Here is an email received from Rob Grespi who runs a popular forex signal provider called “Kingforex” (friend with Felix from forexbastards.com). Here is another solid proof of why the forex broker industry is filled with scammers and con artists. Always, and I do mean ALWAYS do your due diligence before you fall for the “low pip spread” bait these bucket shops use to lure you in and steal your money!
WARNING: FOR THOSE WITH WEAK HEART DO NOT READ THIS LETTER
Here is what I sent to my Kingforex subscribers:
Dear KFS subscribers,
I am writing you today regarding a very serious situation that has happened to one of my KFS subscribers, and I am sure it will happen to others that have an account at www.Forexgen.com
In a nutshell:
One of my subscribers decided to withdraw his money from Forexgen.com (his full and total right) for a total of $160,500, after several attempts he never received his money. Of course, he brought this situation to my attention when he knew that I helped another of my subscibers (several months ago) getting her money back from another forex broker scam artist ([url]www.profinum.com[/url]) which by the way, after our intervention, Profinum went out of business and the owner is now selling his Canary house, that I am sure was obtained by scamming honest traders out of their money. But mission was accomplished and my subscriber got her hard earned money within 48H of our intervention (Felix, KFS people and me).
Their website after they went out business
And their current website
Now we have a similar situation on a bigger scale; www.forexgen.com is refusing to return my subscriber his $160,500 or so. After he made me aware of it, I went on the war path and started to call every numbers that Forexgen.com had listed, not one of them answered. 2 of them had standard electronic greeting not mentioning I reached “forexgen” at all, the other numbers were bogus numbers or numbers of regular people accross the globe (I sadly even woke up some of them) that had no relationship with Forexgen.com at all. The N.Y. number that Forexgen has listed kept hanging up on me. Obviously, they were hiding as they knew what I was after.
Here how they cleverly stole his money:
They place an “inhouse bogus cross sell trade” on the EUR/USD at 1.4056 (trade # 33114 on 10/19/2007 at 7:10 am EST), for a very large lot amount, enough to suck in all his equity, then they closed the trade same minute at 1.4303.
The problem is:
1) The EUR/USD at 7:10 EST on 10/19/2007 was never at 1.4056 (actually it was never anywhere close the entire day, no matter what time zone you want to pick… actually last time the EUR/USD was at 1.4050 levels was 2 weeks ago), and the lowest the Eur/usd was during the time frame (10/19/2007 at 7:10AM) was 1.4280s or so.
2) They closed that huge “in house bogus cross trade” for a MASSIVE loss of 247 pips, in less than 1 minute….. The highest the eur/usd was during that time frame was 1.4290s and the highest the eur/usd was during the entire day was 1.4315s or so, and the lowest it was the entire day was 1.4240s or so, a maximum of 60/70 pips range, no matter what time ZONE you want to pick THAT DAY! Hell, I can’t remember the last time the Euro moved over 247 pips in less than 1 minute (at 7:10 there was no news announcement neither)… OR EVEN IN A DAY FOR THAT MATTER….. LUCKY AND EVEN UNUSUAL IF YOU GET THIS TYPE OF MOVE IN 2 WEEKS TIME…… LOL
THAT SCAM IS SO OBVIOUS THAT EVEN A RETARDED MONKEY COULD FIGURE IT OUT….
THIS IS CLEARLY A WIRE FRAUD, INTERNET FRAUD, EMBEZZLEMENT AND MONEY LAUNDERING IS NOT FOR OFF EITHER….
With this level of fraudulent activities and the size of the money involved, all International Authorities can be involved wherever they try to hide, also the clearing banks they use will also be contacted, I am sure that those clearing banks are NOT involed in this “dirty scam”, and therefore will cooperate with authorities in an effort to freeze all asset of Forexgen, and also give all where abouts of any Forexgen’s funds.
OH! Also the U.S address that Forexgen has listed on there website in Manassas, Virginia, is a private home, that I may add, is in foreclosure.
(Too late to change it, Mr Forexgen, we made screenshot of it…), Actually we made screen shots of everything for that matter. Of course I left several messages to the one that had a voice mails, warning them that they had 72 hours to send the money to my subscriber. (I don’t need to tell you how the messages were worded, but I am sure after the Profinum story, you can imagine the style that I used),So after going nowhere with the telephone calls, I went on their “live chat”, and here is what happened:
Nancy: Welcome to our live chat service.
