Edgar International

Beginner Questions
457

Hi,

I will let my friends know, especially those who have invested in the scheme. By the way, I have friends working in New Zealand, if there is ever a need to make a report. I would be most glad to provide my service.

I do really hope the investors can get their money back. Quite a few of my friends have put in quite alot of money.

458

Although Allen Leow said that Andy’s name appear in News b4 but why he still want to hide Andy’s full name?? Such a 100% sure win trader should be “Very pound” to shown his full name rather then hide it.:confused:

459

Having a meeting, make a “police” report in New Zealand can help the investor to get back all the money??? Do u have enough evident? Even if he found guilty may be he only go into jail. Do u think he will give back investor all the $ after go into jail?

Sorry, i just want to express my opinion i don’t have the intention to hurt anyone.

460

Hi,

I did not say make a police report, as police is not the one you want to go to, my friend in NZ can provide any evidence or help if needed. Eg go to Edgar “office” and speak with the receptionist. Another way is to speak with Robert Wong CA who was previously the accountant. Personally, if Edgar disappears, you probably cannot get back your money. Unlike Swisscash who did operate out of Malaysia. Edgar is registered in NZ. Its hard to prosecute.

Maybe you can speak to the earlier investors who wants a meeting. I don’t know what are their plans.

My option will be to sit tight and wait until March to see what happens then

461

I was wondering why Union pacific limited and some of the other so-called forex brokers all based in New Zealand mostly have Filippino directors.
Is it just a co-incidence or are they from the same group

462

Anyone … help …
any estimate when is this mess going to be under control.
And why are they not swimming in money ?

463

I have been to his office and also met the guy.
He said this is no scheme and the reason for the delay is the long Q.
Anyone knows what else can WE do to get back our investment ?
Also,
he recommends new investors to Rostenburg instead.
No Q there he said.

464

No withdrawals for CNY. They took off the withdraw form last month.
My agent says its temporary. :mad:

465

So they deducted but put it right back ?
What does it tell you ?
No money ?
Change their mind ?
Andy needs big sum to reach NY ?
What else ? :confused:

466

very obvious the money is not there
or something not so funny is going on
Andy still walks around KK as if no one looking for him
I WAS ALSO INTRODUCED TO HENRY,
ANDY’S RIVAL AND GOOD FRIEND I WAS TOLD
SAME iTRADE SAME NEVER LOSS
ANYONE GOT ANY INFORMATION

467

Hi all,

What can we do? No Christmas, No New Year, Got any chance to celebrate CNY?:confused:

Hope the GreatMan ( Mr Andy ) could help to expedite the withdrawal issue.
All our happiness lai on him? My Agent told me, he is a man of Honor and very helpful to the needy.

Lets hope for the BEST :slight_smile:

468

Edgar has done many unusual things such as
1 deduct and put back funds from accounts
2 delay payment indefinitely
3 change banks 3 times since September 2010 HSBCNZ HSBCHK ANZ
What does it tell you ? :confused:

469

you mean you receive payments ? In december ?
Congrats !
Hope mine comes on time for cny.

470

a friend told me that andy use to work for another guy
henry
who is now his rival and friend
henry use to work for bank negara
very smart and so on
henry has been trading andy style
not with edgar but another company
zeta
i dowload the trading console
but need an account to get in
looks 100% like edgar
anyone knows anything about henry ?
The trades poundsterling-usd instead of yen

471

Hi,

Every website that uses the itrade platform are part of the same group. The way the group operates is simple.

If you have “customers” you can be a partner in their group. ( I think the Zeta Capital Management does highlight the point ) There will usually be one main trader that indirectly owns the Website or the name. It seems to work like a cell system.

You will notice that each group will be separate from one another. From the way Edgar change their bank it seems mainly - Regal, Edgar, Legion, Prince, Cosca are part of one controller.

In simple terms, they may have one regional controller for each group of companies. which is why Zeta website looks a bit different. One strange thing about Zeta though is they never mention about their directors, nor where they are located. Everything is a mystery.

From the business set-up, I believe that they are not actually trading with the real forex market, but possibly itrade is the market themselves, meaning they might be acting like an illegal bookie. Taking one win against the other. Whatever the trader is really trading , i am not 100% sure. But seeing that these group do orginate from Macau its not surprising either.

Basically you will find that the group operates out of the norm of all forex website meaning

  1. No clear forex dealer license being displayed.
  2. Directors are a mystery. ( you might see the name but you will never actually meet the person )
  3. There is no physical office address with real staff of the company
  4. The banking or funding account is either a mystery ( like Zeta ) or funding accounting not in the name of the company like Edgar
  5. There is usually one recognised " trader" with alot of agents going out there to find customers.
  6. The company usually have a short lifespan.

PS. It seems just like i mention in my previous post, if edgar is not salvageable ANDY will move the people to a new company - since this is the 2nd time people are mentioning this - I believe Rostenburg will be new company.

