I've learnd the the MBI is a ponzi after that and the big boss is the founder for some of the ex-ponzi. But this TXFI is just another thing. I'm started to study on it. Am a bit of regret of ignoring it for a few years. Maybe the old saying was right, "the biggest risk is not taking risk"

MBI was set up in 2009,...
BNM raided in in 2017..
..yes, "the biggest risk is not taking risk"....

Just think of all the money he had made during those years... And before that he made it with Island Red Cafe scheme too.

Without taking risk, he would not have made it as who he is today.

https://cilisos.my/coffee-macau-scams-and-b...amed-jho-low-2/

Any similar modus operandi between MBI and Triumpfx?
🤔🤔 Perhaps too good a returns n very consistent too?

This post has been edited by MUM: Aug 15 2022, 04:06 PM


Attached thumbnail(s)

Let me draft what you will write later. Feel free to fill in the name of the NEW SCAM.

I've learnd the the TFXI is a ponzi after that and the big boss is the founder for some of the ex-ponzi. But this {NEW SCAM} is just another thing. I'm started to study on it. Am a bit of regret of ignoring it for a few years. Maybe the old saying was right, "the biggest risk is not taking risk"

👍👍
I think those that had invested in Island Red Cafe or Geneva gold last time could also use his draft...

I've learnd the the Island Red cafe is a ponzi after that and so are Geneva Gold was a scam too.
But this Tfxi is just another thing. I'm started to study on it. Am a bit of regret of ignoring it for a few years. Maybe the old saying was right, "the biggest risk is not taking risk"

Hopefully he does not have to use Your draft copy 😂😂😅😅

This post has been edited by MUM: Aug 15 2022, 04:01 PM

I think its no point for us to stop them from investing in this scheme. This scheme will not burst as long as no mass withdrawals and they remain to be "account rich". The server will only close out of sudden when all people start withdrawing their money out from this scheme. It may take few years for this scheme to burst. The withdrawal fees of 100USD will be enough to prevent people to withdraw their weekly or monthly returns.

This post has been edited by koaydarren: Aug 15 2022, 04:04 PM

👍👍

Please use common sense lah .... oops sorry I forgot you guys lost it.

BehindMLM website has detailed the link between Hermes Leong and TriumphFX. All info below from BehindMLM.

First : SFC of Hong Kong

Name: Triumph Global (Asia) Limited/ TFX Global
Type: Unlicensed entities
Address(es): Unit A-C, 25/F Seabright Plaza, 9-23 Shell Street, North Point, Hong Kong
Website: www.tfxglobal.com and www.tfxi.com
Remarks: The companies give the above Hong Kong address but they are not located there.
Add date: 25 Aug 2015

The SFC’s warning was issued back in August 2015. While the company names are different, one of the cited website domains, “tfxi.com”, is the same used by TriumphFX today.

Second : SingliWorld scammers arrested, facing prison time and fines

Leong’s other charges included one count under the Companies Act, in which he allegedly used Singliworld, a company incorporated in Singapore, to conduct fraudulent trading.

The charge sheet stated that he induced customers to invest in a “leveraged” foreign exchange trading scheme with Hong Kong-incorporated Triumph Global (Asia) Limited and New Zealand-incorporated Union Markets Limited, although the two companies were not involved in any genuine foreign exchange trading activities.

They also had no sustainable means of funding the returns to customers.

If convicted of fraudulent trading, Leong could be jailed for up to seven years, and/or fined up to S$15,000.

Update 29th March 2022 – Four years after their arrest, the SingliWorld scammers’ trial has begun.

Prosecutors argued at the start of the two men’s trial on Monday (28 March) that the pair managed to lure thousands of hopeful investors into putting their money into Singliforex, an investment scheme which promised that a team of professional traders would use the funds to trade in “currency pairs” on the world’s forex markets.

Third : Triumph Global brings us full-circle back to the SFC’s 2015 warning.

Singaporean authorities cite Leong as a member of Triumph Global’s “management committee”.

It seems after the SFC’s warning, Leong and whoever he’s working with renamed Triumph Global to TriumphFX.

The fictitious corporate address in Singapore was also dropped, in favor of shell company registrations in the BVI and Vanuatu.

Vanuatu recently caught on deregistered “Triumph Int. Limited” back in May 2021. Guess the new name of the company and where they moved to next!

Just google the returns of top hedge funds of the WORLD which are managed by professional risk takers. Use common sense to compare both sets of returns.

Victims should make a big fuss about how our funds have been mismanaged by EPF (for Malaysians) and by CPF (for Singaporeans), giving such low yields that don't help us in our retirement.

I hate to say this, the only winner will be the scammers. Even though you managed to get your capital back, there will be many victims, who came in later than you, that lost their life savings. By fuelling this scheme, you are indirectly destroying the lives of countless victims.

KARMA IS A BITCH.

Yep. All these TriumphFX plotektor, knows it's scam, but as long as they can make money, sumpah tak kesah and invite all their friends and family to hamkachan and hopefully he himself runs away quick enough.