Nancy: How may I help you today?
rob grespi: YOU HAVE 72 HOURS TO GIVE RASHID GASHOR ACCOUNT # 5011164 , IS FUKING MONEY, OR WE WILL SHUT DOWN YOUR FUKING FIRM, THIEVES…. CAPESH
rob grespi: THIS IS THE LAST WARNING MOTHERFUKERS
Needless to say, s/he closed the chat and went to hide under his/her kitchen counter, (because I am sure it is a “garage/basement/kitchen counter” based organization at best). They are hiding, but it does not matter: I will go to all the way to the hell if necessary to find that money for him, even if I have to drag these “scums” out of their basements.
Later…. they cleverly threatened to sue me, that the funny part, I welcome and encourage them to: anytime, anyplace, anywhere, because I will not only counter sue for “abuse of process”, but ask for astronomical damages, and will refer the case to my favorite friends, “the FBI”, for wire fraud, internet fraud, embezzlement, money laundering, I even MIGHT add that the funds they are stealing “MIGHT” be used for terrorist funding which will of course bring Interpol to the “party” as well as all international anti-terrorist activities agencies).
To add to their “sterling legitimacy”, I received a call in the middle of the night, “cleverly wording” that physical harmed against me could be involved……….. LOL…
All I have to say is: BRING IT ON…………….. AND THEY WILL FOUND OUT WHO THEY ARE DEALING WITH….
————————————
NOW: MR FOREXGEN, PAY ATTENTION, READ CAREFULLY, AND WISELY CHOOSE YOUR NEXT MOVE:If my subscriber does not get *ALL* his money within 72 banking hours, “PREPARE TO ENTER INTO A WORLD OF ****”
(I welcome you to test me or call my bluff. “Make my day… punk” as someone famous said in a movie.)
————————————-Also, I suggest all other forex traders that have any funds with this “crooks/ thieves” to withdraw their money ASAP, because chances are they will try to shut down their website and try to hide. But as I said, they can run, they can hide but I will found out where there live, like I did with Mika from Profinum, I found out where he [Mika] lived).
Also I have Forexgen clearing bank infos (all infos that is…) , I will forward this letter to all their clearing banks as well, if my subscriber does not get his funds within 72 hours… I am counting…
But here is the lesson: do your due diligences before sending any funds to anyone.
As always,
Best Regards,
Rob Grespi
January 4th, 2008 at 2:39 am
Hi Rob Grespi, before i make my comment i like to commend you effort in fighting these
forex scams.I believe all effort should be made in clearing them out.
If i had seen your letter on forexgen scam i would have fallen a victim
I am more or less an up coming forex trader with a lot of passion for the trade, but forexgen is killing the enthusiasm and trust that i have with fx brokers.
I made a withdrawal of 1200 dollars on 12th Nov 2007 and again another withdrawal of 1180 on 14 dec 2007.Up till this moment 4th jan 2008 my withdrawals have not been send to my Bank account.
Each time i speak with forexgen representatives via chat they always give me one excuse or the other,they always lie to me that the money has been sent.
i can provide several letters,Chat conversations and many other details to butress my alligation
My advise also to any investor is to beware because for now i dont know how to claim my money from these people, i will be glad to receive any
assistance to recover my money.Thanks
January 4th, 2008 at 3:02 am
Hi Adekola. Thanks for your comment, and I’m sorry about your loss. Unfortunately there are some real crooks out there.
Go to this website:
http://www.kingforexsignals.com/contact+me
and get in touch with Rob Grespi himself. I’m sure he would appreciate any evidence or anything that can be used against these ForexGen bastards.
Also if you run across any other foul smelling forex broker and can provide evidence then feel free to contact me and I’ll gladly make a post here on my blog to let the world know. I think this is about the best way we can fight these scammers. We retail traders should band together and just ruin reputation of these scammers to make sure nobody falls prey to their chicanery.
Cheers.
P.S you can find my e-mail in the “About” section at the top.
January 15th, 2008 at 8:33 pm
Hi Felix
Just I want to say all what are you doing is nothing cuse our goodwell more enough to erase all what are you writing about us
Well let’s keep doing what r u doing & no one will blame you about this cry but take in consideration that you say bad mouse about forexgen who provide us with good services & high support
What about others who are really scam?
good question need a good answer hope to see it soon here & I will visit this fishy scam daily
Thanks for effort done for forexgen
January 15th, 2008 at 8:40 pm
Did you heard before about 2 General managers in a same department of a company?
