SmartFeedSmartFeed          

Porsche Hangout


WELCOME - YOU ARE CURRENTLY VIEWING 419EATER AS A GUEST

By joining our community you will have the ability to post topics and access other forums reserved for members. Registration is quick, simple and absolutely free. Join our community today by clicking here.

ScamWarners.com - Internet Anti-Fraud Center - now open!


 Hi, scam victim here

View next topic
View previous topic
 
Post new topicReply to topic
Author Message
goldenfleece
Hello I'm New here!


Joined: 16 Aug 2010
Posts: 2


PostPosted: Mon Aug 16, 2010 1:08 pm Reply with quoteBack to top

Hi guys
I'm not sure whether this is the right place to post this, but I've been recently scammed (cost me 27k USD) and a lot of other people have been hit by the same scam as well, so I'm just posting here to maybe get some ideas on what can be done.

Some years ago I wanted to learn how to trade forex - the foreign exchange market. I went on a website whose name is Forex Factory, and that's the largest community on the internet for forex trading. I spent several months on that website and then noticed one member (called jacko) who was praised by a lot of other members as a really great trader, and back then he was offering to mentor people for the cost of 500 dollars a year. Some time later I decided to join the group of the people he was mentoring, and wired him 500 dollars. It seemed like a good investment and he was a good mentor, and I recouped my initial 500 dollars and made some more money by following his trades and advice. He answered my questions whenever I had them, by e-mail or SMS.

After about one year, he informed all group members that he was establishing a "managed fund". A managed fund is a pool of money traded by the fund manager. For example, if the fund manager makes a 2 percent profit on a trade, all the people in the fund make a 2 percent profit on their investment. I didn't join the fund at first, but it all looked really legitimate - he would notify us about his trades in advance and there was never any suspicion that he was faking his results. So about half a year later I did join the fund (I wired 27K to the company, which was based in Hong Kong), and for the next year and a half the fund "grew" at about 30-40 percent a year. One time I took about 7 thousand dollars of my own money out of the fund and wired it back to my account, just to see that it was ok. Since there were no problems and I got the money I asked for, I wired it back to the fund. You have to understand that to all of us he was more like a friend - we would e-mail him and SMS him, and he would always answer us kindly and politely.

Well, a couple of weeks ago all the investors got a message saying the company was shutting down and that each investor would be getting back their money in late July - early August. By early August all communications with "jacko" and with his company ceased, the company cell phones could not be reached anymore, and the website went down. That's pretty much it. He hasn't been answering our e-mails ever since. Some people invested a lot more than I did (some even as much as 80-100K).

Here's the thread on Forex Factory where you can learn more, if you want:
http://www.forexfactory.com/showthread.php?t=27286&page=748

If you have any suggestions on what to do, I'll really appreciate it.
View user's profileSend private message
Yastreb
Demented Opportunist


Joined: 04 Apr 2006
Posts: 15072
Location: Leading my wolf pack


PostPosted: Mon Aug 16, 2010 1:15 pm Reply with quoteBack to top

Does anyone else think this might have been a Ponzi scheme?

http://en.wikipedia.org/wiki/Ponzi_scheme

_________________
I will heed the advice of a polite horse for it is written that more flies are caught with honey than vinegar... although assault carbines and monstrous wolves are still fun.

"I aim to misbehave."

Asena - Pretty Rose
United Kingdom x5 Spain New Zealand Senegal Ghana x2 Benin Closed lad accounts x 183
Safari x 4 - Oyenka Chidinma - Lagos to Cotonou; Dickyboi - Lagos to Accra; Femmy - Lagos to Porto Novo; "Woody" - Accra to Singapore
Sand Timer x 7: Dufus & Abavana/Capt Joseph Annan/Victor Walla/Ohene Agyekum/James Jeffrey/Peace Akpobor & John Mensah/Tony Kalaby & Addo Gilbert
View user's profileSend private message
Rooted
419Eater is my life


Joined: 26 Jan 2010
Posts: 353
Location: Beyond the black stump


PostPosted: Mon Aug 16, 2010 1:27 pm Reply with quoteBack to top

Sounds to me like the classic Ponzi scheme scam which was actually pioneered 90 years ago. It basically relies on setting up an initial group of investors who get high returns which are generally funded from other investors in the initial group. If any of the initial investors want to get paid out the scammer does so, which means that they spread the good word and usually re-invest the money anyway. Of course the good word quickly spreads and the investors expand exponentially and because the potential returns are so good most investors just plough back their supposed gains.

