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JimLawyer
JimLawyer, Solicitor
Category: Law
Satisfied Customers: 6469
Experience:  Senior Associate Solicitor
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I had money in the stock market and asked to close account

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I had money in the stock market and asked to close account and withdraw money the firm said leave it two weeks and see if we can make profit after two weeks told them I would like to withdraw full amount they advised it would be quicker to send it via coinipop all this was above my headthru Skype and any desk he guided through the process to my horror at the end they had taken 2300 out of my bank and not put it in he said I had made the mistake but I was under his instruction so now they had more money of ours after many Skype conversations the man said he would pass it to accounts department for full refund next day accounts phoned me to say I would have to pay the tax of 500 dollars then they would issue full refund within 3 days this was two weeks ago they are ignoring any form of contact
JA: Where are you? It matters because laws vary by location.
Customer: Wales
JA: What steps have you taken so far?
Customer: only e mailed and Skype cannot call as when you phone number it says insufficient funds
JA: Anything else you want the Lawyer to know before I connect you?
Customer: the bank was at fault for letting money go as we did not have that in bank but trading royals were told the situation said they would refund asap this has left us in tricky situation as we had to borrow money to clear unauthorised overdraft

Hello, this is Jim and I am a dual-qualified lawyer (UK and Republic of Ireland) and happy to help you this evening.

Is the question about making a complaint to the bank? Or to recover the money back from the trading company?

Customer: replied 12 days ago.
to recover money back from trading company
Customer: replied 12 days ago.
I'm sorry but we just cannot afford that

That's fine. Which company is it?

Customer: replied 12 days ago.
trading royals

Thanks, I have just checked and that trading company is not regulated according to the Financial Conduct Authority (the FCA). Therefore I am almost certain this is a scam and they have just taken your money.

You should take note of the following. The first thing to do is to report this to the Police and to Action Fraud so that you can obtain a crime reference number. The Action Fraud website where you can report the crime is here: http://https://www.actionfraud.police.uk

Once you have done that then see if your bank or credit card company can do a charge-back on the monies as a lot of these trading companies are not legitimate outfits. Your bank may be subscribed to the "voluntary code" to refund you if you have been scammed. The bank can charge-back up to 120 days from the date you sent money or paid money to a scammer.

In future my advice is to check whether the trading company is FCA-regulated first of all to ensure they are legitimate. You can check here : https://register.fca.org.uk

The FCA website has a list of regulated companies so this would be worth checking.

If there is no record, I would urge caution and do not give them your personal details, nor any money. The reason being if they are unregulated, there is nothing the FCA can do and in all likelihood the company is based abroad so suing them would be difficult if you wanted your money back. Most of these companies also ask for the initial £250 up front and tempt you to add more funds only for them to become non-responsive when you ask to withdraw.

There are a few companies who can claim to retrieve monies taken by a scammer but in reality they are also scams - once a scammer has the money it would be very difficult to sue them (being based abroad) and even if you obtained a CCJ against them, enforcing it is another matter.

You can try https://www.selachii.com/advice-for-victims-of-bitcoin-fraud.html to see if they can help but insist on a no win no fee agreement with them and do not pay anything up front to them.

I hope this helps - if you can please accept the answer and give me a 5 star rating (there should be a button at the top of your screen to do this), I can answer follow up Q&A's at no extra charge and Just Answer will credit me for helping you today.

Many thanks,

Jim


 

JimLawyer and 2 other Law Specialists are ready to help you
Customer: replied 12 days ago.
this company has a London address
Customer: replied 4 days ago.
Can you tell me why 40 pound has been took out of my account when I clearly stated we could not afford it