Sparen FX Scam
Hi Folks,
This would be my first post here, though Ive long known of the FPA.
I am the trading director for
www.new-millenniuminc.com, and an IB for Sparen FX, know the Cayo fellas well and have had a direct line to Mark Rice.
I can confirm that withdrawal requests are pending, and have been for some time. The lines of communications have been cut off in more recent times and I simply dont receive repsonse to my email, my clients emails, nor skype messages.
The line that funds will be paid later is reason for serious concern, because in my experience there's only 2 reason you dont get your money:
1) Its been lost, due to reckless trading using your unseggreated funds OR
2) Mark Rice and co have decided to take it..and it would be millions.
(possibly a combo of both is more likely)
The reality of this situation is that Mark Rice has your money, and he's not giving it back.
If this was legimate - you can be certain that Sparen FX would duly communicate with its clients - not provide such limited, spasmodic communications and no real reasons. They are just buying time, and putting distance between this scam and where the funds are headed.
You can almost be certain that the CFTC can do little to nothing about it...........anything you allege is just that, an allegation and unsubstantiated at that. So, if you feel compelled to report to CFTC ensure that you have the case laid out for them - do not be so naive to think that all it requires is one phone call to set the dogs loose.
For folks relying on the CFTC or the US jurisdiction to do anything - I think you are unfortunately kidding yourselves and will be sadly dissapointed - keep in mind you (like me, my clients) decided to send your funds outside of the US juridiction into the Panamanian one. I have been in the exact same situation before (and had thought I was savvy enough that these days were behind me).
I believe one plan on the table is to collect 1M of complaints, and then a certain ex-FBI agent and his team can work on bringing him swiftly to account via the criminal system - specifically keep lawyers out of the mix. I doubt any of you reading this will see a cent, I believe Rice is savvy enough to ensure the funds have been well hidden.
The only options that I think would have any real affect to compel mark Rice to do the right thing - are ones that exist outside the relm of the laws of the land.
I was supplied a clear accurate copy of his passport recently - if anyone wants a copy just ping me and I'll send you a copy. If you want to be a part of the 1M in complaints then ping me as well and I will pass over your details to the folks that organising this.
If anyone can obtain his residential address - post it here for all to see or ping me with it and I will.
I dont take kindly to my clients or I getting ripped off.
Take good care folks - only deal with brokers in reputable juridictions and insist on account seggregation and you'll avoid these scams.
Regards, Adam Liddiard
Trading Director
www.new-millenniuminc.com