This is how Bernard Madoff conducted his fraud on a grand scale which collapsed due partly to the GFC.

To your case the news doesn't sound good. He is probably operating under a pseudonym and will prove to be untraceable.

_________________
Easter Egg 2013

Become a GOLD DIGGER

Closed lad accounts x18
Mortar x1

I thank you for your mail and wish to inform you that I mate with the lawyer this afternoon...

PAY YOUR BILL PAY YOUR BILL.OR STOP WASTING YOUR TIME. BARRISTER S ZUMA ESQ.

How will be asking all that question wasting my time that is precious....

... you are a joker a deciever and also a liar ...

New User's FAQ
View user's profileSend private message
theblob
419Eater is my life


Joined: 31 May 2010
Posts: 255


PostPosted: Mon Aug 16, 2010 2:10 pm Reply with quoteBack to top

I don't think there's much to be done about this as far as scambaiting goes.

Scamwarners is the site where you probably want to report this.

_________________
OINK OINK ! > Closed lad accounts x16
View user's profileSend private message
Simon Bar Sinister
419Eater is my life


Joined: 25 Aug 2006
Posts: 403


PostPosted: Mon Aug 16, 2010 3:14 pm Reply with quoteBack to top

definitely a PONZI...

sounds like a Pyramid in the offering for anyone that wants it...

_________________
I was brought up from a good Christian home and I have all confidence and trust in my God who never fails his people. - Cole Adams (lad)


Nigeria United States <---- so many to go.. but it's a start!!
Cellphone x2
Tattoo i have to tatoo on my hand and my chest thanks and god you and all member,s of w.i.c.c.a.n thanks you email ineed help pastor pleas help me please. - Muhsini Hasani (lad) Easter Egg 2013

<a href="/forum/donate.php">[Click here to donate to 419Eater.com]</a>
View user's profileSend private messageSend e-mailYahoo Messenger
Inspector Gadget
Angel of unrealistic meetings


Joined: 20 Feb 2007
Posts: 6195
Location: Trumpton


PostPosted: Mon Aug 16, 2010 3:34 pm Reply with quoteBack to top

He is still blogging here :
http://waynejacksonfx.blogspot.com/

Quote:
... I also use the 50% Fib ratio..

only 50% lies, are you sure?

Not that Eater deals with Ponzi scems as such :
Quote:

If you want to know more, please contact me here: [email protected]


His last post was 2nd August, he is not accepting any new traders.

_________________
Easter 2015 x2 Pith Helmet Co bait with Rumbero Sao Tome island to Gabon van donation
Pith Helmet Co bait with Jayhawk and VJD. Stanley's bottle tour Aba to Lagos
Pith Helmet Pith Helmet Team Hector, airport in installments and St Louis to Kayes
Pith Helmet Halil, Cotonou to Accra
Pith Helmet + Sand Timer Precious 10/08/11
Cellphone x8 Nigeria Spain Mortar x34 Closed lad accounts x 73 Goat
grown up man like him, still doing all this shit games - Stanley, (he doesn't like Parcel Direct)
You again do the strange reflections stuffed with drugs? - Natalia
Sand Timer x3 Hector 24/1/13 Sand Timer Moses 15th Oct 2011
Pretty Rose Sand Timer x 2Mick Ole 11th Sept 2014-16 Sand Timer Asare Akuffo start 4th Aug 2014
View user's profileSend private messageSkype Name
Chuda, the killer cat
Craziest cat ever


Joined: 02 Aug 2010
Posts: 1034
Location: Out hunting lads


PostPosted: Mon Aug 16, 2010 3:46 pm Reply with quoteBack to top

goldenfleece wrote:
Well, a couple of weeks ago all the investors got a message saying the company was shutting down and that each investor would be getting back their money in late July - early August. By early August all communications with "jacko" and with his company ceased, the company cell phones could not be reached anymore, and the website went down. That's pretty much it. He hasn't been answering our e-mails ever since. Some people invested a lot more than I did (some even as much as 80-100K).

This looks like they have decided to cut risks and shut down the scheme. This kind of thing is bound to burst at some time anyway.
Then maybe set up a new one and do it over again.
This looks more like something for the police. And yes, I know they might be unable to do a thing here, but I think it's the best thing to do.

