Edgar International

Beginner Questions
392

Hi everyone,

From what i have heard and gathered. Edgar is supposedly trying to clear all October payment withdrawal. Nov payments are screwed because alot of them were put back into the ledger.

Even if you submit manually all withdrawal will have to wait. My information tells me that this will not happen until Feb or even March. My guess is no more victims investing so everyone cannot get money.

Unless you are in Andy’s inner circle or priority people as mentioned in my previous post. I can only say hopefully you will have a happier Chinese New year

The problem is that its a vicious cycle, Agents cannot get clients because, of the current problem with Edgar and its no withdrawal policy. I dont know if anyone is “stupid” enough to put in money at this time. So, if agent cannot get people to invest, then people who are waiting will not get money.

My guess the only person making money is the trader Andy, cause win or loss he will always get money. So maybe everyone should just go to his church or office and look for him.

He drives a mercedes and lives in a nice place. I am sure he has money somewhere, he did told my friend he is a millionare. The truth is the group have spread to many countries using different website but same method. Maybe there is unsuspecting victims in other countries. Maybe they will fund Edgar. If not then its really Hallelujah… ( excuse my punt )

Good luck

393

Hope Edgar or Mr Andy, Jerry or Feng can prove MasterAsia wrong and let everyone has a nice NY OR CNY. :confused:

394

Dear friend you must have invested a lot. God Bless you. More trade done got use:confused: If withdrawal still a big problem from Edgar, Mr Trader done Thousands trade got use:confused:

Seriously, everyone here are hoping Mr Edgar or Mr Andy can prove MasterAsia Wrong:confused:

395

Hi everyone,

Lets hope those who invest can get back their capital. All i can tell you from sources is that unless you are closely related to the KK gang and Andy.
You will have to wait for your money. You will be low priority

If you are really desperate, then you can bypass Andy and go straight to the source, there is an email in Forex peace army that identify the “source”, but unless you really want to close your account. By going straight to the source, Andy will stop trading for you.

Previously someone complain on forum, the person got the money but also was blacklisted by Andy. Andy is not only the trader but i believe have a share in Edgar. I won’t say more about their operation which i found out as its too long. But Andy is responsible for the management of his client. And if his client complains to the source. Andy gets upset… ask his agents in KK… :eek:

Anyway, I am 99.9% sure they are getting checked in NZ by the NZ securities commission. If no one has notice, their funding accounts for most of their operations have shifted to overseas account especially the older website related to the group. Legion is only recently incorporated in June 2010, that is why its not put under the radar of the NZ securities commission, until someone mention to the securities commission. So if anyone still believing their initial “bull****” ( pardon me), about firstly Edgar uses different account because the initial account was closed due to Financial Audit / then because of some Anti Terrorism check / then money will be slow because of more Regulation by the bank ?

Have no one asked why they cannot use back Edgar account ? Seems like this switch will be permanent. Please note by putting more in another company account means that Edgar could deny responsibility for your money if they close, because you did not deposit into their account. ( Please go ask a lawyer friend in commercial to explain the legality of this type of transaction )

For future clients, better just keep your money, you would not know when they will be forced to close down.

Another clue, I will leave here is that if no has notice though the Server is mainly housed in Narita Japan, CS emails are mainly or always coming from Macau. I believe the group orginates from Macau / Hong Kong. Its run by asians.

397

the 3 month date already pass one month…

i still remember what i write…

well, anyone working in banking sector???
does u all know saving account and current account different???

why the money will go back to ledger??? if not go back to ledger, u wan the money overflow???

u try to go other country and telegraphic transfer the money back to your account… if yours is current account, u transfer that time, u put saving… do opposite things if yours is saving account

or… u try transfer to your account name with one wrong number of your account or one wrong alphabet on your name… those transaction will surely bounced back… u try this things before blaming other ppl,

many ppl do withdrawal themselves at the platform… so, guess wad happen???

