Maxim Trader Scam
Now replaced mostly by mythical “crypto trading” schemes, a few years ago MLM forex trading scams were all the rage.
Recently, I was asked about an investment company Maxim Trader & whether is it a scam?! Maxim Trader mainly focuses on Forex trading. Its very high returns & focus on recruitment incentives does raise some questions. Some observations are shared as per below. Updated: Jun 22, 2017 As a note to all Web Visitors, there is the right available to. The Hong Kong Court of First Instance has granted interim orders against Maxim Capital, which operates under the brand name Maxim Trader, in relation to legal proceedings, initiated. Read more1 Latest forex news and scam warnings FMA Warns of Increased Investment Scam During the Pandemic. Runs and drives as it should. New condenser and injectors in 2020. All new LED lights. Call Melvin (715)) 223-4989. Maxim Trader, which was red-flagged by Bank Negara, had more than 50,000 investors. It is said to have amassed more than RM20 billion in funds since its inception in 2013. Three Malaysians, a datuk seri and two datuks aged between 30 and 60, were said to be the founders of the company while several foreigners were appointed to top positions as.
Maxim Trader Scam Customer Service
A number of the schemes originated out of Malaysia and surrounding countries, although most operated through shell companies incorporated in New Zealand, Australia and various Pacific island nations.
One such scam was Maxim Trader, which promised affiliates a monthly ROI of up to 8% on $5000 to $10,000 investments.
Maxim Trader affiliates were of course also paid to recruit new investors through an MLM compensation plan.
Maxim Trader was billed as a Malaysian company with ties to shell companies incorporated in Seychelles and New Zealand.
The scheme launched in mid 2013 and collapsed two years later in 2015.
Maxim Trader Scam Alert
At the time an estimated 50,000 investors across Malaysia, Japan, South Korea, Taiwan, Hong Kong, Australia and Singapore were believed to have lost around $5 billion USD.
Although it was widely circulated that Maxim Trader was owned by three Malaysian Datuks, turns out it was actually run by three Singaporean nationals.
On Tuesday January 9th Maxim Trader CEO Andrew Lim Ann Hoe and accomplices Chin Ming Kam and Goh Seow Mooi faced court on charges of promoting a pyramid selling scheme.
On Tuesday, the court heard that Lim is also accused of causing Maxim Capital Limited to carry on a business of fund management without holding a capital markets services licence granted by the Monetary Authority of Singapore.
He intends to plead guilty to his offences and will be back in court on Jan 24.
Chin and Goh allegedly carried on a business of leveraged foreign exchange trading without holding the same licence. Their cases have been adjourned to Jan 23.
If convicted, Lim, Chin and Goh face prison sentences of up to five years and a $200,000 fine.
No word on where the $5 billion Maxim Trader took in wound up. Following Maxim Trader’s 2015 collapse it was reported that an 90% of funds invested were simply “gone”.
Ouch…
Related Posts:
- Thirteen Maxim Trader scammers sentenced to prison in Taiwan- Oct 13th, 2018
- Sener Trader scammers arrested in Japan ($73M bitcoin Ponzi)- Nov 15th, 2018
- SingliWorld scammers arrested, facing prison time and fines- Jul 5th, 2018
- Three FX United Datuk scammers arrested in Malaysia- Feb 15th, 2018
- SwissGolden scammers arrested in Nigeria, $601,600 recovered- Apr 19th, 2018
Find out if Maxim Trader is a Scam and the Steps Required to File a Maxim TraderChargeback
Maxim Trader was identified to be operating under questionable business practices and is suspected to be a scam broker. Chargebax recommends that users do not invest with this company and if you are already involved, to contact them right away to cash out your funds. If you have experienced the following with Maxim Trader, it’s more than likely that you have been scammed or are involved in a scam. We therefore advise that you file a complaint and report a scam against Maxim Trader as the first step to recover your funds.
Reasons to Suspect Maxim Trader is Operating a Online Investment Scam
- Maxim Trader froze your account
- Maxim Trader blocked your account
- You cannot login back into your account
- Money has been taken out from the account
- Maxim Trader doesn’t take your calls
- Maxim Trader shut down their website
- You noticed that Maxim Trader took money out from your bank account without your permission
- Maxim Trader is offering a bonus
- Maxim Trader is offering to fund more money into the account after you lost a large sum
How to Report a Scam and File Chargebacks
If you made a payment with your credit or debit card to Maxim Trader then you qualify to recover your funds with a credit card chargeback.The best chance to successfully recover your funds is to start the chargeback process as soon as possible.
Start by filling in the following form and a representative will contact you to provide you with all the information you need to know in order to get your chargeback started today.