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.