Torque Trading collapses, pulls “bad trades” exit-scam
The Torque Trading Ponzi scheme has collapsed.
Daily returns have been disabled, with Bernard Ong blaming the collapse on an employee.
In an email sent out to Torque Trading investors, Ong (right) claims that yesterday the company
discovered significant trading losses against Torque’s open positions iwth crypto exchanges.
It appears that one of our employees has placed heavily leveraged trades, in violation of our internal rules.
Why would an employee with no skin the game do this?
Torque Trading was a Ponzi scheme since launch. Trading or otherwise, returns have always been paid with new investment.
A visit to Torque Trading’s website reveals website traffic fell off a cliff in late January.
For an MLM Ponzi scheme, this brings forward the inevitable collapse. Bing-badda-boom, here we are.
In line with suspension of all trading activity pending this investigation, we have suspended all wallet functionality (deposits, rewards, withdrawals, reallocation) until further notice.
With withdrawals disabled, Torque Trading will now enter the “stall while we make off with your money” phase of the exit-scam.
We are doing everything we can to conclude the investigations in the coming days.
When your wallet functionality is restored, you can expect a significant decrease in your Torque wallet balance to reflect the trading losses.
At this point, you will have two options:
- Withdraw your remaining balance and close your Torque account; or
- Maintain your balance and we will resume trading upon this balance. If you choose this option there is no action required on your part.
Ponzi schemes like Torque Trading are a zero-sum equation. What’s withdrawn is stolen, and at any given time the majority of investors are at a loss.
If Torque Trading does re-enable access to the backoffice, as above the monopoly money balances will be reduced.
This has nothing to do with trading, it’s just redistribution of whatever’s left of invested funds to pay out.
What’s left after Ong, other Torque Trading admins and top promoters have withdrawn before rank and file affiliate investors.
Sorry for your loss.
Update 11th February 2021 – Bernard Ong has told Torque Trading affiliates to expect a 90% cut to their backoffice balance.
Update 19th February 2021 – Bernard Ong is blaming Torque Trading’s bad trades on CFO Zee Wu, who is conveniently missing.
Another Cryptocanalyzer success
Mo Kumarsi had so much investors and crypto inside this website.
Oh no poor him and poor team! They all lose now :/
Bad trades lol, sure hope he is enjoying those expensive cars and watches he just bought.
FYI disappointed investors and law enforcement, it looks like Torque Trading pretty much equals SNAP Innovations.
Here is a comparison of the Torque Trading management team (source: web.archive.org/web/20210211121507/https://torquesuperwallet.asia/2020/09/18/torque-1-year-speeches-from-the-management/) with that of SNAP Innovations Pte Ltd:
I didn’t find match for Jason Kan (COO, Torque) and Ryan Tay (CRO, Torque), but they could some of the other listed persons on SNAP entity teams.
Well at least he has not skipped town. People invested in Torque that are in Singapore have been visiting him at the office…
TORQUE not a ponzi. The system is very Transparent. They have more contract with largest crypto exchange Binance.
It was a hugh mistake from CEO Bernard Ong to give free hands to Zee Wu, but the system is clearly correct and transparent.
It based on arbitrage and scalping. The author of the article claims untruth as in many case. Please STOP Lying!
So transparent you have no idea who stole your money.
If you wish to make claims about what Torque Trading has or doesn’t have, feel free to provide audited financial reports for verification.
There aren’t any, because Torque Trading is and always has been a Ponzi scheme.
The money was not stolen but lost on the stock market. the path of the crypto can be controlled quite easily on the block chain.
You can look at Binance and the other stock exchange contracts, the detailed statement of trading, quite calmly. TORQUE has never been a ponzi and never will be.
(Ozedit: derails removed)
Lulz. First Ponzi?
Feel free to provide audited financial reports as evidence of your claims. These are of course legally required and should be readily available.
Sorry for your loss.
(Ozedit: derails removed)
All documents will be available on behalf of the company in connection with the case, of course the competent persons and authorities can get an insight into all the documents.
