Plus500 - This is investment fraud
Plus500 implies that investors are provided with excellent conditions to make money online trading as fast as it is safe. At Plus500, everything is investment fraud. Not a cent has been invested. The money has landed right in the pockets of the investment scammers. Nothing is traded at Plus500. Everything the investor sees on his screen is fake. How does the investor get his money back? What help is there for investment fraud? What can investors do who have been scammed by Plus500?
Plus500: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Plus500 makers is that the website does not contain an imprint. Thus, the full details of the legally responsible operators of the website are missing. If one takes a look at the domain data of the Plus500 website, there are no references to the operators to be found.
Plus500: Who is behind it?
Answering this question will be rather difficult for many investors, as the Plus500 makers do everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators mostly operate several of these websites with the same fraudulent business model. These are created in advance, quickly put online and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? On Plus500's website there is only sparse information about this. In addition, there is the obligatory support email address and the telephone number +447476547304. A worldwide search for Plus500 in the relevant registers leads to no results. That clarifies that it concerns in this case a pure fantasy product.
Plus500: The customer acquisition of the investment cheats
Here the same procedure is found again and again: In order to acquire new investors the recommendations of Plus500 in all only conceivable media and channels are advertised. Often enough, the offers are false information. they upload image films on Youtube or Vimeo, in which interested investors are convinced with false 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". With the same intention, a mostly aggressive affiliate program is launched to incite others to intensively promote Plus500.
Plus500: 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 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. Usually the investors start with a small sum as employment. Beforehand, investors are also 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 subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently 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. In some cases, even small sums are returned in order to lull investors into a sense of security. Who then does not want to further increase the stakes? But what happens next?
Plus500: Repayment of the money is linked to conditions
Once in, an exit is mostly impossible. Rather, the administrators of the investment scammers tie a repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits, is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" 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 "savior" also wants a small fee - in advance!
Plus500: Scheme of investment fraud?
There is no authorization of the online broker Plus500. Plus500 lacks the legitimacy of a recognized European supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from the FCA dated 01.02.2021. It is also evident that Plus500 is a scheme of capital investment fraud. All investors harmed by Plus500 should be advised to consult an investment fraud lawyer immediately.
Plus500: where do the scammers operate?
There is no doubt that Plus500 investors are dealing with investment fraud in Germany, Switzerland and Austria. The illegal activities of Plus500 were by no means limited to the DACH region. Because Plus500 equally addresses English-speaking investors, it is only a matter of time until the defrauded of this speaker group come forward. A look at the list of regulators is advisable before any financial commitment to reduce the risk of becoming a victim of investment fraud.
Plus500: Investors want their money back!
The situation is by far more promising than it seems. The aggrieved investors can take legal action against those involved in the investment fraud and reclaim their invested capital. As of today, it is not likely that the investment fraudsters of Plus500 will be seized in a timely manner, but there is still reason to hope. Especially because the transactions of the funds went through accounts that were actually provided by reputable banks. They have demonstrably failed to check the investors' deposits, some of which were high and therefore subject to controls, and their forwarding for illegality. Such delinquencies made possible the investment fraudsters their criminal work only.
Plus500: They want their money back! How does it work?
Equipped with this knowledge, investors would never have gotten involved in an investment at Plus500. Now the only option left to them is to seek recovery of the misappropriated capital. Many investors cannot even imagine that there is any real chance of ever seeing their money again. Probably all of them are now wondering if they can get 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 crime of money laundering is committed. Financial institutions have a duty to take action against money laundering. This is where one starts with good chances of success. First, important points must be clarified. Where were the funds embezzled from Plus500 taken? Is there a realistic chance that the bruised investors will get back the money they invested with Plus500? What measures should be taken from now on? Gladly a lawyer specialized in investment fraud will answer such questions thoroughly.
Plus500: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can the victims of Plus500 hope for? The victims of Plus500 will ideally find the help they need from an experienced investment fraud lawyer. He is able to take care of your case with Plus500 both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading also comes into question, because the methods of fraudulent brokers, such as Plus500 are also known to him.
Plus500: Follow the money!
Abuses of such kind on the not regulated capital market pursue the internationally active Anlegerschutzkanzlei Resch attorneys for more than three decades. The way of the Plus500 is thus nothing new. Over the years, Resch Rechtsanwälte has developed an efficient set of tools for tracking down stolen capital and tracing the flow of funds. Making funds really disappear is becoming increasingly difficult in the age of the Internet. The faster investors follow the money trail, the more promising it is that they will see their invested capital again. Above all, it is important that those harmed by Plus500 react immediately.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of Plus500 and want 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.
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