communication of retail exit from SparenFx nor I’ve compiled any retail exit form.
I’ve just had knowledge of it occasionally viewing SparenFx Web-site.
My first account was traded, as MAM-account, by traders of Mam-Managed-Forex-Accounts.com, but, due to a margin-call, they stopped trading it in February 2011. After that I’ve never trade anymore this account (due to it’s very low balance). Anyway I received the last monthly statement for this account the 1 August 2011.
The second account was traded as mam-account by Best Invest Corporation (BIC) until 11 September 2011 and I’ve regularly had Daily Statement from SparenFx until this date. After that the account was apparently abandoned, leaving many open trades.
At moment I can access this account using Metatrader terminal that looks working properly from my side and I’ve managed open trades by myself (It’s looks strange as must be a mam-account!!!).
Until now I’ve not been able to contact BIC in order to know anything about potential trouble with SparenFx.
Just few days ago I’ve sent withdraws request to SparenFx for both my accounts.
