Prestige Capital

Prestige Capital Australia , prescap.com.au , PCA Trader

Update 02/11/16: Two men have been arrested and charged with fraud and money laundering. It is alleged that they were two of the principals behind Prestige Capital.

http://mypolice.qld.gov.au/blog/2016/10/25/taskforce-maxima-telemarketing-investment-fraud-arrests-gold-coast/

Police are still wishing to speak to any victims. If you’ve been affected by Prestige Capital, Prescap or PCA TRader, please get in contact with the police taskforce, Operation North Guitar at: OP.NorthGuitar@queensland.police.qld.gov.au

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A reader has alerted me to this relatively new business. ( website only set up in August )

Packages start at $9,900 and go up to $39,000. This provides you with trading signals by the sounds of it. They talk about Forex, Indices, Stocks and Commodities, but by the sounds of the brokers they use and the ‘95%¬†profit on successful trades’, I would say it is quite likely they are trading Binary Options and possibly doubling up after losing trades.

This method has come unstuck with CM Traders, TPZ International and other similar companies.

If the selection process can not make positive returns flat betting, doubling up bets will only make your losses larger.

They are offering a free trial. If it’s not for at least a month and about 200 trades, I would say that it won’t give you a decent idea of what to expect.

 

 

32 thoughts on “Prestige Capital

  1. Kate

    Hi,
    Keen to hear of any more news. I’ve just realised that I’ve been scammed. I invested money nearly a year ago with Prestige Capital & am scared I’ve lost it all.
    What is the process to follow from here?
    Thanks

    Reply
    1. admin Post author

      Report to the ACCC, ASIC and Fair Trading Qld first. They will not do anything but it will help your case if you show you have taken all the actions.
      Report on the ACORN website.
      Report to the Fraud and Cyber Crime Group (Fraud Squad) Qld.
      Start a QCAT claim, or similar in your State. This last one is the most likely to get any result as far as getting money back in concerned. Again, it will probably help yur case if you can show you have done everything else.

      Reply
      1. Chris

        ASIC will do diddly squat as they regard Prescap as a “gambling platform” because they deal in binary trading, so not under their terms of jurisdiction. As I said, they have given me 2 false addresses on documents and their website, as the regulator, surely this falls under your jurisdiction, false or misleading company information? Still heard nothing. ASIC = Toothless tiger

        Reply
        1. admin Post author

          Gotta agree with that. So much deceptive conduct is surely a matter for the regulator, no matter what kind of business they are in.

          Reply
    2. Chris

      Kate, contact through the ACORN website, fill out your details and complaint, the Fraud and Cyber Crime Group, part of the fraud squad. Their workload is huge, as you can imagine, but make a follow up call, sorry , I can’t make public the direct dial numbers, but call Roma St headquarters and go through the system. Also do a QCAT complaint etc. If you are not in Qld, report to the AFP as well. If you are not in Qld, it becomes a Federal matter as the crime has crossed state borders, a technicality, but that’s a good thing.
      I know it’s a shattering blow to you, been there, done that, but it only strengthened my resolve to ensure these a*&^%$#es lose EVERYTHING they have accumulated through their gutless fraud

      Reply
    3. Chris

      Got ’em!! The treasurer of Finks MC was arrested and charged today on the Gold Coast (Scum Central) for fraud, among other things relating to Keystone and Prestige capital.
      Well done task force Maxima.

      Reply
  2. Mervyn

    Hi All,

    Please be Aware of so called prestige/keystone finance , just received a call from a
    jarred and kate today (11/2/16) from this mobile no 0422 627 235 ?

    They were not aware that i had dealings with in2markets and its scamming crew.
    Jarred went on to say that they were away on holiday and the people left to look after the business were doing the wrong thing by their clients but its all sorted out !

    Still waiting for him to ring back , which i know for sure is not going to happen , i have since tried ringing that mobile and yes its not in service anymore !

    Stay away

    Merv

    Reply
  3. lee

    I have invested money and got fantastic returns. Just asking for a small withdrawal today and will keep you informed on the progress.

    Reply
    1. Chris

      Good luck with that, especially if it’s in an in2markets account. I’ve tried many times, zero results and all Prestige tell me is they can’t help me withdraw funds, even though they set up the in2markets account.

