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I am writing this post to ask for suggestions from the community on how to proceed with an fund manager Chelton Wealth based in Switzerland (or Netherlands or London or Bulgaria - as you can see below), who is not living up to its contractual, fiduciary, or just simply ethical standards.
There should also be a number other victims who suffered similar losses, if you see this post, contact me at “cheltonlosses at outlook.com”
So back in January 2021, I put $160k into Chelton Wealth, a Swiss fund manager, By October 2022, my investment was down to around $20k. That's a $140k loss. One must think how stupid I can be lose 140k over this time, well, I don’t blame you, I think I am an idiot too, but here is what happened.
Chelton Wealth, owned by Robert T, seemed reputable. My main point of contact was Richard C, a director at the firm. However, after a few month, I noticed a significant deviation in my fund's results compared to the official results published by them.
In my numerous interactions with Richard, both through email and phone, he said these differences are due to technical issues and special market conditions and assured me that they would be able to recover the losses. Further, he said that they have hedged accounts setup, so part of our loss is in their hedged account, which Chelton will return to us. I chose to believe him for two main reasons: firstly, the firm is registered Switzerland, which gave it legitimacy, and secondly, driven by a desire to recoup my losses, I placed my trust in their promises.
Things looked up a bit in November 2021, but by March 2022, my investment was tanking. I was furious and demanded answers from Chelton. Richard then said they'd make up for my losses through another fund, Fillmore Corporation Limited's Diversified Currency Fund. But I had to wait a year before I could take any money out. I was desperate and agreed, even a contract was signed.
Since then, I've been receiving monthly reports from Fillmore stating that funds are being deposited into my account. Yet, when I attempted to withdraw my funds in November 2023, my requests were ignored at Chelton, and Fillmore rejected my withdrawal request.
After my request has been rejected, I looked deeply into Chelton Wealth and Robert J. Teuwissens, I realized it’s a very elaborate scheme, consisting of multiple companies in multiple countries, none of them regulated, making it very difficult for legal enforcement. (see People/Companies involved)
I am sharing my story now to warn others. It's a hard pill to swallow, acknowledging that I have been scammed.
Chelton people’s linkedin and website looks super legit, and that’s why I chose to believe them again and again.
Robert J. Teuwissens - Linkedin Profile
Richard Corvenius - - Linkedin Profile RocketReach Profile
Chelton AB - Registered with Swedish Financial Supervisory Authority, but not under supervision. See Link
Chelton Capital Limited - No authorization from UK financial authority. See Link
Fillmore Corporation Limited (Bulgaria) - No authorization from Bulgaria financial authority. See Link
Fillmore Corporation Limited (HK) - No authorization from Hong Kong’s financial authority. See Link
There should also be a number other victims who suffered similar losses, if you see this post, contact me at “cheltonlosses at outlook.com”
So back in January 2021, I put $160k into Chelton Wealth, a Swiss fund manager, By October 2022, my investment was down to around $20k. That's a $140k loss. One must think how stupid I can be lose 140k over this time, well, I don’t blame you, I think I am an idiot too, but here is what happened.
Chelton Wealth, owned by Robert T, seemed reputable. My main point of contact was Richard C, a director at the firm. However, after a few month, I noticed a significant deviation in my fund's results compared to the official results published by them.
Chelton’s Reported Alternative I Fund Monthly Performance.
In my numerous interactions with Richard, both through email and phone, he said these differences are due to technical issues and special market conditions and assured me that they would be able to recover the losses. Further, he said that they have hedged accounts setup, so part of our loss is in their hedged account, which Chelton will return to us. I chose to believe him for two main reasons: firstly, the firm is registered Switzerland, which gave it legitimacy, and secondly, driven by a desire to recoup my losses, I placed my trust in their promises.
Things looked up a bit in November 2021, but by March 2022, my investment was tanking. I was furious and demanded answers from Chelton. Richard then said they'd make up for my losses through another fund, Fillmore Corporation Limited's Diversified Currency Fund. But I had to wait a year before I could take any money out. I was desperate and agreed, even a contract was signed.
Since then, I've been receiving monthly reports from Fillmore stating that funds are being deposited into my account. Yet, when I attempted to withdraw my funds in November 2023, my requests were ignored at Chelton, and Fillmore rejected my withdrawal request.
After my request has been rejected, I looked deeply into Chelton Wealth and Robert J. Teuwissens, I realized it’s a very elaborate scheme, consisting of multiple companies in multiple countries, none of them regulated, making it very difficult for legal enforcement. (see People/Companies involved)
I am sharing my story now to warn others. It's a hard pill to swallow, acknowledging that I have been scammed.
Evidence
- All telephone communications with Chelton Wealth were recorded, included the part where they said there are around a dozen investors who have suffered similar losses. - This might be the only NOT stupid thing I’ve done.
- All email conversations are saved
People/Company involved:
Chelton people’s linkedin and website looks super legit, and that’s why I chose to believe them again and again.
Robert J. Teuwissens - Linkedin Profile
Richard Corvenius - - Linkedin Profile RocketReach Profile
Companies owned by Robert J. Teuwissens
Below are companies owned by Robert J. Teuwissens. One has to question, why many different companies? Upon further investigation, I have not found a company that is under financial supervision. (details below). Different companies in different countries make jurisdiction determination and legal proceeding much more difficult.| Company Name | Country | Under Financial Supervision? | Website |
|---|---|---|---|
| Chelton GmbH | Switzerland | No. (link) | cheltonwealth.com |
| Chelton AB | Sweden | Registered, but not under supervision. (link) | cheltonwealth.se |
| Chelton Capital Limited | UK | No (link) | cheltoncap.com |
| Fillmore Corporation Limited | Bulgaria | No (link) | fillmorecorp.com |
| Fillmore Corporation Limited | Hong Kong | No (link) | fillmorecorp.com |
| Coeus Capital | Netherlands | Unsure | www.coeuscapital.eu |
Financial Supervison Status Search Results
Chelton GmbH - no authorization granted from Switzerland financial authority FINMA. See linkChelton AB - Registered with Swedish Financial Supervisory Authority, but not under supervision. See Link
Chelton Capital Limited - No authorization from UK financial authority. See Link
Fillmore Corporation Limited (Bulgaria) - No authorization from Bulgaria financial authority. See Link
Fillmore Corporation Limited (HK) - No authorization from Hong Kong’s financial authority. See Link
