Oh my God you have been conned! It's an expensive lesson I'm afraid There are some pretty suave people around, he could have been a lawyer, banker, or trader, trust no one, with your accounts, because they all want your money. This is a definite police investigation contact asap it may be a fraud problem! and he didn't loose your money, but stole it gradually, do you have a list of all the transactions?Phoebe09 wrote:I hope there are lawyers out there who might be able to give some advice as I'm not sure if my situation qualifies for legal pursue.
I came across a forum where this guy was "advertising" his service to invest in futures. As he just seemed to convincing on his capability, I then contacted him & opened a futures a/c (under my name). The verbal agreement was that he will take a 20% cut of the profit. But within 5 months, he lost all of my money (S$300k) & said he couldn't help me anymore. He then disappeared.
I am devastated & guess that I have no case to pursue since there is no written agreement & the a/c was under my name. But I would like to check if anyone on this forum who might be able to give any valuable advise if it is really true that I can only treat this as a very expensive lesson or if there's any avenue for me to pursue. Thanks.
Phoebe, You are talking about a lot of money and before I did anything (or not do anything) I would definitely get more experienced advice from an attorney.Phoebe09 wrote:Yes, I was that gullible & foolish that I did not really did background checks etc before deciding to have him trade for me. I just didn't know what to do with my savings then so when there was so much calibre that was written on his website, I foolishly believed he was honest & capable.
I have yet to file any report as I feel there's no valid case since the a/c was under my name & I took instructions from him (via SMS) to execute trades.
Bucket shop...Call the cops...Phoebe09 wrote:I hope there are lawyers out there who might be able to give some advice as I'm not sure if my situation qualifies for legal pursue.
I came across a forum where this guy was "advertising" his service to invest in futures. As he just seemed to convincing on his capability, I then contacted him & opened a futures a/c (under my name). The verbal agreement was that he will take a 20% cut of the profit. But within 5 months, he lost all of my money (S$300k) & said he couldn't help me anymore. He then disappeared.
I am devastated & guess that I have no case to pursue since there is no written agreement & the a/c was under my name. But I would like to check if anyone on this forum who might be able to give any valuable advise if it is really true that I can only treat this as a very expensive lesson or if there's any avenue for me to pursue. Thanks.
Phoebe09 wrote:I hope there are lawyers out there who might be able to give some advice as I'm not sure if my situation qualifies for legal pursue.
I came across a forum where this guy was "advertising" his service to invest in futures. As he just seemed to convincing on his capability, I then contacted him & opened a futures a/c (under my name). The verbal agreement was that he will take a 20% cut of the profit. But within 5 months, he lost all of my money (S$300k) & said he couldn't help me anymore. He then disappeared.
I am devastated & guess that I have no case to pursue since there is no written agreement & the a/c was under my name. But I would like to check if anyone on this forum who might be able to give any valuable advise if it is really true that I can only treat this as a very expensive lesson or if there's any avenue for me to pursue. Thanks.
This is a good idea, Phoebe. Do take Twista's advice. This guy probably cheated others too, and with enough complaints the CAD could initiate action or forward the case to an authority who can.twista88 wrote:Looking at your case, I would advise you to make a report to the Commercial Affairs Department, they deal with commercial crimes and are under the Singapore Police Force.
I am sure there must be transaction records and other details. Make a report first and assist the investigating officers by providing as much information as possible. Do not delay!!!
Hi Phoebe, you should take both our advice and pursue the matter, if you are unsure who and how to contact. Just visit this site www.cad.gov.sg. It has sufficient information on how you should go about reporting. Just in case you can't access the site through the forum, you may choose to google the word 'cad' and search it under SG.Wind In My Hair wrote:This is a good idea, Phoebe. Do take Twista's advice. This guy probably cheated others too, and with enough complaints the CAD could initiate action or forward the case to an authority who can.twista88 wrote:Looking at your case, I would advise you to make a report to the Commercial Affairs Department, they deal with commercial crimes and are under the Singapore Police Force.
I am sure there must be transaction records and other details. Make a report first and assist the investigating officers by providing as much information as possible. Do not delay!!!
You may not get your money back but if you highlight it at least you stand a chance. And you could help prevent others from falling prey to this guy.
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