(Ozedit: more derails removed)
Audited financial reports are legally required to be filed periodically from launch. Torque Trading launched 4Q 2020.
So, where are they? At the very least you should be able to provide evidence of Torque Trading having registered with MAS?
Feel free to provide the financial reports, I’ll be marking anything else from you as spam.
(Ozedit: No audited financial reports here, spam.)
Thank you for confirming Torque Trading is a Ponzi scheme. Have a nice day.
Then ask him to sell his car to return my money.
Anyway as per my lawyer’s advice and Police report was lodged. According to them, I’m not the first person. Confirmed that Torque (Bernard Ong) and Snap innovation (Dr Ting) are unlicensed financial companies and not regulated. Since they are both singaporean running the companies from Singapore, they have to be licensed by MAS. Unauthorised trading from unlicensed companies equals to FRAUD. Police encouraged victims to make report reports with contracts and proof of deposits.
Please pursue this. The management have been lining their own pockets (just check their instagram, Bernard is not the only one purchasing expensive items), at the expense of investors.
With a 90% loss, every single investor would have lost money, no matter when you invested.
It’s very convenient to just tell a story of losing the money to markets, but is that really the truth?
I dare them to open their books to the authorities and police, instead of conducting the checks themselves.
No matter, I hope every victim will go after them, till the end of time. Don’t let these crooks get away scot-free with your hard-earned money.
I live in Singapore and went to visit “Dr Ting”, the only shareholder and director of Snap Innovations, at his registered address in Tampines.
Turns out neither him or his whore wife ever lived there. They were only using a dummy address of a junior snap employee called Will.
Dr Ting is probably the mastermind behind the scam and he has fled Singapore last year.
No matter how much faith people have to the Singapore legal system, it is the most useless, slow, and insanely expensive legal system on the planet.
Surprisingly, all the bullshit these cunts are selling will drag a legal case in courts for years and cost millions on dollars in vulture legal fees. And then maybe get a fine and 4-5 years in jail. Not bad for a $1billion scam.
And you should all remember that in the Torque Terms And Conditions, these cunts state “our services are not available to citizens of Singapore and The United States”, so they can use it as a loophole to not be prosecuted in these countries.
You will all be shocked how forgiving the Singapore legal system is to such an elaborate scam.
Still, every single person should file a police report regardless. There is still hope for some justice.
Whole Torque thing is a scam actually. My advice is pursue the matter, report to media reporters. They will investigate. Time will tell the truth.
Some “loyal” investors will still giving excuses to themselves that their Torque is legit, like followers of Trump or “Believers” of Kong Hee.
Investigate on the CEO and not let him suck the money and buy expensive stuff on the expense of the investors. He have to repay all investors.
Everything was planned. We are just another ponzi victims..
Right before the exit, he bought mclaren… all those luxury stuff..
Acra.gov.sg… check out the company called “Supernova technologies”… It was registered June 2020(LAST YEAR) under “Bernard Ong” as a Director and a Shareholder. He was surely planned all these to exit this scam and create another one!!!
What should we do?
Great so you jumped the gun and did not even give Torque a chance to provide evidence. Now the funds could be frozen and every investor screwed out of 90%.
In fact I think you are the scammer. You are probably glad investors now wont get their money back.
There is a lot of false info on this threat. First off MAS does not govern crypto so you are an idiot if you are saying otherwise. I got a response from them.
Torque Trading is required by law to register with financial regulators and provide audited financial reports.
They haven’t “provided evidence” despite launching mid last year. Social media marketing videos aren’t evidence of anything, nor are exit-scam corporate updates.
The only evidence you have is Torque Trading stopped paying out. And the only reason a Ponzi scheme stops paying out is kaboom.
MAS regulates securities.
MLM + passive investment = securities offering.
What are the chances real believers of this obvious scam scour the internet for reviews and news articles covering Torque and actively argue on their comment threads to defend the scam? Close to zero. But somehow this is happening.
We all know who these fake commenters are. Just look at the TrustPilot page. It’s hilarious that there are so many 5-star reviews.
Most people are born with basic decency and a conscience. Clearly Bernard Ong is an exception.
