Investment Scam On Social Media

Investment Scam On Social Media

Network or multi-level marketing is more familiar from nutritional supplements. But for some years now, high-risk currency speculation has also been advertised on the stock exchange - so-called forex trading. You don't need any prior knowledge: "Everyone, absolutely everyone can do it," it says in the glossy videos, in which people boast. But insiders who spoke to boerse.ARD.de and Plusminus report: "No, that is not possible. It is doomed to fail." Because behind it is a network of US companies with an eventful past. The business model of these companies works like this: Buy financial software for $ 190 a month and sell it to friends and acquaintances. The software is to speculate fully automatically with the customers' money on the stock exchange. Two to five percent returns are possible per week, explains a member of the True Peak Army, or TPA for short, in a video call. TPA is a group of sales partners who sell opaque financial products in Germany for the American company Auvoria Prime.

"Total humbug"

Andreas Hackethal, professor at Frankfurt's Goethe University, considers such profit expectations to be ruled out: "Two to five percent per week and that with a fair degree of certainty - that is complete nonsense." Because with compound interest you would get extrapolated to more than a fabulous 1,100 percent profit per year. And if there were such a thing, then one would hardly give such a "treasure map" out of hand, says the financial scientist. That reality looks different from the advertising promise is confirmed to boerse.ARD.de by an insider who wants to remain anonymous. For years he sold financial software like this for the True Peak Army and its predecessor organization: "You've also had people who briefly lost 10,000, 20,000, 30,000. It gets bad when you know: Okay, that's a family man who has three children or has plundered the children's savings accounts. "

The pyramid moves on

In this system, only those who are at the top of the pyramid earn. And companies like Auvoria Prime. The company has only officially existed since the beginning of the year. According to information from boerse.ARD.de, the entire management team previously worked for a company called Eaconomy, which was advertised by the True Peak Army until March this year. Some of the backers were already active at companies such as Silverstar Live or iMarketsLive. They were all either massively criticized because customers had lost their money, or the American regulatory authorities took action and companies were closed. An insider explains how to proceed in such cases: "Then one company is shut down and a new one is simply founded. With the same people, the same product, the same sales structure - only the name is then new."