      Reply
    2. Chris

      Good news folks, Selena Huf and her colleaugues have contacted me after my ACORN report, I am having a face to face sit down with one of them this weekend re my dealings with Prestige Capital and the whole in2markets thing. I have ALL the emails, paperwork and a couple of pages of phone records already submitted in my ACORN report, just to make sure they have everything. Selena did say Prestige Capital is one of the “companies” currently under investigation. Thank God for bank transaction records and the associated legislation. These scumbags are traceable!

      Reply
      1. Cam

        Hi Chris,

        How did you go? I’m in the same predicament at present. I had a call from a Greg as it has been 12 months since I stupidly joined them and now I cant call them back.
        I cant get any of my money out of in2markets which now the bells ring because he wanted me to upgrade on a deal with my own money and not using the money from my in2markets account. I’m glad i decided i wanted to withdraw from in2markets.

        Would like to know how you went with ACORN as I’m going to lodge with them as well.

        feel free to contact me on kamo123.cg@gmail.com with any help you might be able to provide or if I could help you or anyone build a case

        Reply
  4. E

    HI,

    Just wanted to clarify a few things. I sent the original scam alert to James (aussiescamalert) after being contacted by prestige capital last year.

    Did not do much research, was not really interested, and later discovered that they were a gambling organization as James posted in the original scamalert post. They also never mentioned this in the sales pitch. Was not familiar with in2markets that they were promoting, but did see IG Markets somewhere on the website.

    When asked to see their paperwork, i just referred to this paperwork as a PDS to the salesperson who just went along with the term, both not knowing that they were a gambling signal provider, and also just trying to have some fun with the scammer.

    So it is also incorrect information stating about the AFSL, which is also not required.

    My main motivation in providing info on prescap was to expose a new scam to the internet, and it appears to have scammed some people, according to some forum posts on the internet a few months after this time. aussiescamalert was the first place on the internet to post about prestige capital scam.

    Sorry about the incorrect info and for not correcting this sooner.

    Reply
    1. E

      also it was the sales rep who was promoting the bronze package and stated that it returns 30% per month, it may vert well state a 5% return on the website. At the time of the phone call, I should have asked the sales rep what the other packages returned.

      Reply
  5. jthompson

    Hi Admin,

    Even though you removed the majority of the previous posts (including mine); the information left up is still mostly incorrect. Why was mine deleted too? I thought this was a forum for free discussion.

    1. The company does not claim to [and I quote directly off the very first section on the site] have an

    Average of 90%-95% profit on all successful trades.

    Which is technically correct. That line cannot be read in any way to mean a ‘95% strike rate’.

    2. As previously mentioned in my deleted post; an FSL is NOT required as the company is clearly operating in the gambling sector. A PDS is not required and is not required to be provided. This would have most likely been a misunderstanding on the consultants part; he may not know what a PDS is.

    3. The ABN is on the website, and as far as I can tell by using internet archives, has always been there.

    4. The Bronze package doesn’t return 30% per month; it clearly says on the website it returns up to 5%.

    However, they are simply providing an alerts service. But so is mostly everyone else when it comes to market research.

    FYI, I am researching other companies which have had misinformation posted about them here and will report shortly with my findings. This culture of labelling everyone and everything a scam by people who clearly do not know what they are talking about has to be stopped.

    Reply
    1. jthompson

      Turns out no posts were deleted.

      There must have been a glitch with the internet (or more likely me) and the old posts showed up after I sent off my reply.

      The information must always be correct, and I don’t want anyone to think there were posts missing that weren’t.

      Reply
    2. admin Post author

      thanks for your input.

      regarding your last comment, we don’t label ‘everyone and everything’ a scam. Usually there is very good reason to be cautious and suspicious of many companies listed here ( but not all….you need to read each article carefully ).
      If you believe there to be misinformation, please contact us directly at admin@aussiescamalert.com

      Reply
    3. Chris

      So how come my in2markets account is dissipating faster than a glass of water in the Sahara?? And you are NOT located at any of the addresses on your website or service agreement?? 30 Clifford Ave, is NOT on paradise Island, it’s the back of Q1. So how do I get to your “offices” and meet with someone and get my money returned from the in2markets account that is controlled in Costa Rica???
      Scam, oh hell no, just a fraudulent setup

      Reply
  6. James Thompson

    Reposted as it was posted as a reply to another post.

