Kuvera Global’s Capital City Markets missing funds scam continues
Last year Kuvera Global was soliciting investment into the Ryze AI trading bot. The company’s broker of choice was Capital City Markets.
Almost a year on from the CFTC clamping down on Investview, Kuvera Global’s parent company, affiliate investors still have funds tied up in Capital City Markets.
Capital City Markets is a Vanuatu shell company run by persons unknown, but believed to be based out of Europe.
In December the CFTC added Capital City Markets to its RED List.
The RED List, launched in September 2015 (see CFTC Press Release 7224-15) identifies unregistered foreign entities that the CFTC has reason to believe are soliciting and accepting funds from U.S. residents at a retail level for, among other things, trading in binary options or foreign currency (forex) and are required to register with the CFTC but, are not registered.
Companies on the CFTC’s Red List are found to be illegally soliciting US residents in binary options and forex investment schemes.
Despite this Investview, a US company, thought it was a good idea to link itself to Capital City Markets.
Dating as far back as July 2018, reports emerged of Kuvera Global affiliate funds being trapped inside Capital City Markets.
An October 2018 email sent to a Kuvera Global affiliate blames locked funds on “banking issues”.
Apologies, we are still experiencing banking issues at this time.
Please do note that by no means are we looking to keep the funds and have every intention of returning them as soon as possible.
We are working extremely hard to resolve the issue.
Once again we thank you for your understanding and patience.
As of March 2019, invested Kuvera Global affiliate funds are still MIA.
We understand our clients frustration, however we still have no updates to give.
Our servers are still down and the release of funds was expected in February, but there have been further delays of which we have no current timeline for.
While we are communicating with clients when and if any updates are given, we cannot give any further information other than that.
Despite being the point of contact between its affiliates and Capital City Markets, for their part Kuvera Global aren’t interested.
Requests for support sent to Kuvera Global earlier this month elicited the following response;
We apologize, but Kuvera does not have an update regarding accounts with CCM.
Since your Ryze/broker account is with CCM and not with Kuvera, you would need to continue to contact Capital City Markets regarding your broker account with them.
That’s from an email dated early April 2019.
How many affiliates Kuvera Global and Capital City Markets have scammed is unknown. Ditto how much they’ve collectively lost.
What is clear is that both Kuvera Global and Capital City Markets are stalling.
Whether the CFTC takes further action against Investview and Kuvera Global remains to be seen.
In the meantime affiliate investors have no idea what happened to their money. They’re being fed claims about banking problems, which they have no means to verify.
Seeing as Kuvera Global got its affiliates into this mess, at the very least one would think they’d be covering affiliate losses.
Or not. Last we heard Kuvera Global is having financial problems of its own.
I know a gal who bought into Kuvera’s lies about getting paid eventually when ethereum crypto becomes profitable to mine again.
This company is ran by veterans in the industry who are the sneakiest and biggest phonies around.
Yes I got ripped off big time by them.
They lost funds… So did I. I was with Tallinex. Then, suddenly they notified me they were handing all their U.S and some European customers over to Capital City Markets.
Well, all was good for a little while then around January 1st of 2019. I could not connect to the Capital City Markets server.
I thought at first it was a technical problem. A couple days later still could not connect. I e-mailed the broker and they said they had a DDNS server attack.
Some weeks later I e-mailed again and they said their funds were frozen and this went on. I have now given up. They are a scam broker.
I only lost a few hundred dollars but I imagine others lost a lot more. Would love to know who these crooks are. I am now with an American company. Much safer.
I ALSO LOST A LOT MONEY WITH CAPITAL CITY MARKETS.
DOES ANYONE KNOW HOW DO YOU GO ABOUT TRYING TO GET BACK THE MONEY YOU LOST FROM CAPITAL CITY MARKETS?
I also have funds with capital city market and unable to trade ir withdraw my money.
I lost over 100k with my capital city markets how do we team up and get a Lawsuit going?
Probably a question for a lawyer.
Hi Woody: Im in the same boat! Have funds invested and don’t know how to get them returned. Being scammed does not feel good.
Would appreciate any info you have for possible recovery as Kuvera Global is not willing or able to help.
Anyone have luck with getting there money back from CCM??
I sent them another request after this and never got a response at all.
And this response was just BS. What kind of bank freezes everybody’s assets because 2 clients allege fraud.
They know they are thieves but I also know that what goes around comes around. Terry
I wonder why the article states this:
Because there are a lot of indications linking Capital City Markets to two serial MLM scammers from Utah, Kevin Jones and Matthew Poll.
The CFTC forced them to shut down their earlier scam forex broker Tallinex (so called because they were registered in and pretended to operate from Tallinn, Estonia.)
While I cannot find direct substantiation for the claim that Jones and Poll then simply set up CCM as a replacement (the website making that claim only sources it to “a former employee” of theirs), this time registered in Vanuatu but claiming to operate “from the European Union”, there are some things that can be established with certainty:
(a) CCM is created at the same time the CFTC starts the process of shutting down Tallinex, in mid 2017.
(b) There are numerous reports from people on various forums who had accounts with Tallinex, and were simply told that they would be transferred to CCM, funds supposedly intact.
What is also certain is that Capital City Markets shows a pattern of taking in funds but never paying anything out. This goes back right to the moment the company first appears, in 2017, and some of those clients involuntarily transferred from Tallinex try to withdraw some of their money.
A never-ending succession of banking problems, payment processor problems, server problems, DDoS attacks, and more recently problems with “prosecutors”, are blamed for this.
The non-specified prosecutor mentioned in comment #10 in some other emails is claimed to be from Poland. How a Polish prosecutor can freeze all bank accounts of a company registered in Vanuatu is a bit of a mystery.
The only connection between Europe and CCM I can find is a claim that their “operations will be sourced from the European Union”, in a rudimentary FAQ document they themselves put out, and a British phone number in that same document – something anyone can get without ever setting foot anywhere near Europe.
And why would any business based somewhere in the European Union not mention which country they’re in (or if fake, which country they’re pretending to be in)?
It’s not a single jurisdiction, it’s about as meaningful, and as confidence-inspiring, as saying that “operations will be sourced from the North-American continent”.
I believe that assertion was made based on Capital City Markets’ website, which is no longer available.
We’re going back 8 months now so I can’t say for sure, but there’s a reason I wrote that. And I wrote “believed” because we don’t know for sure.
Unless there’s a clear link between Tallinex and CCM, we only seem to have coincidences.
I invested in the coaching with DayTradeSmart or DayTradeOurmoney. They are located in Lehi Utah.
I deposited money in CCM since my coach was using the same Broker and my company held account was with CCM.
Back in July 2018 I tried to take money out. Still to this day I have not received a dime of my money out of my CCM account.
This company will not not return any of my calls or emails, meaning Day Trade Smart in Lehi. Anyone else in my situation?
I would love to find a way to get my money back. Not sure if DayTradeSmart has anything to do with CCM and the funds being frozen.
I too got started with DayTradeSmart in Lehi, Utah who recommended CCM as their broker of choice at the time. I lost 20k when CCM went belly up.
Interestingly, i found out that they were transferring all of their money out of CCM to a new broker without telling their clients, me. Haven’t seen any money in over a year.
Let me know when Tallinex/Capital City lawsuit is moving forward, please.
There is no lawsuit. And there’s unlikely to be one two years after the fact.
I lost with Ryze.ai i think the name was. They should be the ones we go after as the foreign company will be impossible.