I have got into a contract which I believe is a scam contract.
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I have got into a contract which I believe is a scam contract.
I paid initial capital but they are asking for more.
I believe I am subjected to a huge fraud. Unfortunately I gave them initial capital and now they asking for more money. Need to close this contract.
The *** ****** *** One-to-One Trading Partner Agreement is a cooperation agreement between **** ****** ********** **** (Party A) and an investor (Party B). Party B is required to invest an initial amount of 200,000 USDT and follow trading strategies provided by Party A’s analysts to achieve targeted profits across three trading phases. Party A guarantees full compensation for losses caused by analyst errors but excludes compensation for losses arising from Party B’s non-compliance or operational mistakes. Party B is restricted from personal or group trading and early withdrawal of funds, with breaches subject to significant penalties, including liquidated damages of 50% of the total profit. The contract is legally binding, monitored by third parties, and subject to extensions due to financial or market fluctuations.
Its a scam but how can I safegaurd myself from these criminals as i signed a contract
Hello! My name is Dolan and thank you so much for contacting me! I just had a few quick questions for you:
1. Can you provide me with a copy of the agreement ? It will help me analyze the specific terms, penalties, and any provisions that might be exploited in this situation. 2. Do you have any documentation or communication (emails, messages, receipts) with *** that can verify their claims, requests for additional funds, or the promises they made about profits or guarantees?
[FILE UPLOAD]
regarding point 2...my communication is via Telegram app ...here is the last chat details
*** ****, [12/6/2024 8:44 AM] Good morning ***** *** ****, [12/6/2024 9:09 AM] Let’s trade today **** ************* ****, [12/6/2024 9:18 AM] Good morning *** **** ************* ****, [12/6/2024 9:19 AM] Yes, I'm planning on it **** ************* ****, [12/6/2024 10:28 AM] I've arranged it, and the other investors are ready **** ************* ****, [12/6/2024 10:29 AM] Trading is expected to start around 12:00 ~ 1:00 Eastern Time today, please arrange the time in advance **** ************* ****, [12/6/2024 10:29 AM] I'll send you a link to the one-to-one trading group *** ****, [12/6/2024 10:41 AM] Ok sounds good 👍 Will be ready by 12 **** ************* ****, [12/6/2024 10:41 AM] Ok **** ************* ****, [12/6/2024 11:27 AM] [REDACTED] **** ************* ****, [12/6/2024 11:27 AM] Please click the link to join the One to One Group *** ****, [12/8/2024 12:50 PM] ***** - I somehow added $200k *** ****, [12/8/2024 12:50 PM] I can’t add another 200k *** ****, [12/8/2024 12:51 PM] How long round 3 will be ? *** ****, [12/8/2024 12:52 PM] How many days **** ************* ****, [12/8/2024 12:55 PM] Hi *** **** ************* ****, [12/8/2024 12:55 PM] I'm sorry to see the damage you've done through personal error **** ************* ****, [12/8/2024 12:56 PM] There is no way, you can only make up for your mistakes, which you need to supplement **** ************* ****, [12/8/2024 12:56 PM] We could have completed the second phase today, and the third phase is expected to be completed in three days *** ****, [12/8/2024 12:57 PM] What if I made mistake on 2-3 trades? I would compensate for may be $500k? **** ************* ****, [12/8/2024 12:57 PM] Due to the error situation, we had to delay one day, that is, we needed one more day to complete the second stage, and then used another three days to complete the third stage, and then our entire cooperation was successfully concluded💯 **** ************* ****, [12/8/2024 12:57 PM] Maybe you misunderstood, the 200k is the startup capital, the threshold for cooperation *** ****, [12/8/2024 12:58 PM] I understood that’s the full capital *** ****, [12/8/2024 12:59 PM] Did not know about the incremental capital requirements **** ************* ****, [12/8/2024 12:59 PM] No one wants that **** ************* ****, [12/8/2024 12:59 PM] I made a mistake once, and it was so bad that I've been very disciplined in my follow-ups *** ****, [12/8/2024 1:00 PM] How big are going to be trades for round 3? Like each one *** ****, [12/8/2024 1:01 PM] Like if it’s going to be 400-500k then it’s not even possible **** ************* ****, [12/8/2024 1:04 PM] I'll keep a tight control on the orders and the number of trades, as long as everyone executes correctly there won't be a problem, expect the same to be around 100~300k *** ****, [12/8/2024 1:07 PM] Ok *** ****, [12/8/2024 1:17 PM] I need time to arrange funds As you know I had to fund for medical situation **** ************* ****, [12/8/2024 1:18 PM] Don't worry, my team will always do their best to help you with delays, how long do you expect it to take? *** ****, [12/8/2024 1:28 PM] No idea at this time **** ************* ****, [12/8/2024 1:34 PM] Ok, I'll wait for your confirmation notice **** ************* ****, [12/13/2024 9:31 AM] Good morning, ***. I send concerned greetings to you and your mother🤝 **** ************* ****, [12/13/2024 9:31 AM] Wanted to ask how you're doing? The rest of the team can't wait to start executing the remaining trades. In order to be able to accommodate all investors, I need to adjust to your situation to ensure the best arrangement for you **** ************* ****, [12/13/2024 10:39 AM] I look forward to hearing from you **** ************* ****, [12/15/2024 11:12 AM] Hi *** **** ************* ****, [12/15/2024 11:14 AM] **** ************* ****, [12/15/2024 11:14 AM] 📣Hello everyone, I apologize for the delay. I understand the eagerness of all investors to com
Understood. What is your ideal outcome with this? By that I mean what is it that would make you feel whole here?
