CWM FX - I Told You So !

Cwm raid made it onto tv

Please watch "The pension revolution: tonight" on itv + 1 at 8:30 (sky channel 131). The raid is towards the end.
 
Indignation said:
In respect of non-disclosure... Don't you just find it fascinating how someone in good faith agrees, without pressure or duress to hold information private and confidential and not to disclose and then....
Click to expand...

it was the lack of investors coming forward that reminded me of this thread where t2w members busted these weasel scammers wide open.

the nda was the key on that one!

anyway, whatever happens, as per the pousa thread, as soon as it becomes apparent to investors that their deposited funds are at any risk of going missing, the police will have no problem finding them and they'll all be singing like canaries.
 
Lightning McQueen said:
it was the lack of investors coming forward that reminded me of this thread where t2w members busted these weasel scammers wide open.

the nda was the key on that one!

anyway, whatever happens, as per the pousa thread, as soon as it becomes apparent to investors that their deposited funds are at any risk of going missing, the police will have no problem finding them and they'll all be singing like canaries.
Click to expand...

I think it's funny that when a company is looking for more customers, but asking people to sign NDAs, it's very anti-logic.
 
Sorry guys , I've been told the same. Here's something interesting hopefully it will make you smile:

The sponsorship situation saw a lot of feverish activity yesterday, with bikes being restickered and logos removed from leathers. That provided a particularly comical result for the CWM LCR Honda team of Cal Crutchlow and Jack Miller.
The police raids on the CWM offices, and the removal of the CWMFX trading platform leaves the CWMFX.com website now out of operation, for the moment at least. The team will continue for the moment with CWM branding, with the references to CWMFX.com removed.
To achieve that, the FX has been removed from the CWMFX.com on Cal Crutchlow’s leathers. That leaves the British rider with CWM.com emblazoned across his chest, at least until Alpinestars can deliver him a new set with a revised design.
The trouble is, CWM.com is not a website run the financial services company backing LCR Honda. Instead, type that into your web browser, and it takes you to the website of Carsey Werner Television, the production company behind the hit TV comedy That ’70s Show. That seems somehow strangely appropriate.
 
Mel656 said:
Some level headed reporting

http://www.moneyweb.co.za/in-depth/investigations/belvedere-what-do-we-know/
Click to expand...

Patrick Cairn's many articles on this subject read at best appeasement, at worst disinformation that could possibly cost people their life savings in the long run.

interesting how David Marchant of offshore alert commented in one of the belvedere articles

I have saved this article and another one on this site and, when this group officially collapses with massive losses to investors, I intend to blog about your irresponsible reporting of this matter.
Click to expand...
 
Mel656 said:
Some level headed reporting

http://www.moneyweb.co.za/in-depth/investigations/belvedere-what-do-we-know/
Click to expand...

Guys,

Although I have officially left this forum I thought I would add a post just to ‘clean’ things up .

First of all, and once again, it is important to state that only the authorities have the regulatory power and resources to fully investigate CWM and we cannot pass any kind of judgement until their work is done. I have stated this from the very beginning and have only suggested caution and due diligence in light of information and no more. That is the ONLY conclusion for now. There is a phrase ‘there is no smoke without fire’, unfortunately, there can be ‘smoke with no fire’ sometimes.

Keeping Things Factual

Whatehat (a new poster). Please keep things factual (to protect T2W). If you worked in CWM FX (I described it and you agreed with my points) please state some factual points maybe number 1,2,3.... You also made a negative post about Mr C Droste. Please keep things factual and no emotional attacks. If you have contact with other former employees, let them post up their experiences (again with a list of points). Maybe some had positive experiences?

Belvedere & ******

Belvedere it appears has been exposed by David Marchant of Offshore alert as a Ponzi scheme. Now although he is a credible man we cannot just take one man’s (albeit credible) word and the fact that Belvedere is under investigation by Mauritius regulators to draw conclusions. Here is where ****** comes in. For those who do not know, ****** & Partners is an offshore financial advisory commission-only sales company advising on financial products to expats. (Note: They are by no means saints and seem to have a poor reputation in some quarters due to their selling often-unsuitable opaque life insurance products generating very high commissions for their sales force. They are, however, a very large multinational with billions under management.)

