Chris Williams Ponzi Scheme.

Discussion in 'Trading' started by TraderBontu, Oct 6, 2009.

  1. This thread concerns an Investment Pool operated by Chris Williams (a.k.a The Wasp).

    Although tiny compared to Madoff etc this scheme could still result in losses of thousands and possibly tens of thousands for some investors.

    The investment pool was originally marketed as an informal Spread Betting Syndicate circa April 2009.

    18 initial investors each put in £250.

    Some members of the pool became suspicious that the Account Statement updates being emailed to all members of the pool were being fabricated.

    These members asked to leave the pool and withdrew their funds including profits.
    They were given returns of between 200 to over 1000% within a few months, depending on the time of withdrawal.

    The pool operator(s) began to market the pool to second and third tier investors (latecomers). Minimum investment limit was raised to £5000.

    The pool is currently operating out of an account held with DukasCopy FX (see attachment).

    As of September 25 2009 the pool operator claimed pool funds to be over £400,000.

    It is believed the pool operator has now left the country from where the pool was initially started (the United Kingdom).

    Therefore pursing this matter with the local authorities is likely to lead nowhere.
  2. Could you get in touch with me by PM on T2W?
  3. It should have been obvious looking at that statement.
    Not only do Dukascopy not have account numbers that include ***
    But most telling of all is Dukascopy demo accounts are 6 digits and all start with a 1.
    Dukascopy live accounts are five digits and start with anything.
    That statement therefore is for a demo account and has been altered to make the ***'s

    There are many more documents like this, wonderful powerpoint presentations with fantastic returns projected, all designed to hook much bigger fish than a small spreadbetting pool.
  4. guys can we hold off on this for a bit please? From the experience of the t2w epic thread thing it's better to get it all in one go.
  5. oh goody T2W epic thread - part 2

    subscribed :)
  6. lexcorp


    I declined the offer to invest! I like to do things on my own. i thought Wasp was supposed to be an amazing trader though? Was it all a lie?? I saw him post some good realtime calls?
  7. Everybody is a great trader on the internet. Live calls. Ha, don't make me laugh.

    If a guy can't produce a single statement that even remotely looks real, I'd say it's a fake.
  8. Yeah tbh I'm thinking sod it, let's start drip feeding again :D

    But there's a good evidence "dossier" being put together and it may be best to lump it all in one go. Much harder to argue with with stupid excuses like you can with one point, for a start ;)
  9. AK100


    Anyone that invests in a "Spread Betting Syndicate" is looking for trouble.

    Never ceases to amaze me just how many spivs there on the perifial of the markets.
  10. Ah, might as well start a drip feed or two, why not.

    Let's start with: Spot the difference!

    These two statements were sent to two different sets of folk.

    Can you reconcile the two different versions of 14th and 15th September? Are they both the same account (they're supposed to be!)? Is it FX fluctuations? Is it a mistake in Dukascopy's back office?

    Or is it a bunch of meaningless numbers?

    You decide!
    #10     Oct 6, 2009