 [link] [comments] Not sure what action to take regarding Chinese Forex scam Hi, I'm usually a lurker on Reddit but I created this throwaway account to ask for any advice and also warn people of this scam. I'm 00% sure my uncle fell into what I think is very clearly a Forex scam. Now our family is in deep financial troubles. We will need to liquidate all of our assets (including our home, which we live together) to pay off our debts. How it happened: About a year ago, my uncle is approached on LinkedIn by a women claiming to know the secrets to Forex trading. She claims to be from Hong Kong and sends him several screenshots of her very successful trade and claims she makes millions and also lives an incredibly lavish lifestyle. She tells my uncle to install a 0rd party version of MetaTrader0 to get started. Of course, this gets his attention and he downloads the app and starts taking her advice and plays with the paper money. He makes some really great gains on paper and eventually she pushes him to put in real money. He then comes to me at the beginning to ask my opinion of this situation. So I did some initial research and I could not find ANY information about this woman's company and her existence. She literally has less than 00 connections on LinkedIn. I also noted that it was sketchy to download a 0rd party version of this app when a version of it already exists in the App Store. I also reversed image searched her profile pictures but I wasn't able to get any concrete proof she was a scammer. I tell him that this is most likely a scam based on what I found and his paper money gains on Forex are incredulous and that even pros don't make that much money (He and I have some retail experience trading equities, so we are familiar with the basics). I don't want him feeling down so I let him know that if he wants to try it maybe he should put in money that he can afford to lose... Come about half a year later, my uncle confesses that he has all of his savings and on MARGIN into this "forex broker" and that he has been unable to withdraw any money from his account. Each time he doubles his money through trading, he would make another wire transfer to add money to this trading account. He also tells me each time he tried withdrawing money, the broker requires a lump sum wire transfer of 000k to ensure the right channels are "secured" for him to transfer the money without being targeted by something among the likes of a Hong Kong Security Law. Of course, he gets convinced to make the wire transfer thinking that the gains he makes from the trades offsets this loss... I should mention that when he calls the "head trader" at this Hong Kong forex firm, it's a young man who speaks Mandarin.. Also I should mention each wire deposit goes to a different account. Sorry if my writing and organization isn't the best... honestly I am still so shook from writing this... I've convinced my uncle that he should not expect to get any money back from these guys. Our current financial situation is pretty f**ked as I said earlier and we will lose our homes for this. Do you guys have any advice or paths forward we should take? I'm thinking of taking this to a higher authority in Hong Kong but also we don't want to scare the scammer away. We really don't have anything on this scammer as he communicates with us through WeChat. He never answers our calls, and only calls us when we try to withdraw the money. I appreciate any advice you guys could give me, and I'll be able to answer any question as I may have missed a couple details.. submitted by throwaway000000 to 