This is BLOOD MONEY.

Blood will be on their hands.

Eating pop corn reading this thread haha waiting for TFX to collapse, ex MBI "investor" here who loss everything (lucky considered small amount cause still young and dumb).

Mind sharing what is the max that they will recommend/suggest one to invest in MBI?
How lond did you invest in MBI?
Mind sharing how much did you lose in MBI?

You're young and didn't know much but you are so much wiser from your experience. I respect your bravery to share and to admit your own past mistake.

Can't say the same for those who remain silent!

👍👍
Much better than those that think and tell of this

"I've learnd the the MBI is a ponzi after that and the big boss is the founder for some of the ex-ponzi. But this TXFI is just another thing. I'm started to study on it. Am a bit of regret of ignoring it for a few years. Maybe the old saying was right, "the biggest risk is not taking risk"

They experienced it, they knew n realised what made them fell into MBI. Yet they still consider TXFI by giving this saying "the biggest risk is not taking risk".
Unless the reasons they fell into MBI previously was not due to
naiveness, (possible due to did not explore more about the tell tale signs of scams)
dumb, (possible due to just listen to and just "see" what those promoters told or shows them)
greed (possible due to blinded by those constant good returns)
and just thinking of NOT much money need to be placed in (possible due to up lines / promoters tell them to test out just with some money if scared or tell them "don't invest with money you cannot afford to lose". Or selling them this, "you will regret for ignoring it for a few years, for you did not listen to this old saying that was right, "the biggest risk is not taking risk")

This post has been edited by yklooi: Aug 16 2022, 07:55 AM

I wonder, why Malaysia got some many Ponzi and all successfully run for years. Are Malaysia so "Stupid"? Or Cheating DNA is inside us naturally!!!

I will just share a few things:

First a Tik Tok video on how MT5 can be manipulated: https://www.facebook.com/Hatta.JTX/videos/3165422067040523
take it with a pinch of salt though, you make your own judgement. Video in Mandarin.

TriumphFX was awarded as "The Most Influential Broker in Asia" by WikiFX back in 2019. Now, WikiFX labeled it as "Scam" status:
https://www.wikifx.com/en/dealer/9271730731.html. If WikiFX is not to be trusted, I guess the same can be said for the award they gave out previously.

Their official Facebook page: https://www.facebook.com/triumphfxofficialpage/ (this is the official one, right? correct me if I am wrong). Google the address "Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Seychelles La Misere, Grand'Anse Mahé, Seychelles" and I saw multiple different companies sharing the same address? So I can only imagine that "Suite 3" will have multiple companies. Btw, the address registered with Seychelles FSA, although is the same complex, but the address is slightly different: https://pictr.com/image/BzLp68 (some pic uploaded by another forumer).

The Facebook indicate that their website is this: http://campsite.bio/triumphfxofficial. I don't know why a regulated broker will use such link. Having an actual domain with their name is more appropriate, but given how many tfxi.com, tfxi2.com, tfxi3.com have been created, I rest my case.

The Facebook page also have posts that shows "Eid Mubarak". However, they never posted any posts for Cyprus National Holiday, such as their Independence Day, which according to Google is 1st April 2022. Do remember their original country is Cyprus, not Malaysia (or... hmm... lol).

I believe most investors that participate in TriumphFX will not know who their fund managers are and who is in the management team of TriumphFX. Some may believe that fund manager cannot run away with their money because the management team/people in TriumphFX is. I don't know how they intend to do it when they don't know both parties. Log a support ticket? Lol.

As for the way to deposit money, last time they use Help2Pay or PayTrust88, which will not redirect to FPX, but it will redirect to another webform to ask you fill up username/password. This is how someone can give away their first level authentication to their internet banking, please don't be so naively think that it is FPX, no it is not. FPX will redirect to the respective bank's login page, not to another dodgy webform.

To me, what I listed above already considered red flags to me, regardless whether the platform is legit or not.

Btw, let's take a look at a recent broker that just went south - ASJ Forex Global.

Let's take a look and this video that said how they safeguard your money: https://www.youtube.com/watch?v=X0Gej7jpWKg

Take a look at their video of their event night: https://www.youtube.com/shorts/BvtgoLz85c0

Heck, they are even doing a lot of charity work. Sounds familiar?

And this guy is trying to find ASJ office in Hong Kong: https://www.youtube.com/watch?v=R7milyOb72I

Lastly, GOOD LUCK!

This post has been edited by kambingkoh: Aug 16 2022, 09:40 AM

Malaysia don't have strict regulation to manage this and at the same time, my personal speculation is that authorities are partly benefiting from it as well to let it run. Ponzi are easily managed. Funds collection require license. If a channel open up for complaint and if they do it efficiently, one complain leading to summon and subsequently arrest and jail time, Ponzi won't spread so easily here. But no, despite knowing, we just give a slap on the wrist. And then they will return and do another new ponzi.

