This is the sketch; fake companies are being set up on the basis that they are an investment platform that will turn your investment, let’s say £3000 into £50,000 in 2 months and you can withdraw it after 60 days (or something similar).
So, a nice bit of sales patter and the thought of this amazing opportunity makes you say YES, here comes mistake number 1.
You send them the money (usually they want it in Bitcoin because it’s harder to trace) and then the journey begins.
They will send you beautifully crafted fortnightly or monthly reports showing these unbelievable gains on your investment.
You are walking down the road with a spring in your step thinking, I’m in the money!
They then ask you to top up your current investment to make even more money, with even better gains, so you add more cash to the investment and you see even more attractive reports until you either run out of money or say no, enough is enough, I can’t put any more into this.
They will also try tactics against you by saying that it will affect your current investment if you don’t add more money and use pressurising tactics to make you feel stupid if you don’t add more money.
Next comes judgement day, you are ready to withdraw all this wonderful cash that this fairy tale company have created for you from thin air and here comes the genius part from the scammer, they say you can’t withdraw your money till you pay the commission to the company and despite your efforts to get your cash out, they will say, that is just how it works, it’s in the small print and unfortunately you cannot withdraw any funds until they receive that payment.
So, now you are looking at this lovely (imaginary) £50,000 that you think actually exists and what a great deal, now you only need to pay somewhere between 10–15% to get it. (most people smell that something fishy is going on at this stage)
Those that are still bought into the fairy tale, end up sending more money, so they can withdraw that £50,000 and start “enjoying life on their terms”.
The problem is the company does not exist, the person is a scam artist and you will most likely never see your money again!
If it sounds too good to be true, it normally is!
We are dealing with numerous clients that have had this happen to them and felt compelled to share this with the world, we are doing everything we can to name and shame these people and in some cases, we have been able to recover some of the money for our private members.
REMEMBER THIS!…. You never REALLY own anything, unless it’s in your own hands!
This is why education is so important and is one of the many things that we teach our private members on our beginners course, you need to know how to avoid these scams and pitfalls to fast track yourself to success when investing or trading in cryptocurrencies.
If you have had or are currently experiencing something similar to this, You may be at risk of losing your money.
Come and speak to us for help, advice and to learn everything about cryptocurrency investment.
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