those no problem also bounced back… why???
money inside bank not come in from other country few hundreds per transaction… its million or billion… when the money reach, only its split to the name and account. one account got problem, the bank might return all the money back to its owner country… why they need return all???

japan car got problem, will they recall all??? not all also… that batch only… but when recall all back to repair, does all also need repair??? nope… some of it also… maybe some ppl will understand and some ppl dont understand… if understand, then decide what u want… if dont understand, u go talk under the big tree… lolx

398

I’ve worked for a large Mutual Funds company and can safely tell you that you’re talking total nonsense. Money comes down from the Fund a/c into a DDA a/c and redemptions are made out individually to investors as wires from this DDA account. If the total amount of the money that comes down from the fund isn’t paid out due to some details being missing from a few investors or it gets returned due to incorrect details then it sits in the DDA a/c until the individual problems are fixed and is then paid out individually again. Other people don’t have to wait because some investors’ details are wrong. The money absolutely can’t go back up to the Fund a/c as the redemptions have been processed on the system and as a result the money is not available for investing. This is the way a normal company works. Edgar, as usual, seem to operate in some way that’s shrouded in mystery and bears no resemblance to the reality of how proper companies work.

399

Come on people, time to wake up!!!

All seem to agree that the money isnt traded now ( i doubt it was ever, but not the point right now), so,
What do you think, what would be the obstructle to simple withdraw it, even all, if there is the money as the balance show on the internet?

the simple and unconvinient answer: the problem that there is no money as the internet shows!!!
Every respectable broker would honor your withdrawal request within 1-5 biz day…as long as your balance covers the amount…and so should Edgar too.

Doesnt matter what the look of the situation, and how ppl who “invested” THIS IS A PONZI, AND THAT MONEY IS/HAS BEEN PROBABLY LONG GONE!!

the lesson: if next time such beautiful opportunity arise, be aware!
and lesson #2: prepare yourself now that you wont see any money back and move on. prove me wrong, and be happy if you see something, i would stop hoping, it is pathetic and trully useless!

400

I fully agree with Pipbandit. Mr Allenleow, to let you know I work in the Finance and Banking industry, I am also a fully qualified accountant . I deal with companies that have annual turnover of over 100 millions everyday and from you comment I can see you are not someone in the finance industry.

You are always using examples that have no bearing in the business world. Maybe your explanation can fool the simpletons but please don’t talk as though you know about finance and banking.

No1 . Companies generally don’t open saving accounts, that is for one simple Saving accounts are for saving. To operate a running business you need accounts that reduces banks FEEs NOT increase the running cost. Meaning you would open generally open a business BANKING account( eg Cheque acct), WHICH usually have no daily LIMIT as long as you have money in the bank, unless you have an overdraft facility. That is why I know Edgar is bull****ting when they say they have to increase daily limit, that applies only to personal account - not business account.

No2. Your comments on the money bouncing back was even more idiotic. In simple words, if i send 100 transactions for payment, only the ones with problems will bounce. NOT all 100 transaction LIKE YOU Mention ( I work in the banking and finance industry, I should know better) The money that bounce back into Edgar ledger, the accounts I believe were correct. One of my friends showed me their previous withdrawal statement. They were the same YET the older payments in June-July period came out BUT recent withdraws in Nov all went back into the ledger.

I have been doing alot of research on behalf of my friends who got scammed in this Edgar thing, and have provided the public with the analysis here so they can be more fully aware.

Edgar have been trying all sorts of explanation to hoodwinked unsuspecting people into their current issue. But all their explanation if one closer examination do not make sense at all, because in the business world this things do not happen. Here are few examples, i will give the explanation to some of their crazy reasoning

  1. When we do Audit for companies, WE don’t close their bank account to do audit.

  2. Companies that are supposedly open in NZ or the country of domicile usually have a BANK account in that country to facilitate operations. Eg, If you have bank issue, you are at least in the same time zone, and you can speak with a Banking relationship officer who usually takes care of company account.