Of course, our people are also a group of stupids that believe in nonsense such as ghost. Illogical believe requires the mind to remain impaired.

hey bro, you are making me scared now weiii

my upline friend showed me some forwarded images of msian TFX investor in cyprus .. got meeting there and presentation, where they said they got a license (safe and regulated but i am not sure what is the liccense) and i can see in the picture is attended by many uncle auntie chinese (MULTI-MILLIONAIRES from TFX investment my friend said but they look like normal father la mother la). actually their office look small in the picture, maybe rented a office suite haha

i ask my fren about the tfxi scammer in singapore who was arrested, my friend said those are fake and not linked to tfxi real platform now apparently the scammer bought tfx website address to borrow the original tfx popularity or fame and get themself extra customer ? but according to my friend it is NOT related 100% , as my friend said is scare tactics from haters who are jealous of tfxi investors become millionaires?

i also not so sure now wei who to believe.. hahahahhhhhhh

I won't go so far as calling Malaysia stupid but it's a combination of (1) lack of financial knowledge, (2) greed and (3) wanting to live a better life.

(1) Lack of financial knowledge
- until recent years, our education syllabus never go deep into basic financial management, primary and secondary students are starting to learn about these issues when the entire world has started much earlier, this is the first step before introducing them to scam, fraud, hack, data security, etc.
- while I am lucky to have learn about various derivatives such as options, swap, swaption, mortgage backed securities, forex, forex swap, interest rate swap, etc, many people don't and they need to rely on financial advisors. Unfortunately they don't have access to certified or qualified financial advisors, they go to their families and friends. BIG mistake because their families and friends are not financial advisors!
- I posted about S&P research about financial literacy previously. Malaysia scored poorly. There is generally very poor financial knowledge, of how the financial world works, the risk involved, the mechanism of investment, etc. You don't just send your money to a third party without having proper protection in case of something goes wrong. How many of the victims read thru the terms and conditions, getting these vetted by maybe lawyer, etc? They don't. They just look at the return numbers.
- Many victims don't know how to do proper due diligence. DrFX has shown proof that trades can be manipulated but how many want to believe. They rather believe their families and friends who showed them the dodgy spreadsheet with great returns. A thief will never admit being a thief. A scammer will always say he is not the scammer!

(2) Greed - common sense, logical thinking, eyes, etc ... out of the window.

(3) Who doesn't want to have a better life with no worry about financial. Does it make sense when this can be achieved without having to work hard! Even the successful YouTubers are working their asses out to create contents to generate million of views, but our victims believe they have found a golden goose (which by the way is only in fairly tales). By the time it's too late, they will be worse off.

Remember, a "good" scammer will always have answers ready for you.

Let me repeat again, you can verify all these yourself at the authorised websites.

First : SFC of Hong Kong

Name: Triumph Global (Asia) Limited/ TFX Global
Type: Unlicensed entities
Address(es): Unit A-C, 25/F Seabright Plaza, 9-23 Shell Street, North Point, Hong Kong
Website: www.tfxglobal.com and www.tfxi.com
Remarks: The companies give the above Hong Kong address but they are not located there.
Add date: 25 Aug 2015

The SFC’s warning was issued back in August 2015. While the company names are different, one of the cited website domains, “tfxi.com”, is the same used by TriumphFX today.

Second : SingliWorld scammers arrested, facing prison time and fines

Leong’s other charges included one count under the Companies Act, in which he allegedly used Singliworld, a company incorporated in Singapore, to conduct fraudulent trading.

The charge sheet stated that he induced customers to invest in a “leveraged” foreign exchange trading scheme with Hong Kong-incorporated Triumph Global (Asia) Limited and New Zealand-incorporated Union Markets Limited, although the two companies were not involved in any genuine foreign exchange trading activities.

They also had no sustainable means of funding the returns to customers.

Third : Triumph Global brings us full-circle back to the SFC’s 2015 warning.

Singaporean authorities cite Leong as a member of Triumph Global’s “management committee”.

It seems after the SFC’s warning, Leong and whoever he’s working with renamed Triumph Global to TriumphFX.

The fictitious corporate address in Singapore was also dropped, in favor of shell company registrations in the BVI and Vanuatu.

Vanuatu recently caught on deregistered “Triumph Int. Limited” back in May 2021. Guess the new name of the company and where they moved to next! There was an article that mentioned the flow of these company names and how it ended up in Cyprus and another African island off the coast of Africa. Will post when I find it.

You think Singapore AG simply bring someone to court without strong evidence?

1. I am not sure if it's a scam or not, but so far I have been getting my monthly withdrawals.
2. It is breakeven when i eventually get back my the money i put in to work. The rest after that is all profit.
3. I agree with you on this, invest money you can afford to lose, not willing to lose.

In summary, I am not sure if this is a scam or investment. Just like all other investment, there is always the risk and reward. If can also lose big say if you invest in stocks or crypto. Want save investment then just put in FD. Nothing is certain. It is a zero sum game after all.