No for sure
So as the above example there will be a great competition between brokers in forex market
This competition doesn’t related to traders if you able to compete with forexgen so do it far of this way (Scamming)Because ForexGen from the greatest brokers in the market
Don’t worry about us as traders we can take our revenge from the devil if the devil take stole something from us
But if I’m broker I will do more than that
A proof for justice ForexGen:
They didn’t reply your attack cuse they depend on their support not in externally support
I think it’s enough & stop dropping your tears in the faces of others :)
January 15th, 2008 at 8:48 pm
According to the Federal Trading Commission (FTC) and Commodity Futures Trading Commission, all financial institutions are obligated in conformity with the anti money laundering laws (AML) that control money laundering and maintain the integrity and security of the international banking and financial institutions.
ForexGen is regulated by the international authorities against money laundering and in full compliance with the International Laws.
so how come Forexgen are scammers
January 15th, 2008 at 8:49 pm
http://www.kingforexsignals.com/contact+me
that’s your website I think
But sorry you are providing traders with wrong signals why?
I will tell you why:
1) To make the traders lose & then complain there brokers
2) To attract traders to your hug as an angel inviting traders to join there sadness about loss
3) Sending this traders to the brokers who are paying for you
4) It’s very seen & observed from all traders
5) Nothing will happen
6) Take care of your self & if you are going to send trading signals send right one
Go Ahead
January 15th, 2008 at 8:50 pm
It will be proved more if you deleted my comments
January 15th, 2008 at 8:51 pm
really forexgen they doing great
and i work with them and they give me every services they have
January 15th, 2008 at 8:56 pm
lol
actually felix you act like a crazy person but you choose your victims from the foolish people who belive your ugly methods.
anyway forexgen one of the best brokers and i think that you know that well.
try to compete with a better method
bad luck :)
January 15th, 2008 at 9:00 pm
Our target is to achieve our principal goal, which is gaining the customer’s confidence and reach to the maximum satisfaction level.
so tell me pleas why should we loss our customer satisfaction.
so, pleas if any one have problem with Forexgen, pleas try to contact us.
as me, i don’t accept to work with spammers, so if i dont believe in my company i wont work there.
but i think that you are a spam, and trying to mack our people to get away, but i think since 2003 and we are facing people like you and we have our tools to face people like you
January 16th, 2008 at 1:45 am
Umm..I sure hope you some of you guys aren’t paid to post positive comments cause if I catch on I’ll delete them. Or maybe you’re all forexgen staff?
Don’t worry Alessandro I will not delete your post.
Anyways guys I’ve got an idea. We can take this discussion to this blog’s forum as I have a feeling that this post will receive a lot of comments.
So please take the heated discussion to the forum over here:
http://alansmoneyblog.com/forum/index.php?topic=1950.0
Thanks.
January 16th, 2008 at 10:37 pm
i went to your link to make forum chat with you but you didn’t send me the activation e-mail.
so i will answer you now Alan
FOREXGEN is a company in Norway,Oslo
it is easy to reach it
it is working since 2003
this mean it is in the market for 6 years
i dont think that it will be in the market if they are doing so.
as i think you know this company is regulated, and this market is protected from companies doing so by many ways.
as you said “Unfortunately there are some real crooks out there.”
and Unfortunately you are one of them
pleas activate my account to be chat with you on line, and in this chat we will prove to you that it is a good company to deal with.
January 16th, 2008 at 11:01 pm
I hope not to delete my comments & I made registration in your website & I hope to build a respectable discussion between me & you about my broker forexgen
Thanks + Regards
Alessandro
January 17th, 2008 at 1:33 am
Check your spam box..perhaps it got labelled as spam. Most people have no problem receiving mail from my mail server.
Now as for for your ‘“Unfortunately there are some real crooks out there. and Unfortunately you are one of them”
You’re going to have to prove this insulting accusation because as it stands I believe you and your company are under fire, NOT me. I am merely the messenger.
I’m going to try to e-mail this posting to Rob Grespi and see if we can get him in on the discussion and maybe the trader who was wronged by your company.