  3. Companies DO NOT usually get other companies to accept funds for them because it creates a nightmare for Auditors - trying to reconcile the Assets and liabilities. eg. Transfer pricing nightmares, Interest liabilities are some of the issues to consider. If they cannot even afford to employ more staff to handle withdraw. HOW in the WORLD will they be able to resolve the year end Audit ? From their operations i already know this will be a nightmare.

  4. If no one realize this, THE REAL DIRECTOR of edgar and the sister companies have always been a mystery. Why ? Simple if something should happen no one can find them. I know the directors on NZ company search is NOT a real directors but are sleeping names only. Have no one noticed that edgar and the sister companies have been changing Directors every 4-6 months ? Edgar From CARREON, Franco Nero Arazao to Dino Carangian. This is true for all the companies like Cosca, Regal, UPL, etc. In fact you will find they have also changed Accounting company from Robert Wong CA to another person. If a company have no problem usually this will never happen.

** If i were doing an audit for the company and see all these tell-tale like changing directors, changing Accounting firm, changing bank accounts. I would definitely red flag the company.

So, hope this info will educate the people in the forum and help them to make better choices.

401

Come on AllenLeow, are you an agent? it is back to ledger because EDGAR can’t pay. and how come after 1 month then being back to ledger??? ok, I have done mistake too on withdrawing my money from FXCM. after 1 working days, I got and Email saying that I have made mistake on filling my withdrawal form. then after correcting it and re-submit, I got my money in 3 working days. can you see the huge different???

AllenLeow, I see you are trying harder to give the best explanation, but it just seems to be nonsense. it doesn’t link up.

what kind of lousy policy EDGAR up to. and those amount / digits on your EDGAR account, I am sure its not balance to the real money. its just a useless digits if it can’t turn into real money. remember, we only consider profit if our money is in our bank account. where we can withdraw the money and hold it. as long as your money still in EDGAR account, its really really really unsafe. whats the use of having 1000% profit if we can’t withdraw it??? no need to talk about re-deposit or taking a loan la…

AllenLeow, I have experiencing my journey with ponzi scheme before not to say I too have benefit from it. that time made a fast money with really small investment. and that time I am so so young in the world of investment even though I was working as an account executive back then. I am like you, many people try to warn me, but I defended the ponzi company at all cost. I know something big is not right with the company. but I ignored. being such a hard headed boy. not only once, but 3 times I got cheated. and they are none other then my own friends and relative. thats why earlier post I mention about CNY withdrawal would be hectic. because a ponzi scheme will find them self trouble during big seasons like year end and CNY. I mean ALWAYS. see why the withdrawal section is being closed? get the point?

So AllenLeow, I am here not to embarrass you, but I see the way you post comments seems similar to my experience before. I agree what tingtong have posted regarding the 2 lessons. #1. beautiful opportunity arise, be aware!. and #2. if already jump in, prepare yourself now that you wont see any money back and move on. if you get to see your hard earned money again from a ponzi scheme, consider your self lucky and the chosen one.

Happy New Year everyone.

402

Wow… MasterAsia… can I kiss you??? ahahahha… thanks for the strong point. fully agreed.

403

Agreed with Master Asia,

To AllenLeow… maybe your are an agent or close to an agent. All the points you have mentioned are also said to me, but problems like this will not happen if Edgar has a system. Withdrawals made now and before are the same, having errors, but it seems that its getting worse. Why mistake of one mistake of all? I was told that the one who is incharge of the withdrawals is just setting aside a bunch of withdrawals and proceeding to new ones, why? why no additional staff? they can bracket the clients per staff. CS is not answering anymore. Allen, please gather more valid reason for the benefit of this forum coz it seems to be that you are only on their side.

