Shocking News: Forex Trader Steals Around $3.5Mil From Over 1000 Different Recruits, People Everywhere Realize It's A Scam
A 'get rich quick' Instagram trader scammed more than 1,000 investors by emptying their accounts on Christmas Eve in a suspected £3.5million fraud, it has been claimed.
Gurvin Singh, 20, is believed to have convinced as many as 1,250 people to join his 'copy trading' scheme with social media pictures of his jet-setting lifestyle.
Investors say he messaged them claiming he was an authorised Foreign Exchange (Forex) trader, promising guaranteed profits of up to £300 a day and that they could withdraw their money at any time.
But after a few months of healthy returns, alleged victims claim they saw their trading accounts plummet.
If you told me that people involved in Forex are getting scammed, I simply wouldn't have believed you. For those of you who don't know what Forex is, it's pretty much a big ole pyramid scheme that a lot of college-aged kids are getting caught up in with the somewhat hollow promises to get rich quick. Textbook pyramid scheme stuff. I actually happen to know a good bit about the racket because my hometown is littered with cretins who push it on everyone and anyone they see.
As you can imagine, these aren't necessarily the brightest human beings alive. So to hear that over a thousand recruits got their shirts pulled over their heads by a higher-up for a cool £3.5million ($4.57million), weirdly excites me. I was pretty excited to look at our friend Gurvin's Instagram page but it looks like he's deleted both of them. What a shame, there is nothing more entertaining - yet in some ways scary seeing how serious people get into this shit - than going through a forex Instagram. I guess they are pretty much all the same though so here's an example:
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In most cases, this is what you'll see. Fake followers, calling themselves entrepreneurs despite not actually knowing the definition, calling their phones mobile ATMs because they're "all bout that money", fitness photos where their dick is borderline hanging out, and usually a couple of posts saying how they are definitely not in a pyramid scheme.
I just hope all the people involved with all of this forex garbage can come back to reality, get a job and make an honest living rather than prey on the mentally weak. This way, there is a minimal chance you get scammed at all*. It's just sad to see.
*unless you refuse to double-check the email address when being asked for large amounts of money. You'd have to be an absolute idiot to fall for Nigerian Prince schemes.
If you need help finding out if you are actually a part of a pyramid scheme. Click Here.