January 28th, 2008 at 4:09 pm
Ron Grespi
where?
lol :)
your are lier, Scamer, gangster
January 28th, 2008 at 5:09 pm
oops..It should say Rob Grespi..my bad..fixed..and are you calling me a “scamer”?! Alessandro have you ever heard about the pot calling the kettle black? You need to chill and drop this issue. Next time I will just delete your comment if you continue making accusations you cannot back up. Take your juvenile comments to the forum if you’d like, but I have a feeling you aren’t gonna get anywhere. Got it? Good!
As for Rob Grespi, I doubt he’d come around here as he probably has better things to do than to put up with your nonsense.
February 13th, 2008 at 4:03 am
http://www.pipwizard.com/forexbastards.htm
February 13th, 2008 at 4:03 am
Look & Judge & say who is the scam:
That’s The Story:
- I’m Introducing broker for forexgen from age ago
- While one of my clients was searching for signals he found the following website www . kingofforexsignal .com then he signed up in this website & begin to receive signals but unfortunately he lost his account & liquidated
I don’t believe it at first but when I get this complain from more than one client I began to search & analyze this issue
- I signed up with those bastards & I found the following:
Wrong Signals
Opposite Signals if you compared it with right one
non-profitable signals
- I searched who is the owner of this website & I found that this website owned by Felix ((((((((((((((((((((yes Felix))))))))))))))))))))))
I searched for all his activities & the result was:
He owns the following:
http://www. forexpeacearmy .com : This website post scams for brokers that don’t pay for Felix yes they are gangs
http://www. kingofforexsignal .com : This website send wrong signals for clients to make them lose & complain the brokers to Felix for posting scams against them
Felix has his own brokerage companies but under another names & companies
So he is attracting the clients by a dirty way (yes he is a dirty man)
I looked for forexgen in forexpeacearmy & I found many & many scams but I didn’t hear any complaint from my clients, so how come?
I asked them for the reason of that & they sent me an email saying that they refused to pay him a cent
I understand then what he is doing in his websites
I tried to reply for any scam for forexgen but this pig erasing any thing good for them
I found someone called Alan alansmoneyblog . com saying bad mouth about forexgen & the same as forexpeacearmy (Because They are related to each others) I gave him comments in this blog & at last he asked me for a discussion in his forums
The first thing I did there that I built rules for the forum discussion
As an evidence I submitted here a photo as a snap shot from the rules posted
The rules was:
1) No For Escape
2) Escape means loss
3) No Spamming
4) No For Lies
5) Don’t block any participation from other members
6) Let’s do it with honer
7) Don’t ban me or any member else
Cool Don’t change the way & direction of the conversation
9) That’s what I want to say
At the last they was not able to give me a logic respond for there attack on forexgen & more than that ForexGen send me an email saying that there someone called Alan entered the website & chatted with ForexGen’s representative complaining about me saying: ”tell him (alessandro0003msc) to stop posting in my forums” lol he is not able to give me a respond
That is the chat between Alan & ForexGen as they sent me:
[17:44:25] info: You are now chatting with ‘Rooney’
[17:44:25] info: Your Issue ID for this chat is LTK7504364874X
[17:44:30] Rooney: Welcome to our live chat service.
[17:44:32] alan: hi Rooney
[17:44:34] Rooney: Allow me to introduce myself as your chat representative…
[17:44:34] Rooney: Hello. How may I assist you?
[17:44:38] alan: I got a issue for you
[17:44:46] alan: with an IB of yours
[17:45:35] alan: alessandro0003m is his handle
[17:45:43] alan: he goes around spamming forums about ForexGen
[17:45:48] alan: I don’t think you’d want him to do this
[17:46:04] alan: he’s only going to build up a bad repuation for ForexGen
[17:46:50] Rooney: Please hold on one moment Sir.
[17:47:04] alan: k
[17:48:13] info: Please wait while I transfer the chat to ‘Mac’.