below chat is from the so called analyst who drives trading
Ok perfect. Do you know where **** is located at all/ I'm wondering if the international police need to get involved.
Unfortunately I funded $200k and then they asked me to trade on one of the platforms that I did not know .....my money in that account grew every day of trading.....then suddenly I day he told to trade a different crypto where I made mistake ...trading amount was $200k ...since I made mistake because of sudden change,...they are saying that I need to add more $200k ...I said you deduct from my so called profit but they insist I need to add another $200k ....and that is where I got suspicious that i am scammed
**** is supposed to be based in Singapore but I doubt if its a legit company...its website has not names of the management people
Got it! Was there anything else you wanted to add? If not, I can begin working on your answer. I may need only about 90 minutes or so to review your documentation and respond.
Ideal outcome will be receive back my $200k ....as its my hard earned money
next ideal will be to safeguard myself from this scam...he keeps saying I signed the contract and legal bound to it....I want to know if there is any situation like that
I am good for now...pl. review and provide recommendation thanks
Ok! I just need a little time to draft up a high-quality answer. I'll be with you as soon as possible. It won't be terribly long,
I'm so sorry that this is happening *********. So I reviewed everything and I came up with a few reasons why this appears to be a scam to me. 1. Right away, what I see is the agreement guarantees unreasonably high returns (e.g., 600% profit in the first phase and over $1.2 million in total). Legitimate investment agreements do not guarantee such returns, especially in high-risk markets like cryptocurrency. 2. Second, the contract prohibits withdrawal during the cooperation period and imposes severe penalties (50% of total profits) for attempting to do so. This restriction is designed to trap investors and make it difficult to recover their funds. This is typical! 3. This is also super ambiguous. The company claims supervision by "Singapore jury" and "USA, Macau jury," which is vague and unsubstantiated. Additionally, the absence of verifiable details about ****'s management or operations raises red flags. The reason that they make it this way is so they can avoid accountability and be hard to trace. 4. Finally, the demand to replenish funds after supposed "errors" in trading shifts all financial liability onto the investor. Legitimate investment firms do NOT require clients to continuously fund losses beyond the initial investment, especially when errors arise from analysts' advice. I am afraid this is a very big scam.
So here is what you need to do: 1. Avoid sending any additional funds or engaging with the scammers. Continuing communication might lead to further manipulation. 2. I recommend reporting this to INTERPOL. You can contact the International Police (INTERPOL) using this link - https://www.interpol.int/en/Contacts/Contact-INTERPOL. They are an aggressive, well-funded police force; 3. They said they do business in the USA, so you can even contact agencies in the USA. A complaint with the FTC can be filed starting here - https://consumer.ftc.gov/media/video-0054-how-file-complaint-federal-trade-commission. A complaint with the FBI can be filed starting here - https://www.ic3.gov/Home/ComplaintChoice 4 . Please consider blowing them up online. Wha tI mean is consider warning others by sharing your experience on scam-reporting websites (e.g., Scamwatch, Reddit's r/scams, or Trustpilot). This prevents others from falling victim to the same scheme. Does that help clarify things? I want to make sure I didn’t leave anything out.
