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Global Trading Club Reports & Reviews (2)

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Bitcoin & Cryptocurrency Scam in Houston! I want to report a group of unscrupulous local scammers that convince people to "invest" in cryptocurrency. These individuals have dubious pasts, some of them have already been sued for running pyramid scams, etc. The name of the fake bitcoin trading company is called Global Trading Club (www.gtcexchange.com). This is a fake multi-level marketing organization that actively holds seminars at local hotels, etc. The scam works by enticing unsuspected victims to opening accounts on their platform and promising exorbitant returns on investment, upwards of 300% a year. Form of payment to the organization is cash only, which is collected by the so-called leaders or council masters as they refer to the heads of the pyramid. As soon as you hand in the cash, they issue the phony bitcoin and you are then able to open an account. They have a binary incentive system which hands out bonuses for new recruits. They also have a daily bonus, supposedly as a result of their daily trading of bitcoin. The only way to recuperate the investment is to bring in new members. There is a payout system that is supposed to allow members to transfer their gains to a legitimate crypto wallet such as Coinbase. The payout systems NEVER works and is always under maintenance or offline. Members never recuperate their investment by that method, only new member recruitment. This facade does not have any working capital. The funds from the sale of the phony bitcoin goes to the founding members and other accomplices, they have no way to generate any trades, etc. Some of the leaders held a teleconference to provide status of the company last week, and they were extremely evasive, never answering questions about the payouts and continuing to encourage members to grow the pyramid. Upon questioning them to show members how they invest the money and to show actual trades, they simply used diversion tactics…very frustrating. I have invested about $15,000 on this scam on a friend’s recommendation, about 3 months ago. Unfortunately, I did not perform my due diligence at the time and simply trusted my friend, who is also a victim of this scam. I have names of the leaders and have done some research that you might be interested in reviewing. This thing has reached far and wide, with scammers in South Korea, Italy, Colombia, Mexico and many other countries. I can provide more information upon request if you are interested.

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Why not expose the names publicly, so that others don't fall victim

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