Last year, illegal broker PTFX ran away after blowing up all the accounts of its users, leaving the entire FX market astonished. The number of victims reached 2 millions very shortly, and many of them became homeless and debt ridden just overnight. Although PTFX has crashed, its former staff are still out there relentlessly defrauding investors under the name of other companies. With PTFX under investigation, ZhiMing Huang, the NO. 1 scammer of PTFX, has been exposed to the public.
We learned that while working for PTFX, Huang also signed contracts with several forex companies, including Leighton Futures and JCI. He claimed to have received the title of “Malaysia Dato” while calling himself the “Asia’s No.1 trader”. According to Huang, investors can get 100% profits guaranteed in trading under his help, with a 1% minimum weekly dividend and even greater return proportional to the deposit.
But were his claims real? Or were they simply tales he used to scam gullible investors across Southeast Asia?
Not long ago, we revealed that Leighton Futures was a lame Ponzi scheme that has been blocking withdrawals for a long time. The forex investment project launched by the broker was suspected to be a pyramid scheme, and Huang Zhiming was the trader who ran this project. Interestingly, not long after Leighton Futures collapsed, JCI, another forex company which signed contract with Huang Zhiming, also had a large number of customer complaints for much-delayed withdrawals and pyramid schemes. Currently, some victims of JCI have called the police!
Per checking WikiFX, we found that the illegal broker JCI, rated at only 1.06 on WikiFX App, is without any valid regulation and involves pyramid scheme. In addition, the broker doesn’t use MT4/MT5 software and has been in business for less than 1 year, bearing tremendous risks.
We may conclude from the above information that although with different names, Leighton Futures and JCI, together with PTFX, have been defrauding investors with similar tricks. This suggests that PTFX as well as scammers like Huang may still be lurking around, so investors should definitely watch out for them.