Thanks Dolan for your assessment. I fully agree on your points below which confirms this is a big scam I got trapped into. He is continuously following up and asking to trust. I told him if I have to trust him, he needs to provide names, contacts of the management team of ****, which he avoided answering and kept on saying we are a reputable firm.
so, should I just ignore his reach outs? Do I need to send any legal notice for contract termination though its a scam?
I have been away for a doctor appointment and office meetings so could not reply to your messages earlier.
Yes, ignore his reach outs right now, but only reach out to him to tell him that you intend no longer to adhere to his specific requests. You do not need a specific legal notice; however, what I do recommend is advising him that: 1. You believe this is a scam; 2. That the continued harassment will lead you to contact INTERPOL, The FTC, and the FBI.
got it Dolan thx
How can I ask him to return my principal? He is refusing to saying we are in a contract.
Sure thing! You may want to consider writing a formal demand letter.
So what you could say is: "I am writing this letter in connection with the fraudulent investment scheme orchestrated by **** ****** ********** ****, which has caused me significant financial loss and emotional distress. I demand the immediate return of my principal investment of $200,000 (USD) and the cessation of any further communication or demands for additional funds. On (whatever date it was), I entered into an investment agreement with **** Wealth Management, providing $200,000 based on their guarantees of compensation for losses caused by analyst errors and promises of significant profits. However, the agreement’s terms and subsequent actions by **** representatives (including unreasonable penalties, refusal to provide verifiable company details, and demands for additional funds) demonstrate clear fraudulent intent. In every country, it is against the law when a person uses fraud or deceit (intentional omissions or lies) to obtain any money, labor, real or personal property. This means that a person just needs to prove that they were either told lies or relevant information was withheld from them by the other party to get theiir money, labor, real, or personal property. This can be both a civil and criminal act. https://www.law.cornell.edu/wex/fraud. As such, these actions constitute fraudulent misrepresentation and likely violate both U.S. and international anti-fraud laws, giving me grounds for legal action. I demand the immediate return of my $200,000 within 10 days, failing which I will report this matter to authorities, pursue legal remedies, and publicly disclose this fraudulent scheme."
Thanks for all your help with this!
we sent that demand letter on the telegram and here is the response
We at **** as a local investment company in Singapore, we have always abided by the law, we are outraged by your malicious slander, and if you persist in doing so, we will immediately contact the SPF to intervene, due to the existence of this tripartite agreement, our company paid a huge deposit to **** when you signed the partnership agreement, which is fair to every investment partner, and we abided by the law. Whether it is SPF or FBI, we are right, my words represent the position of our company, need to bear the legal responsibility, our company is not big, but we have been complying with the laws and regulations for many years, and never do anything to harm the interests of investment partners
Hello! A few things to consider in responding to them: What I recommend is responding saying these three things: "If **** is truly compliant with all relevant laws and regulations, then please provide the following information to substantiate your claim: (1) the names and verifiable identities of your management team; (2) proof of the deposit paid to **** under the tripartite agreement; and (3) documentation of ****’s registration and operational compliance with regulatory authorities in Singapore. Without such transparency, your claims of compliance remain baseless." You can then say: "My concerns and allegations are based on the terms of the agreement, the unreasonable penalties, and your repeated demands for additional funds under questionable circumstances. This is not slander but a legitimate concern as an investor seeking the return of my principal. If you believe this is slander, I encourage you to pursue legal action, as discovery will require you to disclose full details of ****’s operations and compliance history." You can then say: "Despite your claims, my $200,000 investment has been managed in a manner inconsistent with ethical investment practices. I reiterate my demand for the immediate refund of my principal investment. Failure to do so will leave me no choice but to escalate this matter with international authorities, including the SPF, INTERPOL, and the FBI, to investigate your company’s practices and ensure accountability." Don't let them off the hook *********!
Thanks Mr Dolan
Mr Dolan, here is the latest reply from ***** ----**** ************* ****, [12/20/2024 9:39 AM] You're incorrigible, there's been no request from anyone for additional funds, I've explained a million times that you can just opt out, that's it, I'll file a petition for your breach of contract, and that's the end of our partnership **** ************* ****, [12/20/2024 9:40 AM] You can do whatever you want or investigate whatever you want, please don't bother me, I have other partners to deal with one on one and I don't have that kind of time to spend with you
Ok got it. This kind of behavior is not uncommon. It suggests to me that you have them on the ropes! So here is what I recommend saying. This has happened so often that I've seen telling them the following works. Just keep it to three very basic, very simple points 1. You should say "*****, your claim that there has been no request for additional funds is entirely false. Your previous communications explicitly demanded an additional $200,000 following an alleged trading error, despite my refusal and insistence that such a demand was unreasonable. This demand directly contradicts your current statement and further highlights the inconsistencies in your conduct." 2. In the second paragraph say: "If you believe I have breached the contract, I invite you to file your petition. Any legal proceedings will require full transparency of ****’s operations, financial records, and communications, which will further substantiate my position that this agreement is part of a fraudulent scheme. I will also be submitting my evidence to the appropriate authorities to ensure a thorough investigation into your practices." 3. Then, do not le them out of it and reiterate that you WANT YOUR MONEY BACK. You can say: "I remain firm in my demand for the immediate refund of my $200,000. I have every right to pursue this matter through legal and regulatory channels, including reporting your conduct to the relevant authorities. Your refusal to cooperate and your dismissive tone only strengthen my resolve to ensure accountability." This response shows that you are not intimidated, remain focused on your goal, and are prepared to take legal and regulatory action.
Earlier he used to be very polite and after I refused to send more money, he is showing his true colors
thanks will send exactly as you wrote
he has replied back
**** ************* ****, [12/20/2024 12:12 PM] It was before, it's in the past, why are you dwelling on it? Here's our signup funding threshold, it requires 200k and you've confirmed it's done at the back, to here, there's no problem here **** ************* ****, [12/20/2024 12:13 PM] Now at this stage it's because you made a mistake and lost 200k and need to replenish it, that's all, you can do whatever you like, I've explained enough and you never want to cooperate **** ************* ****, [12/20/2024 12:14 PM] I have told you from here that when I make a mistake, I have no complaints about compensating you for the funds, I know you remember that
Our cooperation did not end smoothly, and no one can take your funds
he keeps claiming that my funds are in **** platform and he does not have it....once I contacted **** platform to return my money, they said you have contract with **** and only they can release the funds ...so in essence he has the funds
This definitely sounds like a scam Here is what I think you should say: "*****, your statements are contradictory. On one hand, you claim the funds are with **** and not under your control, yet **** has explicitly stated that only **** can release the funds. This clearly indicates that **** has control over the funds, and your repeated misdirection is an attempt to avoid accountability. You have stated that I made a mistake, but the so-called ‘mistake’ occurred under your direction and trading platform. As per the contract, **** guaranteed compensation for losses caused by analyst errors. Therefore, even by your own admission, **** bears responsibility for the loss and should act accordingly to return my funds. I am not dwelling on the past; I am pursuing what is rightfully mine. The $200,000 I invested is my hard-earned money, and I demand its immediate return. Your refusal to cooperate and shifting of blame will only lead me to escalate this matter with legal authorities, regulatory bodies, and online platforms to ensure accountability." By doing this, you're not letting them off the hook and staying firm with your demand.
sent ..thanks
he is not giving up
**** ************* ****, [12/20/2024 1:34 PM] It's your understanding that is wrong, your money is in ****, when we signed in case either party defaults, our company paid the margin in advance, the purpose is to prevent the occurrence of your kind of non-recognition, not responsible for the things that happen **** ************* ****, [12/20/2024 1:34 PM] In the past, some investors refused to pay the technology fee after the cooperation ended, resulting in huge losses, so we had no choice but to sign the cooperation and confirm the payment of the deposit with the third party of **** **** ************* **** [12/20/2024 1:35 PM] My order was for ETH and you made it for BTC, that's your mistake, not mine **** ************* ****, [12/20/2024 1:35 PM] If it's my mistake, like before, I will compensate you 200k directly **** ************* ****, [12/20/2024 1:36 PM] The 200k you invested is not only your hard-earned money, but now the money in your account is also the hard-earned money of our team of analysts, due to your non-performance, you can't successfully end the cooperation, the efforts of our entire analyst team will be in