****** has come out publicly that Belvedere is a fraudulent organization and have added to the Offshore alert’s body of evidence also stating publicly that they helped expose Belvedere. It appears that ****** is attempting to regain millions for investors from one of Belvedere’s funds (the Kijani fund which is part of the Brighton SPC). They are publicly stating that Belvedere have committed fraud. Of course, supporters of CWM would say that Mr Marchant could be working alone and ‘crying wolf’. However, if an international company like ****** weighs in and publicly states that Belvedere have defrauded them out of at least one fund and that they are actively trying to regain money then it is significant. The argument is that it is hardly a single man making the accusation but also a very large group (******) making the accusation together with him. However, they could be wrong and I leave it up to others to pass judgement.

http://www.biznews.com/interviews/2...edere-and-old-friend-kellermann-both-of-them/

on the other hand

http://www.moneyweb.co.za/in-depth/...ministrator-says-brighton-spc-is-not-a-ponzi/

The link with CWM and Belvedere

This isn’t a conspiracy theory and neither is the link ‘tenuous’. CWM is very much part of the Belvedere group.

1 In a previous post I put up a link to CWM Securities which clearly stated that Belvedere was part of ‘our group’. CWM since took it down (following my post). (www.cwmsecurities.com)
2 Mr AC previously worked for Belvedere according to the Wikipedia entry
3 The Brighton SPC is still on the CWM website under CWM Funds (it is managed by Belvedere). I hope CWM doesn't take it down after this post.(http://cwmfunds.com)
4 Belvedere it appears was setting up funds named CWM for CWM.

CWM PR Releases

Perhaps CWM will release a more comprehensive PR release addressing some of the points ? (Their most recent one simply blamed former employees for conspiratorial activity and gave no answers to any of the cautionary points)

(Note to CWM PR: The recent PR release makes no logical sense. Concerted activity by former employees would have had to be international and huge. It would have included the City of London police, the FCA, David Marchant , ****** & Partners, South African authorities, various international journalists and media outlets including City AM, the Mauritius regulator, public domain facts and even the ubiquitous Mr. Google. Personally, I have had no direct contact with any one of them except, perhaps, Mr Google. Also, the other press release suggests the raid was part of an operation against boiler rooms when comments made by the police suggest it referred to their concerns regarding the guaranteed investment promoted by CWM)

Conclusions

The investigation needs to carry on by the authorities as they have the power to do this. Hopefully, there will be further announcements. We must also allow for the possibility that CWM may also have reasonable explanations for some of the issues above and not let emotion get in the way of any objective assessment. Maybe somehow CWM have been victims in some way? Or perhaps only some units of the company were at fault?

Who knows maybe senior managers at CWM may have been duped somehow by the parent company (like ****** apparently was by Belvedere) ? Maybe they didn’t have an adequate compliance function being a new company? There are many many potential explanations and we have to allow for all them as well as the very obvious ones. Only time will tell and these things often take time.
 
Last edited:
is this is new news? as in I haven't seen this reported anywhere, here in the thread or elsewhere in the news.

as of 12th march 2015 they started up a new company named cwm fx limited, with droste as the only company director.

http://companycheck.co.uk/company/09485720/CWM-FX-LIMITED/directors-secretaries

scratching head - why would they do that? what corporate smoke and mirror is in play and what does that achieve? other than throwing droste under a bus perhaps.
 
Hello everybody,

I invested money with them. I only realized their company was getting investigated when I received an email from cwmfx on 2nd of April stating 'my funds have been withdrawn'. My only assumption is the police made them return funds to customer. I do not yet know if I will recieve all of the funds I have ever invested in them or simply just the funds that were left in my account at the time. I will let you know during the week after the money gets deposited into my account if they gave me all the money I originally invested or the remaining balance of everything I lost.
 
Last edited:
I thought they only ever took 10% from your account? Then leveraged it up ten times?...
I really hope you get your money back pal.

Will you be taking it out of CWM for good?
 
You must log in or register to reply here.

Similar threads

T
I told you so!
Replies
2
Views
3K
fibonelli
fibonelli
N
FX Spot Traders everywhere
2
Replies
24
Views
8K
josbarr
J
T
Employment Situation Anniversary
Replies
0
Views
2K
Trdr
T
S
Which two FX pairs to choose?
Replies
11
Views
3K
HornedGod
H
L
Fx Legion USD-CHF Grail Signals
2 3
Replies
42
Views
7K
JER08
J
Top