It fascinates me that he can sleep well at night having done what he did, let alone drive around a car, wearing a watch bought with stolen money.
It appears that he intends to perpetuate the Torque scam, failing which he will move on to the next.
I hope the authorities bring him to justice so no more people get cheated.
Whether you believe in a higher power or not, Bernard Ong has failed himself, his parents and his children. This is the truth that he will never escape from.
Never underestimate the power of Stockholm syndrome when it comes to Ponzi victims.
Every Ponzi admin/owner, promoter and pimp/major promoters are sociopaths, narcissists and pathological liars.
They truly believe what they are saying is the truth and therefore think they have done nothing wrong.
I feel you, I’m saying all those because I want my $$$ back. Full 100% + profit as claimed (or lied).
Please don’t mistaken. I want third party accountability. I do not want Torque to investigate torque to give torque version of the story and CEO is bathing in my cash. Why do torque get to decide who gets what?
Please don’t provide me evidences to me. Provide them to the third party auditors//investigators/lawyers.
You are by saying that the trading account might be frozen, then in that case, all key officer in torque must have their assets frozen too.
Because I will not trust ever a CEO that drives a supercar. If he buys that when I invested, I am out.
I’m positive that if all their accounts are frozen today, we are definitely looking at more than the shitty 10% left.
Yeah you’re in for a rude shock. Welcome to the Ponzi end-game.
So you clearly know more about MAS then the letter I received from them? They stated they do not involve themselves in crypto… perhaps they are wrong and you can aid them in your expertise.
Thank you and fair point. I have his home address now so if they screw us I am going there when COVID restrictions are off and vandalizing that nice car of his + maby break a few windows.
Low Ting Hui is the brains behind Bernard Ong… Watch this guy.
Perhaps you can learn how to read?
The issue here is securities fraud, which falls under MAS’ jurisdiction. How the securities fraud was committed is neither here nor there.
If you emailed MAS crying about crypto you got the answer you got.
Indeed. MAS should see it as securities fraud/illegal collective investment scheme/unlicensed asset management. Just ideas.
Taken from Torque Telegram, seems like plenty of customers are visiting their offices and hopefully houses soon.
Andrew Sim is the brain behind actually, nah I’m joking. He’s the most useless of the bunch but driving a sports car too.
Governor indeed. But seriously what is a Governor? Retarded.
Sounds like Torque Trading is running off to the authorities more than their victims are.
“We scammed a bunch of people and now they’re pissed. HELP US!”
The only related company to Torque is Snap Innovations, half of whose management ran Torque.
I’m assuming Torque Trading has gone MIA so people are rocking up to Snap Innovations demanding answers?
Taken from Torque Telegram. Don’t they realize they have lost The support of Snap and their CTO. Where are they going to get a bot again.
And they clearly say using external funds to reimburse..? Screaming PONZI.
I believe in Torque! They have a zoom call this evening and are going to tell us how they make things right.
They have already started trading again and are working on building back our funds. We just need the government to pressure them to keep on it and pay us back our investment!!!
Can the CFO, Low Ting hui, explain why the Torque system suffered losses from Day 1 til now and still managed to be paying daily rewards?
I am no Troll. I invested 40 thousand dollars. They are working on getting additional funds to trade. Bernard is putting his cars up for sale.
Lawyers have been to their office. Other investors have been to their office. They are working on getting more money to help recoup the losses.
It may take time but it needs to happen. We still need to make sure there is pressure on them through regulatory channels if possible.
You are the troll… probably want us to lose all our money. You probably enjoy people ending up on the street because they have no income right now.
I bet you get your kicks watching people not be able to feed their families during COVID….
Bernard also owns a retail shoe store in Singapore in a mall and sells products online. He has many businesses.
Ok I will take your advice. Thanks
I don’t get any joy out of anyone being screwed over, believe me. Torque can’t trade itself out of a hole.
The way scams work is that new money pays older claims until there are more claims than new money. Please remember that when you are asked to through in more cash.
And? Bernard ran Torque Trading, a Ponzi scheme. Since launching Torque Trading he seems to have made significant upgrades to his lifestyle.
