Help with UK scam investment company

[Sheila]

A dear 73 year old elderly brother and his wife have lost almost all their savings (a very substantial sum I gather) in a scam scheme run by an English company called Titan Trading.   This firm is based in England, but as the brother and sister live in Australia they cant seem to find anyone to help them at this end.   I'm not sure of all the details, all I know is they are hurting badly.   I vaguely recall hearing about this firm on the news but as it didnt involve me I didnt take much notice.     Titan Trading will answer phone calls, but as soon as they know who is calling, they just hang up.

 

Does anyone know of anyone they can contact in the UK who may be able to help them - talk to them, add their names to a list, whatever it takes to help them get through this, and maybe offer a bit of hope of recovery of some of their money.

 

I hate to hear of scams like this, specially when it involves our dear friends.   We are warned so often about being careful with our investments - in newspapers, over the tv and radio, yet it still happens.   

 

The sister said they are leaving it in Jehovahs hands.   Its just so sad.  

 

 

 

 

[Cool Cat]

Did they do it through their bank? Their bank might be able to help. Other than that maybe there is an equivalent of a trading standards in Australia. An office of fair trading or consumers affairs may be the way to go as well.

 

[Tortuga]

I looked up Titan Trade and it looks like they are brokers.  It's hard to tell if it is a scam or if they are just bad brokers...

It's too bad the brother didn't use a reputable, regulated broker instead of using Titan Trade. 

 

http://www.binaryoptionsthatsuck.com/review/titantrade-suck/

[Sheep]

I feel bad for people who are looking for an honest, solid, reputable company so they can retire in relative comfort (not necessarily rich), only to find out it's a scam. I live in the province of Quebec in Canada, and in the last few years (since about 2004-5) I have heard so many stories here of supposedly reputable companies that turned out to be a scam. Court cases are still going on in regard to these. The only solution to these is Jehovah's Kingdom, a completely honest government.

[Tortuga]

1 minute ago, Sheep said:

I feel bad for people who are looking for an honest, solid, reputable company so they can retire in relative comfort (not necessarily rich), only to find out it's a scam.

I have limited knowledge of this but I believe there is big difference between a broker and an investment firm. There are several reputable companies in the US that will manage investments, I'm not sure that a broker is the right way to manage a retirement fund. 

 

On a side note, there may be some that will look at a situation like this and condemn the  stock market and everyone involved in it.  To me it is like buying a car. I can walk down to the local used car lot and buy the first car the salesman says is right for me and if the used car fails, do I blame the entire automotive industry and everyone that works in it? OTOH I can do my own research, decided the best car for my needs, go to a reputable dealership and try to get the best deal possible and I'll have a better chance of being successful. 

 

After spending just a few minutes researching Titan Trade, I know that isn't where I would put my retirement money, I feel sorry for anyone that mismanages their money but it is worth the time to understand what you are doing.

[Sheila]

Thanks for your replies.   I have texted the web address you supplied Brother Richard, but I dont think the brother and sister have much hope of recovery - particularly as the company wasn't regulated.   In our local news today was a report that one smooth scammer has lost over $A7million and is bankrupt - after making several wrong "investment mistakes" and is currently living on a government pension. Dozens of people are affected, its gut wrenching to hear their stories.     We so need the paradise to put an end to all the worry and distress of living in this rotten world.  

Edited February 12, 2016 by Sheila
wrong word inserted