_________________
Killer cat attitude:
I know what you're thinking MUGU — "Am I a lion or only a cat?"
Well, to tell you the truth, in all this excitement, I've kinda lost track myself.
But being a lion, the most powerful predator in the world I would bite your MUGU head clean off, you've got to ask yourself one question:
"Do I feel lucky?" Well, do ya, MUGU?

Closed lad accounts X 4 - My first ones - Same lad, nice guy Smile
Closed lad accounts X 2 - From same hitlad Smile

YOU GET EXTRA HURTY DEATH AFTERR YOU WORDS - Hitbadger - Now one of us, you're so welcome Exclamation
THE PROBLEM IS I AM RUNNING OUT OF PATIENT - Hitlad
GET ME MONEY THEM I WILL TELL YOU WERE HE HIS, JUST MONEY ANY ABOUT BECAUSE I HATE THAT BUSTARD. - Same hitlad Smile
Goat Golden Goat
View user's profileSend private message
psychicbait
Baiting Guru


Joined: 22 Nov 2009
Posts: 2782
Location: wherever, dressed to kill


PostPosted: Mon Aug 16, 2010 6:56 pm Reply with quoteBack to top

I followed that thread to the end.
Fascinating.
What an education in scamming.
And hand-washing.
View user's profileSend private message
lakeside77
A chaff in the USA


Joined: 11 Jul 2008
Posts: 2478
Location: Out there in the cold, getting lonely, getting old


PostPosted: Tue Aug 17, 2010 3:25 am Reply with quoteBack to top

^^^ "Fascinating" is an understatement.

That whole thread goes runs through the classic denial-anger-acceptance pattern. It's also an insight of what may go through the minds of victims of 419 scammers.

Besides the old "if it sounds too good to be true . . . " caution, there is another consideration: if I knew of a can't-miss investment scheme I may tell my family and close friends, but I certainly would not troll the internet to tell total strangers about it.

_________________
ls77

Closed lad accounts x24 Easter Egg 2012 United KingdomNigeria x3 Thailand x2 Guinea BissauBeninGermanyNetherlands
Sand Timer Father Frank

I must let you know that am sick and tired of all this whole bull sheet do you know my ass is on the line - Jonh Raymund

i want to say i am very sorry for the Mother that gave Barth to you -- Jim Ovie

. . . it is disrespectful,malicious, an ILEDAN EYE,to our corporation and embarrassing to my secretary as he was messed up by your action. I thought I was assisting a true American gentleman without knowing that I am trying to help one of the most chaffs in the USA. --Dr. Leo Stan Ekeh

. . . I hate you with all my Live, you may not understand the Laval of hatred I have in you -- Dr. Lambert
View user's profileSend private messageSkype Name
psychicbait
Baiting Guru


Joined: 22 Nov 2009
Posts: 2782
Location: wherever, dressed to kill


PostPosted: Tue Aug 17, 2010 10:03 am Reply with quoteBack to top

^^^Agreed, an understatement.
It cut rather close to the bone, bring back memories of a 'sure thing' one of my colleagues was on to in the stock market.

They shared the tip with us and I can recall the adrenalin surges as we followed the 'sure thing's rise on our breaks.
Fortunately, I sold out the day before the 'sure thing' crested.

Reading that thread brought it all back vividly. What differs is that our experience was among colleagues investing ourselves in the stock market, not a Ponzi scheme.

I´m very sorry for your experience, goldenfleece and thanks for posting it here, so others can learn from it.


Last edited by psychicbait on Tue Aug 17, 2010 3:35 pm; edited 1 time in total
View user's profileSend private message
Raga Man
Baiting Guru


Joined: 04 Sep 2009
Posts: 2879
Location: In a gloomy castle on a lonely hill


PostPosted: Tue Aug 17, 2010 10:58 am Reply with quoteBack to top

lakeside77 wrote:
if I knew of a can't-miss investment scheme I may tell my family and close friends, but I certainly would not troll the internet to tell total strangers about it.

Exactly so. If someone discovers a method of making money in the markets, the surest way to ruin it's effectiveness is to let a whole bunch of people in on it. If it really worked, the "guru" would make many orders of magnitude more money applying his system in the markets than he would selling the method to strangers.