What Ong was doing outside of Torque Trading, other than Snap Innovations, is irrelevant.
If you want to throw the “I can’t feed my kids!” bullshit out, you’d best direct it at Ong and the rest of the Torque Trading scammers.
Your money is tied up in their assets and whatever else they spent it on.
They are a Binance VIP9 Member. That requires moving 150,000 BTC per month in trades which is over 7 billion USD. That is some serious trading.
How do you expect they could accomplish that if they were taking the money and running off to pay for their lifestyle and using new investor funds to pay out earlier investors????
And? Being a Binance member is
1. not proof of external revenue being used to pay affiliates.
2. not a substitute for registering with financial regulators and providing periodic audited financial reports.
Because gullible morons like you gave them your money.
It’s worth noting that Cloud Token also adopted the “BUT WE HAVE BINANCE ACCOUNTS!” legitimacy angle.
Cloud Token is linked to Torque Trading through Snap Innovations.
Here’s how Cloud Token wound up – https://behindmlm.com/companies/cloud-token/ronald-aai-reveals-cloud-token-no-withdrawals-exit-scam/
Sorry for your loss.
But cloud token did not have VIP9. They did not even have any premium access.
Moving over 7bills a month of crypto is not exactly easy, even with $100 million from investors. That would require a daily churn of 70X of the funds invested.
That is a lot of trading. Not a kiddie operation to move that volume.
So you lost money in Cloud Token too huh?
I also distinctly recall Ronald Aai bullshitting on about his Binance VIP trading accounts on Twitter. None of it mattered, because Cloud Token was a Ponzi scheme.
Anyway this is a strawman. I don’t care if Torque Trading claims it had a VIP69420 account; you cannot represent Torque Trading did any trading, or more importantly used external funds to pay investors, unless you can provide audited financial reports.
Feel free to provide audited financial reports, which any legitimate trading company not running as a Ponzi scheme would be able to provide you (and is required to by law).
I’ll be removing any further unsubstantiated claims from you regarding what Torque was or wasn’t doing as spam.
No I barely know what Cloud token is. I never invested in that and never will. Just like I will never invest in Torque again. There is a Zoom call tonight.
I do agree they need to provide additional evidence and not just take their word.
Have a good night.
PS Spam tastes good in Sandwiches with Mayo and celery. Why do they call it spam on the internet? Is that short for something? Never asked that question before.
So you made a baseless claim that the company never represented it had Binance trading accounts?
That baseless claim was one of your old posts…. so I guess so…..
I put forward that Cloud Token, who is connected to Torque through Snap Innovations, also claimed to have Binance VIP9 accounts. Because they did.
There’s nothing baseless about my claim, I covered Cloud Token since early 2019. The only reason I can’t provide you evidence of Ronald Aai making the VIP9 trading account claims himself is because he deleted his social media when he did a runner.
In response to this you categorically stated “cloud token did not have VIP9.” But when pushed you then admitted you “barely know what Cloud Token is”.
You’re full of shit son. Let’s move on.
I got a question that is puzzling me.
What if the members have store their crypto in the cold wallet before it collapse. Will they still lose their assest?
What does that have to do with Torque Trading?
Ronald Aai did indeed make the Binance VIP trading claim with Cloud Token. Here is a video from August 2019 in which he says (and allegedly shows) they had VIP7 status on Binance: youtu.be/XZq_Bpnz1C0?t=353
Didn’t find the record, but I also have a vague recollection that he claimed they reached VIP9 status at some point.
I guess it’s not impossible that they moved large amounts of crypto within the short (about 3 month’s time) that the scam was de facto operational.
Aai is on record saying Cloud Token is a continuation of PlusToken, with Plus Token investor funds involved (–>https://behindmlm.com/companies/cloud-token/ronald-aai-reveals-cloud-token-no-withdrawals-exit-scam/#comment-418392).
PlusToken managed to defraud insane amounts of cypto: at least 200 000 BTC and 789,000 ETH (bitcoinmagazine.com/articles/how-the-plustoken-scam-absconded-with-over-1-percent-of-the-bitcoin-supply).