I think no need to argue if Edgar is a scam or ponzi or not, coz if its, investors are fallen already and no way out, edgar is smart enough that you can’t run after them, for those who are planning to invest, maybe you know what to do. Lots of ideas have been shared already. Let us just share updates about the problem and i think there’s nothing wrong if we still hope for the good. Withdrawals seems recovering here in my place. Except for 1 that is back to ledger, rest have arrived and got 4 trades this month

Thanks…

404

PipsConqueror, are you female?

405

Our singapore side also the investors (whoever i know, October Withdrawals) are already got it. Only one friend (November withdrawal) is back to ledger.

Mr. Allen , we all waiting ur 3 months. (now one month already).

Thanks

406

Hahaha… was only joking… am pure male… hahaha… btw, good luck with the 3 month. if get withdrawal good la…

407

well… if u all think that the bank no problem, then its my problem, ok???

money laundering is in the whole world… even the government of all country is aware of this… so, when a lump sum of money from other country to your country, the bank have the right to bounce it also… if the money really not clean, then the bank will have a lot of trouble for accept the money…

408

Hi,

I know many investors have already put in money and are all waiting for the money to come out. I got a number of friends who have invested in the Scheme and got caught out that is why they ask me to investigate.

Anyway, here is are some possible scenario to those who have invested the money. Here is some good and bad new, These people have been doing these scheme since 2002/03. So i dont believe they will just pack up run. But there are some scenario which you must take into account

  1. If Edgar is salvageable, they will keep Edgar name and try to stabilize the ship. The payments will eventually come out if Andy is still trading but you will prob have to wait until March. This was what i have heard Andy telling his agents, that is why the payment icon was taken out and is suppose to be reviewed around March. I think the dateline for manual withdrawal has passed. So no withdrawal until March.

  2. If Edgar is not salvageable, 2 things going to happen. One you will find your account going to loss positions, just like what they did with UPL accounts. I believe i read in a forum, there was over 200 accounts going into huge loss position. Well that would be a “legal” way to get out of the payment issue, but this would mean also people losing trust in Andy.

  3. I believe if Edgar is totally not salvageable, Andy might move people into a new company maybe who knows Legion Trade Limited. You could say start afresh. To move is very simple for them, account same just name different.
    This way the Edgar name will be no more.

Going by the other post on the forum, if Andy is indeed trading for another company as well as Edgar, then I believe that is where the group is getting its other funds, my research tells me that there are more than 40-50 sister companies using the itrade platform which are not listed on the forum. Going by this assumption. I believe this is how the group pay off the withdrawal. Essentially going by the analysis, I believe what they are doing is that they are acting like their own trading house. Playing one position off the other and hopefully earning money from there.

In essence, as long as Andy is still in KK and you can still get the staff from Eastern rich, then you are ok. but if they disappear then good luck. Edgar will eventually have to pay off people because if not they will not get any more new meat ( sorry i mean clients). So just keep a close watch. Sit tight and wait i suppose. I don’t think anymore payment will be out till then anyway, if they did and people find, trust me there will be hell from investors who did not get it.

So if you are from Edgar inner circle, just tell them if they show preferential treatment and Andy’s lackey and relations or Jerry or Feng’s friend get their money but other investors never get then I can assure you there will be outrage from my friends.

Good luck

409

Just a quick reply to this Money Laundering issue. Let me just clarify for Mr Allen about his comments. Not sure if anyone actually sit down and read about the Money Laundering and Counter Terrorism bill imposed by most country ?

Ok, friends. Just to let you guys in on the process at the bank, mind you i have people who actually work in the banking industry and have consulted with them. So this money bouncing back because of Money Laundering is totally nonsense.

Now here are the points in Money laundering activities there are 2 things to consider the sender and the receiver ( Beneficiary)

  1. For the sender : If your company is legit, assuming Edgar is not blacklisted by the banks as a possible scam and money laundering company then the Bank will have no issue with the Sender. Unless of course Mr Allen is implying that Banks are wary of Edgar as a scam company. Companies like FXCM, etoro, Oanda deals with millions of dollars and thousands of withdrawal with no issue because they are accredited and licensed. I believe that is why Edgar had to close so many accounts. They open in ASB in NZ, move to Hong Kong -from HSBC then to Hang Seng, then re-open in NZ HSBC. Then closed it, then re-open again under Legion. Ok for the smart people, does that already tell you something about Edgar ??

