- Messages
- 253
Rizwan Awan had a great website for Next-Consultancy. His company, Next Consulting Ltd, claimed he had solid returns, that the initial capital would protected, and that money could be gotten back quickly.
About a year ago, one of his clients complained to the FPA that withdrawal requests were not being honored and that there were many excuses made for this. An FPA investigator assisted the victim in coming up with ways to negotiate to solve the problem. Before our investigator ever contacted Rizwan directly, the complaint was withdrawn since the victim thought the money was on the way.
Early this year, we got 2 new formal complaints and a number of negative reviews for Next. The same FPA members who lost so much with IFC also had money with Next Consultancy. It seems that this time, the money was in individual managed accounts at a brokerage, but a total disregard for risk management (promised to the traders) resulted in a total loss. Rizwan's promises to trade back the losses or to return money lost in excess of the trading agreements came to nothing.
A number of negative reviews were withdrawn by reviewers, based on Rizwan telling them that no money would be sent until the negative reviews were removed. Eventually, this got so bad that the FPA's Review Moderators posted a message on the Next Consultancy review page indicating that no more reviews would be taken down unless the reviewers reported actually having issues resolved.
Rizwan Awan made and broke many promises regarding payments. His most recent promise was that money would be available by April 30th, 2009. FPA investigator Gerard let him know that this was his final chance to show at least some sign of keeping a promise. Gerard even offered him advice on faster ways to move at least some of the money. Once he was faced with an inflexible deadline based on his own promises, he stopped replying to emails.
The Next-Consultancy website expired at the end of March and hasn't been renewed yet. We warn traders to beware of Rizwan Awan popping up under a new domain name.
The FPA considers Rizwan Awan to be a scammer and his company, Next Consulting, Ltd., also known as Next-Consultancy to be a scam. We hope that some day he will make good on his promises and repay the money as promised. If that day ever comes, the scam finding will be lifted. Under the circumstances, we consider this to be very unlikely.
Official Scam Finding
Original Complaint thread
Next-Consultancy.com Review Page
About a year ago, one of his clients complained to the FPA that withdrawal requests were not being honored and that there were many excuses made for this. An FPA investigator assisted the victim in coming up with ways to negotiate to solve the problem. Before our investigator ever contacted Rizwan directly, the complaint was withdrawn since the victim thought the money was on the way.
Early this year, we got 2 new formal complaints and a number of negative reviews for Next. The same FPA members who lost so much with IFC also had money with Next Consultancy. It seems that this time, the money was in individual managed accounts at a brokerage, but a total disregard for risk management (promised to the traders) resulted in a total loss. Rizwan's promises to trade back the losses or to return money lost in excess of the trading agreements came to nothing.
A number of negative reviews were withdrawn by reviewers, based on Rizwan telling them that no money would be sent until the negative reviews were removed. Eventually, this got so bad that the FPA's Review Moderators posted a message on the Next Consultancy review page indicating that no more reviews would be taken down unless the reviewers reported actually having issues resolved.
Rizwan Awan made and broke many promises regarding payments. His most recent promise was that money would be available by April 30th, 2009. FPA investigator Gerard let him know that this was his final chance to show at least some sign of keeping a promise. Gerard even offered him advice on faster ways to move at least some of the money. Once he was faced with an inflexible deadline based on his own promises, he stopped replying to emails.
The Next-Consultancy website expired at the end of March and hasn't been renewed yet. We warn traders to beware of Rizwan Awan popping up under a new domain name.
The FPA considers Rizwan Awan to be a scammer and his company, Next Consulting, Ltd., also known as Next-Consultancy to be a scam. We hope that some day he will make good on his promises and repay the money as promised. If that day ever comes, the scam finding will be lifted. Under the circumstances, we consider this to be very unlikely.
Official Scam Finding
Original Complaint thread
Next-Consultancy.com Review Page
Last edited:
