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This complaint is about Carlos Vargas, Head trader at Global Maxfin.
My name is Max I'm a 65-year-old who lives alone in retirement.
Not long after my wife's death in 2016, I met Mr. Vargas on Bay St and he pitched an investment opportunity. He sounded very professional and seemed to have excellent knowledge of investment matters. He answered all of my questions and guaranteed me profits.
As my superannuation funds weren't doing so well, I decided to explore this new investment opportunity.
Over the next 12 months, I made a number of transfers to Mr. Vargas, initially starting with $10 000. I was referred to a very professional looking website and set up a login account, which showed my money increasing in value as the market ‘went up'. Confident the system was working, I invested more money, to a total of $500, 000.
I only realised that the investment scheme was a scam when the website went down and Mr. Vargas changed his phone number.
I did some research and found out Carlos Manuel Vargas is a known fraudster: https://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=4F00194F0BD54144911B37B168D30B81&Language=en
I was again contacted by Carlos Vargas, with offers to help me get my money back from the original investment. This time I contacted police, who explained this was a ‘follow up scam' and warned me to expect more calls like this as my was most likely passed on to other criminals.
I was scammed by the same Carlos Vargas in May 2019, my principle loss was a total of £198, 000. I opened an account and my first deposit was £23, 300. The account grew and showed good returns. I was offered a higher ranking account with more benefits if I increased the amount to £63, 000. All the transactions were done by debit from two of my credit cards, then I got stuck with them - I had to keep putting more funds in, hoping to get my money out some day. After a while, I sent complaints to Financial Conduct Authority (FCA, UK); and Financial Services Commission (VFCS) in Vanuatu. But none of them took action, until I consulted Dr. Jeremy Wyatt via jeremywyatt(at)consultant com, he found out how they work and processed my payouts in a month...