Moneda Capital Warning

Eyeful

Sorry to here about your problem.
This may help others having your experience, would you tell us:
1. How did you find out about them?
2. What checking up on the company you did, before handing over money.

PocketRocket2701

I am totally with you on this. I feel like a total idiot as did a fair bit of due diligence when I was first looking to invest and at the time there was nothing that evidenced any untoward activity.  Apparently another organisation  who is linked to Moneda called Strowz Ltd is also under FCA investigation.  I received only 2 small interest payments but called Moneda last week to query why 1 payment in June had not been made and then 2 Aug payments were overdue.  I have received no email from the company advising me of their recent status however.  I fear there are many of us in this situation and wonder if it worth setting up a support group

manateegolfer

You had to really dig deep to be suspicious. Rave reviews on Trustpilot were encouraging, the sales team were apparently professional. I was alerted by my bank that the transfer of funds to Zempler Bank may be unsound. Curtis Myton who was trying to ‘help’ with the transfer suggested I ticked a box saying I was  buying a new car! At that point I pulled out and furthered my research. It looked suspiciously like a Ponzi scheme. I wish you all the best in your search for repayment or compensation 

ColdIron

manateegolfer said:

You had to really dig deep to be suspicious. Rave reviews on Trustpilot were encouraging

Never ever use or trust TrustPilot for financial advice or research

clairec666

ColdIron said:

manateegolfer said:

You had to really dig deep to be suspicious. Rave reviews on Trustpilot were encouraging

Never ever use or trust TrustPilot for financial advice or research

Their Google reviews look suspiciously good too. Lots of 5 stars, all from a couple of years ago. One 1-star review in the last few days (quite possibly from someone in this thread...) I suspect Moneda are very good at getting any negative reviews removed.

masonic

The main issue was they had a plausible explanation for why they were not FCA regulated and why the money would be FSCS protected. Only if you contact one of the supposed "partner banks" would you find the information provided was not true.

I do think there is a failing of the system here. Aggregator services have muddied the waters, and in my view should all require strict FCA authorisation and Client Money permission.

LorrieLoads

 I had 3 12 month fixed rate deposits with these guys. I became concerned last February and managed to have them return €100k on the one investment that had a 35day withdrawal option. Unfortunately, the other two are full term and not due to mature until end of September and mid December. For what it’s worth, I have some tracking information that leads me to believe that one of the policies is with GB Bank UK. 

Like others, I was fooled in to believing that my investments were FSCS regulated at the point of investment.

masonic

LorrieLoads said:

For what it’s worth, I have some tracking information that leads me to believe that one of the policies is with GB Bank UK. 

Does GB Bank recognise this information?

PocketRocket2701

Please all of us affected report to Action Fraud as a Ponzi Scheme.  If you report as Ponzi Scheme, it will be taken very seriously.  The more if us who report it will help in police investgations

manateegolfer

I previously reported them. Unfortunately many investors have yet to realise their funds have disappeared. It needs to be headlined - Daily Mail maybe?