Fides UK - Dubious Online Broker

The alleged online broker Fides UK claims to be a reputable platform for online trading. However, there is increasing evidence that there are considerable shortcomings at Fides UK. Reports are accumulating from traders about Fides UK, talking of telephone terror, rip-offs and investment fraud. All have lost their money invested with Fides UK. Doubts are being raised. Meanwhile, many Fides UK traders fear that it is an investment scam. The Fides UK website has not yet been shut down. All Fides UK investors are wondering if they have been victims of an investment scam? And what can Fides UK traders do if the suspicion of investment fraud is substantiated? Will Fides UK investors get their money back? Does it make sense to file a criminal complaint against Fides UK with the police? What help is available in the event of investment fraud?



Fides UK: Transparent promises on!
What is being served up to the dumbfounded prospective customers at "Our clear purpose is to improve financial lives through the power of every connection. We fulfil this purpose through our commitment to responsible growth, focusing on environmental, social and governance issues. This focus, which spans our eight businesses, reflects our values, ensures that we hold ourselves accountable, provides tremendous business opportunities and enables us to succeed together with our customers and communities. We have a long-term commitment to the economic and social well-being of communities and operate in more than 35 countries across Europe, the Middle East and Africa, Asia Pacific and the Americas." This is just one small passage of the implausible promises that the curious can find on the Fides UK website. Not one of these full-bodied promises by Fides UK has been kept. Unfortunately, the disturbing business practices tend to make for unhappy traders and miserable experiences!


Fides UK: Hide and seek domain entry!
Remarkable for the business practices of the Fides UK makers is that the website does not contain any imprint with full details of the legally responsible operators of the website. If one looks at the corresponding domain data of the website, one finds no reference to the operators there and finds that the website was only registered on 11.08.2021 and that the real domain owners are hiding behind the anonymisation service Privacy Protect, LLC. 


Fides UK: Who is behind it?
Many investors will find it rather difficult to answer this question, as the Fides UK makers do everything they can to conceal the true circumstances. This is not unusual, however, as the perpetrators often operate several of these websites with the supposedly same business model and quickly put them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? On the website there is only sparse information on this. The following information can be found in the contact details:

" Tel: 00442038371975
Company registration number: 13573425
Address: 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ
Address 2: Building 18, Gateway 1000 Whittle Way, Arlington Business Park, Stevenage, Hertfordshire, England, SG1 2FP
Ceo: Michael Choi"


In fact, a Fides Global Ltd can be found under the specified registration number in the British company register, which also has its official registered office at 71 - 75 Shelton Street in London. However, the company was only founded on 18 August 2021 by the Briton Usman Saeed Shah with a share capital of just GBP 100, i.e. around € 119.


Fides UK: The customer acquisition of investment fraudsters
The same approach can be found here again and again: Fides UK's recommendations are propagated in every conceivable media and channel. For example, advertisements are placed in social media such as Facebook. Often enough, these are false promises. Furthermore, they upload promotional films on Youtube or Vimeo in which interested traders are convinced with fictitious references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". In parallel, an affiliate programme is usually started to spur others on to beat the advertising drum for Fides UK.


Fides UK: Criminal business practices!
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their many years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Investors usually start with a small amount of money. Beforehand, investors are often motivated to install remote maintenance software, such as "Anydesk" or "Teamviewer" on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?


Fides UK: Repayment of the money will be subject to conditions
However, an exit is then usually no longer possible; rather, repayment of the money is linked to further payments. This is where the employees come in, claiming alleged tax debts and commission payments. These would first have to be settled, then the alleged profits would be paid out. For this purpose, tax and commission invoices are sent to the investors, which are often decorated with fake coats of arms and, of course, have to be paid urgently. However, it is never possible to offset them against the supposedly achieved profits. If one refuses to make these further payments, the supposed profits are often turned into losses and the customer is harmed to the maximum. However, this is usually not the end of the horror; investors are often permanently confronted with calls from other dubious providers, which indicates that the investors' contact details are further traded among the investment scammers. In the end, the "saviour" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course the "saviour" also wants a small fee - in advance!


Fides UK: Scheme of Investment Fraud?
There is no authorisation of the online broker Fides UK. Fides UK is not regulated by a recognised European financial supervisory authority, such as the English Financial Conduct Authority (FCA)or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Similarly, there is no authorization from the Swiss Federal Financial Supervisory Authority (finma) or the  Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. It is easy to see that Fides UK is a scheme of capital investment fraud. All investors harmed by Fides UK are advised to consult an investment fraud lawyer without delay.


Fides UK: Where do the fraudsters operate?
Unfortunately, the illegal activities of Fides UK are not limited to the English-speaking world. Because Fides UK also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. Going through the list of supervisory authorities is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.


Fides UK: Investors want their money back!
The situation is far more promising than it appears. The aggrieved investors can take legal action against those involved in the investment fraud and reclaim their invested capital. As of today, it is rather unlikely that the Fides UK investment fraudsters will be apprehended soon, but there is still reason for hope. Especially because the transactions of the money went through accounts that were actually provided by reputable financial institutions. Those responsible apparently failed to check the traders' deposits, some of which were large and therefore subject to controls, and their forwarding for illegality. Such delays made the investment fraud possible in the first place.


Fides UK: They want their money back! How does it work?
Equipped with this knowledge, no trader would have got involved in an investment with Fides UK. Now the only way left for the victims is to seek compensation for the loss. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where we start with good prospects of success. Relevant questions must be answered in advance. To what destination were the funds misappropriated by Fides UK taken? Are there realistic prospects that the aggrieved traders will get back their money invested with Fides UK? What measures are now obligatory? You can get the answers to these questions from a lawyer specialising in investment fraud.


Fides UK: Who can help?
What to do in case of investment fraud? What help with investment fraud can victims of Fides UK hope for? Fides UK victims will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your case with Fides UK both in terms of the criminal aspects of the investment fraud, as well as the recovery of funds and possible compensation claims. A trading lawyer is also an option because they are also aware of the methods used by fraudulent brokers such as Fides UK.


Fides UK: Follow the money trail!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating abuses of this kind on the grey capital market for more than three decades. In this respect, the actions of Fides UK are nothing new. Over the course of time, Resch Rechtsanwälte has developed a powerful set of instruments for tracing the money that has been withdrawn and following the money trails. Making funds actually disappear has become almost impossible in the age of the internet The sooner traders follow the money trail, the better the chances are that they will get their invested capital back. Above all, it is important that investors harmed by Fides UK take action without delay.


RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of Fides UK and would like to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.