_________________
Closed lad accounts X 23 Easter Egg 2013 Mortar X 3
Safari + Vcamera Evans Phillips, Atlanta>Savannah for a roll in the hay on webcam. "I hate the way you do your things. It is horrible and most fraustrating", "Bitch!!! Bastard. Die in hell idiot"
Vcamera Favor 0nowojo, Scammer Confession. "This is a coke and boo story"
Nurse Nastys Audi TT + Sand Timer (15 mo.) David Holt (will eat your flesh for money)
"there is something fishery going on", "You people are all Junks", E. Kaba
"Go and face your dumb life", J. Mathin
"You are not well trained as a human being...", M. Tony
"...there are thieves and kackers and postal pilferers in africa...", E. Didier. Shocked Who knew?

Last edited by Raga Man on Tue Aug 17, 2010 1:46 pm; edited 1 time in total
View user's profileSend private message
BobCarlson
Not quite a Newb


Joined: 14 Jul 2010
Posts: 46


PostPosted: Tue Aug 17, 2010 11:47 am Reply with quoteBack to top

I feel very sorry for you for your lost but really don't know what could be done. Thanks for the educational thread as well.

That is the biggest thread I have ever seen.
View user's profileSend private message
goldenfleece
Hello I'm New here!


Joined: 16 Aug 2010
Posts: 2


PostPosted: Tue Aug 17, 2010 12:44 pm Reply with quoteBack to top

Thanks for all the replies, guys. I'm glad that you found the thread informative. So far we've gone to the Hong Kong police, to the bank where we wired the money, and to our embassies in Hong Kong. I can't really hope that we'll see our money back, but hey, they did catch Madoff, right?
View user's profileSend private message
ScammedOut
Elite Baiter


Joined: 19 Jan 2009
Posts: 1440


PostPosted: Tue Aug 17, 2010 4:50 pm Reply with quoteBack to top

Quote:
the old "if it sounds too good to be true . . . "


Right. I was a stock trader for 25 years. The most important thing I learned was to NEVER give anyone control of your money...ever...not even if that person is a relative, and certainly not to a stranger on the net using a pseudonym.

I'm sorry you lost all that money. It's a hard way to learn a lesson. Sad

_________________
"FUCK U....MBESILE. FUCK OFF AND STOP SENDING ME EMAIL,IDIOT.
YOUR MOTHER IS SOOOOOOOOOOOOOO FUCKED."- Rev.1an H0rgan
You are very stupid PIG.-Mr. Samuel Koff0ur

YOU GO SLEEP YOU NO GO WAKE UP AGAIN
SEE YOU ASS IN HELL fucking tax payer ..
REJOICE IN HELL - Jack L1n (Mr.)
Enough fooling around with yourself. Your parents and family are Fucking scammer!
You are a white baboon,that doesn't even take
shower.
-Miss Gbagbo, Christian.
I NEVER SEE ANIMAL LIKE YOU. Your papa be castrated so he no make more like you!
Easter Egg 2012 - Robert Miller, philanthropist Closed lad accounts
"I am okay but had a little fracture on our last operation." - Capt. Highliner
View user's profileSend private message
rocknrollnobody
Master Baiter


Joined: 06 Jan 2010
Posts: 154


PostPosted: Wed Aug 18, 2010 9:51 am Reply with quoteBack to top

So sorry to hear of your experience goldenfleece.

Ponzi schemes are pretty unique in that the fraudster must gain considerable trust from many people before they start to see results.

I guess in this instance, it paid off for the fraudster.

I hope you hear some good news from the Police soon! Maybe once they've caught him they'll let you go down the Police station with a garden fork and a bucket of frogs?

_________________
Closed lad accounts x10 Goat

[Free portrait of you with sexy goats!]

"WESTERN UNIN SAY IT FAKE AND YOU LIE. THEY LAUGH AND I FEEL FOOL. I WAIT FOR 5 HOUR TO GET WESTERN OFFICE AND YOU TRICK ME. I AM HIGH RESPECTED BANK OFFICIAL AND YOU TRICK ME WITH LIES AND FAKERY" - C0llin Sh1elds (a high respected bank official, apparently)
"I hope this is not another game as i do not have time for such games as i mean business here. I would not want to commence on a never ending journey or an uncompleted project with an unserious man." - Barrister Joseph Goldsmith doesn't want a never-ending project. Shame...
View user's profileSend private message
Display posts from previous:      
Post new topicReply to topic


 Jump to:   



View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



** Find out information about your IP address **


All Content © 2003 - 419Eater.com
Powered by phpBB © 2001, 2002 phpBB Group :S5: FI Theme :: All times are GMT