SeedChange - Warning by California Regulatory Authority
The supposed online broker SeedChange sells itself as a trustworthy platform for online trading. However, there is ample evidence that everything at SeedChange is far from straight. More and more traders are coming forward talking about telephone terror, rip-offs and investment fraud at SeedChange. All have lost their capital invested with SeedChange. Serious doubts are announced. Meanwhile, many investors of SeedChange are afraid that it is an investment fraud. All investors of SeedChange ask themselves whether they have become victims of investment fraudsters? And what can SeedChange investors do if the suspicion of investment fraud is substantiated? Will SeedChange investors get their money back? Does it make sense to file a criminal complaint against SeedChange with the police? What help is available in the event of investment fraud?
SeedChange: Doubtful affirmations on the website www.scesi.com!
What must the perplexed investors receive on scesi.com? "Seedchange is an investment platform founded in San Francisco in 2012...Since then, we have come a long way and have become one of the most progressive companies identifying and offering investment opportunities in companies with growth potential as well as in various innovative startups and projects.... Our experts use an intensive 90-step analysis process to find the most profitable and promising offerings, ensuring a high return on your investment...Securities are offered through Seedchange Execution Services, Inc, an SEC USA and FINRA | SIPC registered broker-dealer...We also provide support at all stages of the investment process, from signing an investment agreement with a company to receiving the profits." That's just a small sample of the questionable claims that the curious can find on SeedChange's website. Not a single one of these given assurances by SeedChange has been kept. Unfortunately, the questionable business practices tend to make for unhappy investors and miserable experiences!
SeedChange: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the SeedChange makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If one takes a look at the domain data of the web page of SeedChange, no references to the operators are to be found there. However, one learns that the domain was registered with NameCheap, Inc. as recently as Aug. 17, 2012. The real domain owners hide behind the Icelandic anonymization service Withheld for Privacy ehf.
SeedChange: Who is behind it?
Answering this question will be rather difficult for many investors, as the SeedChange 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? There is scant information about this on the SeedChange website. The two companies Seedchange Execution Services Inc. and Seedchange Inc. with the business address 415 Jackson Street, Suite B San Francisco CA 94111, United States are stated, but the makers of SeedChange cannot be found under this address. In addition, there is the obligatory support e-mail address and the US telephone number +16282262367. Previously, the scammers lured customers into the trap with the predecessor domain SCinvesting.com.
SeedChange: The customer acquisition of the investment scammers
Here, the same approach can be found again and again: In order to win customers, the offers of SeedChange are advertised in all available media and channels. In most cases, these offers are false claims. To increase the deception, they upload films on Youtube or Vimeo in which interested investors 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". At the same time, an affiliate program is often launched to incite others to intensively promote SeedChange.
SeedChange: 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?
SeedChange: repayment of the money is linked to conditions
Once in, exiting 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" wants a small fee - in advance!
SeedChange: scheme of investment fraud?
There is no authorization of the trading platform SeedChange. SeedChange lacks legitimacy by a recognized European supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is frequently 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 Department of Financial Protection and Innovation (DFPI) dated 29.10.2020 (dfpi.ca.gov/2021/08/04/scinvesting-com-is-fraudulently-posing-as-california-licensed-broker-dealer-seedchange-execution-services-inc). This warning was updated on 04/08/2021. DFPI is the financial market and financial services regulator in California. It is easy to see that SeedChange is a scheme of capital investment fraud. All victims of SeedChange are advised to consult an investment fraud attorney immediately.
SeedChange: Where are the investment scammers actively operating?
Without a doubt, SeedChange traders are dealing with investment fraud in Germany, Switzerland and Austria. Unfortunately, SeedChange's activities are not limited to the DACH region. Because SeedChange equally addresses French- and Italian-speaking investors, it is not surprising that the defrauded also come forward from these speaker groups. Going through the list of regulators is advisable before any financial commitment to reduce the risk of becoming a victim of investment fraud.
SeedChange: Claims for damages against banks
Anyone wishing to provide financial services and investment transactions in Germany requires a permit from the German Federal Financial Supervisory Authority (BaFin). It is prohibited to conduct, support or facilitate such business, even across borders into Germany. Companies and persons who nevertheless participate in such transactions are obliged to pay damages to the victims. Such investment fraud cases would certainly not have been conceivable without such banks.
SeedChange: Investors want their money back!
The constellation is by far more promising than it seems. The aggrieved investors can defend themselves and demand their invested money back. At the moment it is rather not to be expected that the investment fraudsters of SeedChange are seized soon, nevertheless there is cause to hope. Especially because the transactions of the funds were made through accounts that were actually provided by reputable financial institutions. They demonstrably failed to check the investors' deposits, some of which were large and therefore subject to controls, and their onward transfer for legality. Such delays made the investment fraud possible in the first place.
SeedChange: They want their money back! How does it work?
Equipped with this knowledge, no one would have gotten involved in an investment with SeedChange. Now the only option left for the defrauded is to seek recovery of the misappropriated capital. Many investors cannot even imagine that there is a 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. Essential points should be clarified in advance. To which destination have the funds moved by SeedChange been shipped? Are there realistic prospects that the victims of the investment fraud will get back the money they invested with SeedChange? What precautions should be taken next? An attorney specializing in investment fraud will be happy to answer such questions thoroughly.
SeedChange: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can victims of SeedChange hope for? SeedChange victims will ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your SeedChange case both in terms of the criminal aspects of the investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility, because he is also familiar with the methods of fraudulent brokers, such as SeedChange.
SeedChange: Follow the money trail!
So geartete abuses on the grey capital market pursues the Anlegerschutzkanzlei Resch attorneys for over 30 years. The approach of SeedChange is in this respect nothing really new. Over the decades, Resch Rechtsanwälte has developed some sustainably strong tools for tracking down defrauded investments and tracing money flows. In the age of the Internet, it has become almost impossible to make funds truly disappear. The sooner investors track the money, the better the chances of getting their invested capital back. It is now important that investors harmed by SeedChange take immediate action.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of SeedChange and want to know if and how you can get your money back, call 030 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.
Here the free
Initial assessment of your case to the form
Investor protection since 1986 Resch Lawyers
Let us help you!
+ 49 30 / 88 59 77 0