Investment-SCAM Reports & Reviews (1)
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SCAMPULSE
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SCAMPULSE
If you know any contact information for Investment-SCAM, help other victims by adding it!
Country United States
Victim Location NC 28208, USA
Total money lost $543,831
Type of a scam Investment
Everything was set up to take advantage of their mid- to long-term investment named Explorer 6 to take place in late January with expected profits of 120%-300%. They also shared the success of Explorers 1-5. Everyone was encouraged to sell any stocks held and gather as much capital as possible in order to participate in Explorer 6. Several reassurances were made that the company would cover any losses of Explorer 6 and that they had a $500 million war chest available for reimbursement but did not expect to need to use it.
Based on the recommendation of Ellie I purchased 65400 shares of CLEU at $5.37 on January 22.
I followed her recommendation and sold it the following day at $6.40 for a profit of $67053 then repurchased later that day at $6.15. I then sold other stocks and purchased an additional 7250 shares at $6.89 on January 24.
I later added an additional $55000 from my savings and converted my grandchildren's college savings funds to purchase more shares. I ended up owning a total of 90847 shares. On January 28 the closing price of CLEU was $7.81. They expected to break through the $8 price on the 29th. The targeted price of $22-$28 should be reached the following week and we would sell on Feb 5 or 6. It was expected that there would be an announcement by Strider (LRN) on or about February 5 that they would be acquiring CLEU.
All the while investors were encouraged to liquidate stocks and invest as much as possible in CLEU.
On January 29 CLEU closed at $7.75. On January 30 investors woke up to an opening price of less than $1.
At 7:13 a.m. I received a message from Ellie stating "At present, because our medium and long-term investment is slandered by many peers and short sellers, investors cannot hold their chips stably, resulting in a large selling pressure, which leads to a panic decline! Therefore, our agency is counting the number of shares of all investors participating in the transaction and calculating the funds to increase the stock price. Therefore, you can first send me your total number of CLEU holdings to ensure that I record and complete the statistics as soon as possible. Our company will inject a large amount of funds to increase the stock price to ensure that everyone will not suffer losses in this transaction."
I sent her screenshots showing that I had a total of 90847 shares.
At 8:47 Ellie messaged me "If our organization is unable to raise the stock price, we will calculate your shareholding and losses according the the screenshot you sent me now, and ultimately compensate you at your cost price."
Trading was halted on CLEU shortly after opening. I sent Ellie a message questioning if they had enough capital to make all investors whole. Her reply was "We have prepared 500 million US dollars as funds to recover losses. If we fail, we will compensate everyone."
A message from Kevin was sent at 12:04 p.m. saying that "I regret to inform you that because CLEU was shorted by professional short-selling institutions, the stock price plummeted, and our original plan to increase the stock price was also forced to be cancelled. Because short sellers are still frantically selling their chips, even if we inject funds to increase the stock price, we will pay a heavy price, so you now need to sell all CLEU positions at the market price and send your losses to my assistant, and we will register them." This was the last message from Kevin as comments were turned off.
After sending Ellie the information she asked for confirming my losses and expressing my deep concern, she replied "I understand. I have just recorded it for you. I will send it to the finance department to calculate the loss for you and compensate you."
On Friday, January 31, I asked how reimbursement would be handled and my reluctance to provide bank information for a wire transfer.. Ellie's response: "At present, we are using cash compensation or bank transfer. I will ask the finance department if they can provide a check."
On Monday, Feb 3, upon my asking again about reimbursement, Ellie replied: "Good morning. I understand you. Because I also suffered a lot of losses in this investment. Please wait patiently for the compensation reimbursement."
Tuesday, Feb. 4: Ellie "Please be patient and I will help you to urge the finance."
I have seen through WhatsApp on Feb 5 and Feb 6 that Ellie has seen my messages but she has not replied to the messages or phone calls.
See above. The WhatsApp phone numbers associated with key individuals are as follows:
Ellie - 856-484-6636
Kevin - 504-358-1372
Group Admin - 202-754-7132
Group Admin - 504-325-1013
Group Admin - 808-781-3162