vain, we don't get a single penny of the technical fee **** ************* ****, [12/20/2024 1:38 PM] Now refused to cooperate is you not me, since you intend to give up, then long let it go, we so the company's many years of operation and good reputation, will not be afraid of any slander **** ************* ****, [12/20/2024 1:38 PM] I'll say it one last time, as long as you complete the replenishment of 200k, then I can help you in 4 days to complete the full stage, and then smoothly end, you can withdraw all the funds directly, this is the last thing I can help you, we can complete it through accurate private one-on-one transactions, so that it can be more accurate, 100% will not recur to this kind of misbehavior
he keeps avoiding giving names / details of the company and manipulates that I add another $200k so we can finish the contract. Looks like he is trained manipulator
I'm so sorry about that! So there are a few things to consider: 1. Under no circumstances should you pay the additional $200k they are requesting. Their narrative is designed to pressure you into sending more money without any guarantee of return. 2. I think you should just respond firmly, reiterating that their insistence on additional funds and refusal to release your investment violates your rights. Here's an example of what you can say: "*****, your response is contradictory and misleading. **** has explicitly stated that only **** can release the funds, which demonstrates that the control lies entirely with ****. The claimed 'mistake' was under your direction, and your refusal to acknowledge ****'s contractual guarantee to compensate for losses caused by analysts is unacceptable. I will not send additional funds under any circumstances, and I am escalating this matter to legal authorities and regulators to recover my investment and ensure accountability." I found this online - Since **** claims to be based in Singapore, submit a report to the Commercial Affairs Department. This is in addition to the FBI, FTC, and INTERPOL (the international police) Save all communications with ***** **** and ****, including emails, Telegram messages, etc. Also, if you can, share your experience on scam-reporting platforms (e.g., Reddit's r/scams, Trustpilot, or Scamwatch, etc.). This can help prevent others from falling victim to the same scheme. Sometimes that public shaming gets them to behave.
Should I file reports to FBI others now or wait for 10 days ?
In my experience and opinion, DO IT NOW!
Ok Mr Dolan
latest
*** ****, [12/20/2024 4:20 PM] *****, your response is contradictory and misleading. **** has explicitly stated that only **** can release the funds, which demonstrates that the control lies entirely with ****. The claimed 'mistake' was under your direction, and your refusal to acknowledge ****'s contractual guarantee to compensate for losses caused by analysts is unacceptable. I will not send additional funds under any circumstances, and I am escalating this matter to legal authorities and regulators to recover my investment and ensure accountability. **** ************* ****, [12/20/2024 4:23 PM] ***, since we paid the deposit, as I have already explained, our company will confirm with **** only when we have completed the cooperation, then your account will be able to resume withdrawals **** ************* ****, [12/20/2024 4:24 PM] There is nothing wrong with my instruction, my instruction is ETH, it is your own mistake to make it into BTC, please don't slander others freely *** ****, [12/20/2024 5:17 PM] Your continuous denial and manipulations confirms unethical practices engaged by ****, I am saying it last time, return by principal before I engage legal authorities of SPF, FBI, Interpol to expose fraudulent scheme run by you. Time is running out for you. **** ************* ****, [12/20/2024 5:30 PM] 👆🏻 **** ************* ****, [12/20/2024 5:32 PM] No one is denying it, no one is manipulating it, the unethical behavior is yours, your own refusal to make up for losses due to your personal missteps **** ************* ****, [12/20/2024 5:58 PM] You personally made a mistake, and signed a cooperation agreement, do not comply with the agreement is you, and now constantly slander do not cooperate to solve the problem, my company can only sue you **** ************* ****, [12/20/2024 5:58 PM] In the cooperation agreement marked very clearly because the trader's personal mistakes to bear their own, you now belong to avoid responsibility and malicious breach of contract *** ****, [12/20/2024 6:20 PM] Contract was breached by you on day1. It was supposed to be 1:1 but trading happened with few other investors. *** ****, [12/20/2024 6:23 PM] I want your company to take legal action, this way your team and fraudulent activities will be exposed to the authorities easily and authorities will help get my principal from you. Go ahead.
Ok got it. I'm sorry this is happening, *** So at this stage, just do not send them any further funds or engage in unnecessary arguments. Their responses are clearly designed to manipulate you into sending more money and admitting fault for their alleged breaches. I recommend getting those complaints with those agencies I recommended. You also really have to explore filing a lawsuit against **** and **** for breach of contract, fraud, and unjust enrichment. Although **** may not have a visible presence in the U.S., filing in a U.S. court or collaborating with Singaporean lawyers may uncover assets or additional parties involved in the scheme. Stay firm in your position. If **** continues threatening you with lawsuits, call their bluff. \
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