Victim Number 1
Mrs X was approaching retirement living in Spain to take care of her mother who emigrated many years ago. Her mother had cancer and needed an operation and Mrs X was saving up to send her mother to a private hospital so she could get the operation she needed. Mrs X worked two jobs to pay for her living situation and save for her sick mothers health needs.
One day, a delightful, lovely Asian girl cold called her on WhatsApp, we will call her Ms Yi. The two of them got chatting and after a couple of weeks delightful conversation the talk soon shifted to trading crypto using Forex.
Mrs X told Ms Yi that she didn’t have any spare money because of the situation with her mother. This was the perfect opportunity for Ms Yi. Well trained in the dark arts of manipulation and social engineering, Ms Yi had patiently waited for this situations like this. Mrs X didn't know it yet, but by revealing her mothers situation Ms Yi now had the means to dangle the carrot. Over the next few days Ms Yi, schemed, and manipulated Mrs X by using the power of suggestion she motivated Mrs X as she used her mothers situation as the basis for Mrs X to earn the money she needed using Crypto, there is no greater exclamation mark of what these schemers are prepared to do to get someone to part with their cash. I was abhorrent as I heard this story.
Ms Yi, sent screenshot after screenshot of her various successful trades to entice Mrs X in further.
Using WhatsApp Ms Yi was very professional, using various screenshots Mrs X was shown careful instructions using arrows to help Mrs X easily navigate the play store. It was clear, Mrs Yi had done this many times due to her proficiency and the various screenshots that Mrs X felt were already prepared.
Mrs X “She was very thorough.” Mrs X explained to us when we interviewed her. “I was taken through to the play store to an app called Metatrader 4, of course I had never heard of it, but when I did my research I learned that Metatrader 4 was an official trading application that was widely used. So I felt at ease. I downloaded the application and was then taken to Ruitong/ RT Trader website to setup an account with the broker. Ms Yi told me that this is a fully licensed broker, and that a no broker can get an Metatrader 4 software license if they do not have a trading license, I thought that made sense, as the financial markets were heavily regulated, so again I felt at ease, it was only later things began to unravel.”
(RT Trader / Ruitong were an unregulated broker operating in East Asia, Hong Kong and Cambodia mostly, HLT received information that this broker was strong armed and taken over by Chinese Organised crime to launder money and fraud more people. HLT have reasons to believe that their chief operators Wen Ting, Le Zuo, Lin Lin and a number of others were arrested in the recent Interpol sting.)
After earning money on the virtual account, Mrs X transferred $1000 to her RT Trader account. This was in November 2021. By this time, any whiff that this broker would receive a HKSFC License had all but gone and they were completely rogue by this time.
After a number of successful Ethereum trades, Mrs X decided to up her investment, cheered on all the way by Ms Yi. Eventually Mrx X, had put in £15,000 of the money she needed for her mothers operation, but its ok, she had turned that into $33000 in a matter of weeks.
In December, Mrs X attempted her first and second withdrawals. Both were paid via wire transfer without any problem. Then, Wen Ting took over and talked Mrs X into using capital venture funds contract to earn even more money.
By the end of the custodial account contract the problems began. Wen Ting insisted on 30% commission to be paid immediately, when this was paid she could use her account normally. Mrs X had placed all her funds into the trading account and didn’t have any more funds left. "Went Ting was completely unreasonable, threatened me with the Mafia to pay her commission. I asked her for my principal funds to be returned and she refused, didn't care that the money was for my mother." RT Trader eventually reset her account to $0.
This is the situation Mrs X found herself. To this date she hasn’t been able to retrieve her funds. HLT are supporting her and advising her on her options and what she should do next, but, she has no money to hire a lawyer, its an impossible situation, this broker had stolen her funds and used MT4 to do it.
I asked Mrs X the following question.
“You mentioned earlier that you checked out MT4 and that the brokers agent advised you that because the broker has a regulative license there were able to get a software license?”
Mrs X : “Yes, that is correct.”
HLT: “If the brokers agent had not shown you the trading platform first, and if they did not advise you that they need a regulative license to procure the MT4 software license, would you have transferred funds to the website.”
Mrs X looked down at the floor when I asked her this, it isn’t always easy to gage a persons body language from the video call. After a brief moment Mrs X looked up at me and lent forward as if to assert herself.
Mrs X: “ Put it this way, if they had shown me the website first instead of MT4, I wouldn’t have put any funds into this website at all. But after being shown the trading platform, I was sure everything was legit.”
Mrs X started crying, the whole ordeal has taken its toll on her.
May 26th 2022
I was just eating dinner when I received a phone call. I interrupted my dinner because it was Mrs X, when I saw her name on my smart phone as the callerId, I immediately had a bad feeling in my stomach.
A heart broken Mrs X informed me her mother had died. We will never know if the money she had saved up would have helped her. With the aid of MT4, RT Trader / Ruitong had stolen the opportunity of finding out if she could have given her mother just a few more months to live, precious moments have been stolen from her.
It was at this moment I decided that something has to be done, and I made her cause mine. The next day I wrote my first serious article speaking out about MetaQuotes and MT4. Like the floodgates opening, I received an incredible amount of support. People started coming forward in the droves to tell me their story, all equally harrowing in the own way and all having the same hallmarks. Asian women cold calling victims on social media. Promises of a quick return. We will look at another case study next week.
But this is Metaquotes for you, this is just one persons harrowing story, I have received a lot more and I mean to post every story that I receive because we have to expose Metaquotes as the public menace they are.