Hi I am a customer of Grosvenor Capital Advisors. They took over my account from another investment firm, Provideo Financial, where I was a client before. Predictably (in hindsite) my first investment with Provideo Financial did not work out, so they proposed to shift my account to another company where something very exciting was going to happen soon. The only problem: to get stocks from this company, I would have had to increse my investment. I did not do it. Now, after the takeover, Gosvenor proposed to transfer my account to shares from yet another company (Rubber Research Group). This firm has at least a website but real data are not available. Suddenly the story came up that an investor was trying to buy a majority of the shares of RRG. Grosvenor proposed to me to sell my shares to this investor at a much higher price. The only little problem (again): I am supposed to invest some more because the selling process apparently requires quite big blocks of shares. Of course I am tempted to do the deal in order to save my former investment, particularly, since my additional investment would be small. However, my head tells me that I should not do the deal. What do you recommend?
This afternoon I told them that I would agree with the deal but since then all my doubts have come back, and the money is not yet paid out. Then I looked up Fraud examiner, asking my question now.
Hello and thank you for your question, which I will be happy to assist you with. Please let me know if you have the websites of these companies?
Provideo Financial does not exist any more, but the websites of Grosvenor Capital Advisors ans Rubber Research Group can be found in the internet
ok let me see what I can find out about them
First of all - Grosvenor. Their site has been around since 2009 and even though their website states they are based in Japan, the website trail traces them back to Latvia. They have been reported in the past by other consumers and it would appear that they are linked to the original company you dealt with who have 'recommended' them for that particular reason:
http://andrew-drummond.com/2012/03/27/boiler-room-man-seeks-right-to-earn-living-in-bangkok/ (you can see the first comment discusses them)
http://www.griffin-miller.org/financial-risk-and-security-management/64/waarschuwingen/ (it is in Dutch but has a list of rogue brokers and they appear there)
Rubber Research Group - they claim to be registered in Hong Kong but after checking the official company register there, i can confirm there is no such company registered in the country.
All points towards a further scam and I strongly recommend you go no further with them.
That is definitely my intention. Does it matter that in a moment of weakness I agreed to the deal?
No, it is highly unlikely a scam company will pursue you in the courts for not going ahead
ok thanks a lot I am highly atisfied with your quick research and your clear advice.
I think I have the information I needed. Thanks a lot
My pleasure all the best
I certainly will
Thanks I will close this quesiton now