    The majority of the information on this page is just plain wrong.

    The ABN is clearly displayed on the website.
    A registered address can be any address, and is often just an accountants address. It really means nothing. Their office address is clearly available on their site.

    They do not claim to have a 95% strike rate, they claim up to a 95% RETURN on winning trades. Which is exactly what is returned by the majority of binary trades.

    Binary Trades (or really betting) does NOT fall under Financial Services; it is considered to be gambling which is exempt. Why would you over regulate yourself with an AFSL needlessly.
    Verified trading results… Verified by who, and who verifies them?

    Basically, there is much misinformation and uneducated assumptions being passed around here.

    Reply
    1. admin Post author

      thanks for your input.
      An ABN is neither here nor there. Good companies have them displayed, scam companies have them displayed.
      I believe that it was ‘inferred’ that the strike rate was 95%. Maybe they should be more clear on that. Yes, binary trades usually do return around 95%, more or less.
      So, you’re saying it is essentially gambling. I’m glad we got that straight!
      Good to know they are unregulated too.

      Reply
    2. Chris

      I have physically BEEN to 46 Cavill Ave, to find your registered offices. As stated on your abn details, 43, level 5, 46 Cavill ave, surfers Paradise. Only 2 tenants on the 5th floor, one is a culinary & hospitality school, the other never heard of you, neither has anyone else in the building, yes I DID ask at every office. Next excuse.

      Reply
  7. Ken

    I have had numerous phone calls from PCA ‘traders’ over the past 2 mths (Dec + Jan) trying to persuade me to open an account and deposit $5,000. They promise they can use their trading skills to play the forex/commodity markets to make me up to $1,000/wk. They even set up a dummy account which was to illustrate how it could work for me if I gave them the money. Not one of the 5 people I spoke to could answer all my questions about their systems and procedures. They left me with a very strong belief they are scammers. So I urge anyone approached by PCA Traders to exercise utmost caution. I will not talk to them again.

    Reply
  8. Mick

    I received a phone call from a fella named Jacob from a company called PCA Trader – http://pcatrader.com
    They set me up with a virtual account that contained AUD10,000 and asked me to monitor how their system of getting sometimes up to 30% returns on my money. The website they sent me to monitor from was In2Markets.com. It smelt bad hence I didn’t invest, believe you sign up to a particular package then give them money to invest for you. Lots of transactions when I was monitoring that seemed to be gambling on the AUD being higher than the Yen. Interested in anyone elses experiences.

    Reply
    1. James Thompson

      The majority of the information on this page is just plain wrong.

      The ABN is clearly displayed on the website.
      A registered address can be any address, and is often just an accountants address. It really means nothing. Their office address is clearly available on their site.

      They do not claim to have a 95% strike rate, they claim up to a 95% RETURN on winning trades. Which is exactly what is returned by the majority of binary trades.

      Binary Trades (or really betting) does NOT fall under Financial Services; it is considered to be gambling which is exempt. Why would you over regulate yourself with an AFSL needlessly.
      Verified trading results… Verified by who, and who verifies them?

      Basically, there is much misinformation and uneducated assumptions being passed around here.

      Reply
      1. Chris

        James, you are CLEARLY working for PCA or Prescap or whatever incarnation they use this week, shutup and don’t try to insult our intelligence any further. That strange poking feeling in your bottom is Task Force Lima, enjoy.

        Reply
  9. E Post author

    I was cold called in August and again today the 9th October 2014 from someone selling Prestige Capital Australia membership packages forex, commodities
    and index trading, over the phone the salesman said
    the basic bronze package was returning around 30%
    per month, and this membership is around $10,000. Company claims to have 14 years of history, but ACN 601 129 015 was only recently registered in August
    2014. The results are also claimed to have 90-95%
    sucess rate, although it did not look like this from the sales pitch. The company is involved in selling financial signal/trading packages, but they do not have an AFSL. When i asked about their Product Disclosure Statement (PDS), they advised that they required payment upfront before they were able to send a PDS, but according to PDS requirements the PDS is supposed to be supplied prior to an investment. Salesman was a little pushy. I have not made any payment to this company, and find it highly suspicious. Looks like a scam, that is operating illegally without verified trading results, and without a AFSL.

    Reply

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