  2. For the receiver : If you have notice recently, Banks now require more information when you open up account. They photocopy your i/c and also take more details, they call it the 100 point or 120 point check. NOW, banks don’t bounce your money because of suspected Money Laundering, what actually happens it that all Foreign Payments are scrutinized at the Reserve Bank level. They have a software that actually will pick out possible issues. They will let the money go through but you will get a call from the tax office sooner or later or you will be monitored by Federal agencies in charge of anti-terrorism.

  • If you have always used the same bank details and accounts. Money don’t just come in one month and bounced the next. If they tell you because of these money laundering issue. Its really nonsense. They just make up stories to tell people.

  • Give you another interesting story. I know some people ask why Andy have not traded regularly since Nov ? I know from info there was 2-3 weeks he did not trade. And an email went out telling people because of some US non-farm payroll reports coming out in US. For those who have received the email. Guess what, this report comes out every month in US, so why did Andy still trade weekly for the past year then ? Seriously don’t just listen to agents, sometimes they don’t even know what they are talking.

410

Agents is not the trader, and I found them not well educated in forex industries. in this case, I believe that even Andy him self is not a professional trader.

411

It is fortunate that there are enough smart people to counter the excuses given by the defender of Edgar in this forum. One of my qualifications is also that of a professional accountant. I must say Allen Leow is having a hard time trying to give acceptable replies as to why there is no money coming out from the company to pay for withdrawals. May be the best thing he can do is to be honest and say there is not enough money on hand to pay for the withdrawals and propose an alternative, e.g. half now and the other half when there is more money received or any other type of combination.

A Ponzi scheme is not altogether bad. In fact it is better than Unit Trusts. Yes, they (UTs) are highly regulated; they each have a board of trustee. When they take your money, straight away an average of 6.5% of it is taken off your investment before a single cent is invested. You may even have to wait for 8 years before you can see any gain or even no gain at all. So who wants to invest in UTs. A Ponzi if run smoothly can survive for many years and return much profit to investors. The only time trouble comes is when there is a major catastrophe such as the 1997 Asian Crisis or the 2008 financial crisis in the West and the wheel stops turning. If there are no repayment problems many people will want to invest regardless of whether it is a Ponzi or not. If the company gives regular believable high returns for long periods, people will still rush in even if you tell them it is a Ponzi.:cool:

412

You are right, Ponzi can give good return. Bernard Madoff got away with it for so many years. And those who put in money in the early years got huge returns

The scheme is only good for the early investors. If its going bad, and you invest, technically you are almost guaranteed not to see the money again. If the scheme is at the beginning stage, them you might gain something like those early investors of Edgar. But those who threw in their money from August onwards, then you are taking a big risk.

Anyway, I hope that people will be able to get their money back. I think they basically stop most if not all payment from Nov onwards. A number of my friends who withdraw in Nov, got their money put back into Ledger.

Oh one smart thing about Edgar, if they were to collapse, I bet we will never get to prosecute the REAL director. Trust me the director is not from the Philippines. So they can come one day and disappear the next.

The next person to harass i suppose for money will be Andy. One funny thing, Andy told people once that he choose Edgar because they were very quick in Withdrawal about 5 days or less…but now Edgar is 2-3 month. Yet he still stay with them ?

People or his agents tell people that he have been trading for almost 9-10 years. He is not even 30 years old, and was a former chef, so I assume he must start really early as a trader. Edgar only started in 2009.

BIG QUESTION : DO ANYONE ON FORUM OR PEOPLE LIKE ALLEN OR ANDY’s Supporter know which company he was previously from ?? Or which company he traded with ? All i hear is that he is a super trader with 8-10 years experience but no one i know seem to know which company.