Guess what, i bet Andy will hold an agent meeting telling his agent to move the “new fish” to Rostenburg. Anyway, we need new fish so old fish can get money. There is hope yet for those waiting for money.

I heard some people in Malaysia especially in Andy’s KK have receive some money in Dec, but many still waiting… its like lottery draw. You never know who would strike lottery and get their withdrawal.

My friends are pretty upset, because they have been waiting for almost 2 months. Some with money put back into ledger 2 weeks ago … still waiting…

Andy better do something soon …

472

MasterAsia,

Maybe your friend can get a copy of Edgar’s latest company info and financial report from the Companies Commission (Malaysia’s equivalent SSM). It’ll be interesting to find out what they put under business nature and if they actually got any turnover.

If the company is in operation, you may be able to recover some money from them. However if the company is a dormant company, I’m afraid there’s nothing much you can do because legally speaking, the company has never received any money from anyone.

Why need to wait 3 months? Even if one wants to withdraw 100m cash from the bank doesn’t require that long. I’m afraid the more time you give them, the lower the chances of getting the money back. For example, they could be in the midst of applying some migration visa and 3 months later you won’t be able to find them in the country.

This thread has been viewed more than 40,000 times. More and more people are aware and cautious with the name “Edgar International”. Do you think they are still keen to keep this company “alive”? If they close down Edgar and open a new company, do you think all the existing accounts will be transferred to the newco hence the withdrawal request?

Act fast before he runs away. At least get back some residual, better than nothing.

473

It does seems to me that this scheme or " scam" is mainly carried out in Malaysia only, but with Agents having friends from every part of the world, you will find investors coming from all different countries. The earliest I can find online was Pretigen registered in 2002.

If you start reading other forums you will find that alot of variant companies have appeared along the way in malaysia eg. Top Star Development,UPL, etc.

The modus operandi is usually promising high returns and finding agents giving them commissions to get new investors or recruits. I believe they have developed the new style in recent years because when they are running Top Star development, it was promising “new staff” easy money and in the end the staff all lost in trading. ( Google Top Star Development ) but the “recruits” run out faster. With the new method, Andy and Henry or the other so called Genius forex traders were able to lure alot of unsuspecting people into the scheme where the themselves profit from the money.

To stop this scammer, I will open a new thread specifically to list down all the itrade companies. If you know any not listed just add on the list. So people can be more wary

Andy will definitely change to a new Company. Edgar is a sunk ship, this might be the sequence of events that could happen …

  1. Andy will announce to the Agents about the new company in the agent meeting - telling them to move the clients to the new company. Unforunately, you have to put in fresh investment.

  2. Andy will trade less in Edgar as there is no way he can trade Edgar and Rostenburg together. He might also close out the accounts with trading loss like what the trader did at UPL or those preferrring to wait will have to suffer the agony of uncertainty of withdrawal. Prob pay only when they feel like it.

  3. Andy will start trading more in the new company, and more new Victims will unknowingly join in. I believe Andy will now spread his basket, i won’t be surprise that he uses other companies to trade as well to spread his risk.

The sad truth is that some agents even though will no doubt know that something is wierd, but the power of the commissions they get will undoubtedly drive the greed of men. Remember alot of Agents need Andy for their main income. An agent with a long downline can earn easily 3K-5K USD. which is 15K RM/MTH. so who do you think your agent’s will side. the poor investors or Andy ?

BUT in saying this, if you are the early few, maybe you could earn heaps of money. Would there be a new Mr Rostenburg ?

I will get my friend to look into Edgar’s financial report to see if we can get any. But since its a limited company. Their financial report would not be readily available to the public. I will not be surprised their accounts are
in the ****, i believe their Financials are all fudged. There is no way they can do a proper Audit at all, with all the diiferent banks and the type of Audit evidence needed. If i were to do a pre-audit test, they will definitely fail miserably.

475

I just noticed and believe that Edgar is processing my account.

I joined Edgar in Aug 10 and i did top up my investment in Oct 10, however the top up in Oct 10 being bounce back to my account but the ledger already shown deposit in. The trader keep on trading with my new balance for the several times despite the “bounce back deposit”. I’ve made an withdrawal request in Nov 10 and no news till now. However, this morning when i check my ledger, the report had put a remark “unclear amount” that’s mean the “bounce back deposit”. I not sure whether i should give a little hope to Edgar for getting back my money but the fact is they are updating my account.

I saw somebody commented that there was only one trade in Nov, i not sure where he comes from, i am located in S’pore and there were 2 trades in Nov and 4 trades in Dec. My questions are if Andy decided to move to another new company and stop accepting new investors, why he still trade for us? (there was a trade yesterday).

476

Bounce back deposits are one of the big reason why withdrawals are delayed and fewer trades. Not only you, that is why they are updating every account specially those who have filed withdrawals and thats the cause of delays: trading unclear accounts. The delay also cause every account not to be updated regularly (lots used for trading), that’s why profit seems to be steady.

477

I am just following this because of curiosity but sorry ah, your comment do not make any sense at all