Investqhub

timborules

Hi All,

TL:DR - looks like a scam, smells like a scam - but how is it making money for some? 

A family member of mine has been pressured by other family members to make a large (£30k) investment into Investqhub. They cannot afford this and took out a loan “not to miss the opportunity of a lifetime” (yes I know this is debt fraud). They shared this with me and all my alarm bells went off - a quick google tells you almost everything you need to know. I’m Captain Sensible on investments and do everything via my IFA, S&S ISAs etc so crypto and this is way out of my comfort zone. 

But - what I can’t figure out is that for some, they appear to be “making money”. The company - based in St Vincent and the Grenadines - promised a 7.6% A MONTH return. My family member says some of his friends have “made serious money” - but how? 

There is another thread on MSE that is helpful in ascertaining that is a scam - but if someone has invested £100k and is getting dribs and drabs back, how is this company doing it? 

Thanks in advance.  

gravel_2

Ask anyone who has made money whether they can withdraw that money in full.

https://www.fca.org.uk/news/warnings/investqhub-investqhubcom-investqhubco

The Trust Pilot is universally either 1) negative reviews about it being a scam or 2) fake positive reviews from people who are "not good at mathematics" or "bad with the computer" - clearly indicating the target market for the scam.

Also note the web domain was only registered in March this year - what kind of track record can such a young website have?

EDIT: as they have already invested and the money is gone, please be doubly careful as this scam has been targeted by other scammers claiming to be able to help recover funds from the site. Fool me once...

masonic

It is very easy to display ever increasing balances on a screen. People believe what they are seeing is their money growing. Sometimes the scammers will let them withdraw some of their money to build trust, but they know this is just bait to secure a bigger investment. Until one day the victim cannot log in or contact anyone connected with the site.

gelato_cat

I've never seen one of these but maybe one of two things: 

1) The scammer is telling the scammee that "your investment has grown" and shows them graphs but the scammee hasn't tried to get any money out yet. When they do, the scammer will ghost them. 

2) The scammer is sending the scammee a few hundred pounds a month which is a drop in the ocean compared to the amount the scammee sent them.

timborules

Really appreciate the responses, thank you. Sadly - this all seems to make sense and is true. 

Tips for somehow getting the best possible outcome and getting back as much as possible? Family member has put in £30k, family member of theirs has put in £150k, mixture of life savings and a large loan. 

masonic

The money is gone. The best you can hope for is to stop them throwing away any more money, including to the scammers who will come along later to offer to recover the money for a fee (to be paid in advance).

What is most difficult about the situation is that those trying to break the spell of the scammers are often subjected to denials and hostility before the victims finally come to terms with the situation and realise they really have lost their money. Approach it with caution and be prepared for a lot of resistance to what you are trying to tell them.

eskbanker

timborules said:

But - what I can’t figure out is that for some, they appear to be “making money”. The company - based in St Vincent and the Grenadines - promised a 7.6% A MONTH return. My family member says some of his friends have “made serious money” - but how? 

There is another thread on MSE that is helpful in ascertaining that is a scam - but if someone has invested £100k and is getting dribs and drabs back, how is this company doing it?

https://en.wikipedia.org/wiki/Ponzi_scheme

timborules

Thanks again all. Spot on with the comments and it’s incredible how the denials and hostility is also true. It’s so sad. 

My hope is that my family member who made the smaller investment is able to get that back as they’ll want to keep the bigger investors, which I assume is the bigger prize for them. Apparently, they’ve agreed to a call on Monday to sort out a full refund… 

gravel_2

Please keep us updated but unfortunately your relative is likely in for a mix of false reassurance, gaslighting and abuse.

wmb194

timborules said:

Thanks again all. Spot on with the comments and it’s incredible how the denials and hostility is also true. It’s so sad. 

My hope is that my family member who made the smaller investment is able to get that back as they’ll want to keep the bigger investors, which I assume is the bigger prize for them. Apparently, they’ve agreed to a call on Monday to sort out a full refund… 

Another thing to watch out for is that they might try to turn it into an advance fee fraud, for instance asking for another $1k to cover ‘fees’ to return $30k.

timborules

That’s a good shout, thank you. What to do in that scenario? Given that they have given some money back to others (validated) that seems a tough call.