[17:48:19] info: You are now chatting with ‘Mac’
[17:48:19] info: Your Issue ID for this chat is LTK7504364874X
[17:48:42] Mac: hello sir
[17:48:45] alan: he Mac
[17:48:54] alan: have a slight complaint to make about one of your IBs
[17:49:08] Mac: sure sir what is that
[17:49:14] alan: I think this fellow is doing more harm to your reputation than good by spamming forums
[17:49:31] alan: using fake handles to initiate false conversations to lure people into signing up with your company
[17:49:41] alan: harassing anyone who posts negative comments about forexgen
[17:51:33] Mac: ohh sir thanks for your opinion i will inform the administration about this issue thank much
[17:51:52] alan: np, he even got on my forum and now he won’t stop
[17:52:08] alan: I hope you guys tell him to please stop doing this
[17:53:03] Mac: ok sir , i don’t know what exactly they will tell him
[17:53:20] Mac: because i dont have a list for all our IB’s
[17:53:34] Mac: so i will inform the administration
[17:53:38] alan: ok
[17:53:44] alan: wish I could give you his name
[17:53:47] alan: but i don’t know it
[17:53:50] alan: just his handle on forums
[17:54:13] alan: thanks for your help though
[17:54:19] Mac: thanks so much for your care about our company
[17:54:26] alan: np
[17:54:33] Mac: are you interested in forex
[17:54:44] alan: not really
[17:54:57] alan: but thanks for the offer
[17:55:06] alan: have a great day
[17:55:24] Mac: you too sir
So what will you say if you knew that Alan baned me from his forum after chatting with forexgen
& I want to enter & give him reply but he banned me & my IP & everything related to me
So who he is winner ?
I don’t want to know the winner but I want to tell all of you that he is loser & I will sign up there from different IP from different place with different username I will try to pick username like this one here.
That’s all what happened between me & those bastards
Something else I’m doing some promotions for me as a broker for forexgen not promotions for forexgen & that is a normal for any IB as you know
So Try to be far of Felix & his activities
Alan & his forums
Pharaoh & his replies
Judge with Fair
Judge after searching about felix & his activities
Judge about forexgen after trying to speak with one of it’s clients
ForexBastards Scam | Forex Scam | Forexpeacearmy.com (Review that)
http://www.forex-tsd.com/metatrader-…e-too-late.htm
February 13th, 2008 at 4:22 am
Yes Alessandro and I stand by my ban 100% and I will not lift it. I got tired of you spewing your lies and accusations.
This is the kind of crap this guy posted:
“”Do u saw your self in the mirror while posting this post lol I feel that your face color was like the mature tomato in the ground”"
I mean, c’mon, are we in kindergarten here or what!?
Seriously folks this guy thinks I’m somehow “Felix” in disguise and that somehow there is a big conspiracy to bring down poor little Alessandro and ForexGen.
The fact that you had the bad taste to paste my PRIVATE conversation with ForexGen staff is bad enough, but even worst is the fact that ForexGen staff wre unprofessional enough to e-mail you the chat log IN FULL. Evidently there weren’t able to persuade you to stop spamming and I have no doubt that you will continue to post spam on forums and continue to bad mouth anyone who disagrees with you or has anything bad to say about ForexGen.
I’m afraid you lost this battle Alessandro, so please get lost. Go promote your company somewhere else!
If people want to see the web of irrational nonsense you strung they are more than free to checkout my forum.
http://alansmoneyblog.com/forum/index.php?topic=1950.0
P.S I’m going to be moving the forum to a new domain soon but curious parties need not worry as I will still have the full ForexGen thread for your viewing displeasure.
July 11th, 2008 at 3:28 am
Hello, actually I didnt get the point of the argument but the facts are: I have(had) an account with ForexGen, it’s at 0$ and been inactive for 4-5months. I decided now to fund and trade again but I got a problem with the login. Of course I went to “LIVA CHAT”. They where online. In the 5-6hours I was trying to talk to them I got IN the chat 8-9times and immediatly disconnected. OK I said, than I will open new account at my wife’s name(this way I’ll get the bonus too). I begun the registration and came to Country….gues what???? NO NORWAY(I live in Norway and one of theirs accounts are at Nordea bank at my town where I deposited CASH)….And even more…have you noticed the slogan:” Swiss precision - Scandinavian quality”?….Scandinavian….with bank in Norway…had office in Oslo…and NO NORWAY IN THE LIST OF COUTRIES?????? COME OOOOOONNNNNNN!!!!!
July 11th, 2008 at 2:46 pm
lool…that’s hilarious..My guess is that they don’t want Norwegians as clients because they were perhaps not have the proper financial licenses required to deal with domestic clients.