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  1. #1
    Join Date
    Jan 2012

    Options Scam Targeting EU in China

    I just clipped this from a Chinese newspaper I picked up at the Beijing Capital Int. Airport a few days ago while traveling there:

    Eastern Europeans Busted on Options Scam

    Hong Kong Police today arrested 20 Romanian nationals allegedly operating an online financial services website that has defrauded European nationals already numbering in the the thousands.

    The syndicate, operating under the names, Longwood Trading and Friedman Global Inc., apparently offers Options Contracts on various commodities such as gold and oil to unsuspecting investors.

    To legitimize their operations, they set up websites of false governing bodies where the victims can check their supposed 'credentials'. The Shanghai Derivatives Exchange and the Singapore Commodities Exchange are examples of these sham sites.

    The principal directors of this group have already posted bail and are currently awaiting trial.

    In related news, a group of investors that were defrauded in this pyramid scheme has sought representation from an Ohio based law firm with a satellite office in Hong Kong. They are now in the process of finalizing an out of court settlement.
    Has anyone been hit by these people?

  2. #2
    Join Date
    Feb 2006

    Re: Options Scam Targeting EU in China

    go to www.cftc.gov for free background check on anyone. the offshore traders are usually those who lost their licenses in US

    see also ww.incisiveelearning.com and www.incisiveelearning.com/risk both are online courses from eRisk library on derrivatives,options,FOREX,etc. ,Gordon Compson. the field is very very difficult to learn. so watch out for the phony websites.

  3. #3
    Join Date
    Jan 2012

    Re: Options Scam Targeting EU in China

    Hi guys, just came back from another China trip and I found another article!

    Chinese police have arrested another group affiliated with boiler room scam; the companies that have been listed include Stratford Securities Trading, JD Trading and Blake Morgan Financials. 12 foreigners operating in Shanghai have been rounded up and are awaiting trial in the Intermediate People’s Court.

    So far there has been no confirmation that this group is affiliated with another boiler room bust earlier last month.
    Wow, are all these scams coming from China now?

  4. #4

    Re: Options Scam Targeting EU in China

    Hi maxi02, can you please take contact with me (concerning Kaimon Global, longwood trading)

  5. #5
    Join Date
    Nov 2010

    Re: Options Scam Targeting EU in China

    I think you should be travelling to China more often !

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