If Cloud Token had (and laundered) even portion of that stash combined with their own success, they might have really reached high Binance VIP status.
They way this relates to Torque Trading is that Ronald Aai — even as he was pimping Cloud Token — is also on record admitting that Cloud Token and Torque are basically the same thing:
If Torque / SNAP Innovations really does/did have high Binance VIP status, it’s most likely because SNAP is controlling large treasure of PlusToken and CloudToken (+other WBF-SNAP “projects” such as EXXA and S-block) victim funds as well criminal proceeds of its own defrauding.
(High Binance status doesen’t tell anything about the profitability of the trades. But even the crazy bull crypto market that has been in recent months is not enough to cover the impossible Ponzi ROIs — and the Torque collapsed in the middle of that record bull market.)
Wouldn’t be surprising “The Missing Crypto-Jabba” is found somewhere in the cellar of SNAP Innovations premises. (Perhaps now in tank dissolving in acid 😉 )
Summary of Bernard’s stupid Zoom meeting he had. He has stolen everyone’s money:
Bernard Ong and his Dog Ting Hui can be found here..
Yes I saw that meeting. Still a lot of unknowns.
They are saying they are going top ay 50% back of our money over 2 years? I think they could do it quicker than that because they are only paying in USTD so I would expect you to get it quicker.
That being said I am not happy they are paying the USTD amount. I would prefer the crypto because its going to go up.
I also had flare tokens and wonder about that. I asked if they traded those away and they did not reply yet.
I belive Bernard can get us 50% in less than 2 years. I think he was saying that just not to overpromise.
That being said I dunno if I want to leave my remaining balance in there…. My GF said I might as well since it will probably only be 3K.
She suggested I Invest more to speed it up but I dont trust them. What if they lose it again?
Have to see….
That is his new office?
This is my first and also last comment (don’t wanna waste too much time with dummies) but I need to get it out there because the stupidity of you guys (the investors) are mind-boggling and shocking. I hope more people get to read this.
I’ve no skin in the game, didn’t even know about this “trading system”, until a friend who invested a few thousands in it told me about it two days ago.
Firstly, f**k whatever they said. This is MLM + Ponzi. Quit lying to yourself. PULL OUT whatever funds you can. ASAP. And if you can’t (and you most likely can’t), DO NOT RE-INVEST any money back.
Fool you once, shame on them. Fool you twice, shame on YOU.
It’s like a game of musical chairs. Everything’s good when the music flows, but when it stops, the ones holding the chair are f**ked.
And guess what? You investors are the ones holding the chairs. The ones running the musical chair game have sat long ago!
You guys invested initially because you succumbed to GREED. Then, you invested too much $$$ in it, and you got EMOTIONALLY & FINANCIALLY ATTACHED. You sink deeper and deeper and refuses to let go.
Guys who are behind schemes like these know the human psychology well and uses it to control you retards like puppets.
My friend sent me some chat screenshots of some of these investors, who STILL WANT TO RE-INVEST more money back to help them “recover”!!! WHAT THE ACTUAL F.U.C.K.
Look: the whole Binance VIP9 shit don’t mean a thing. It can be manipulated if, like the other poster said, they’ve lots of accumulated coins from other previous schemes.
You know how those e-commerce and investment gurus often get “featured” on HuffPost and other publications? Same logic.
If these “trading systems” are so good and legitimate, it would have GONE VIRAL in the US and globally, with the mainstream media and governments raving about it. S
o why didn’t it? Why isn’t this particular “trading system” registered in the US? I understand the founders are from Singapore, so why British Virgin Island of all places?
I watched some parts of the latest Zoom video they did. Guess what? Guy needs to brush up his acting skills. Tries too hard to squeeze out tears.
I am not sure if I am the only one who caught this but I just want to put it out to everyone to judge and analyse.
If my ears did not fail me, Bernard Ong mentioned about Torque filing for insolvency if exiting client > clients opting to stay with Torque.
1. this resembles a hostage situation. If you exit Torque and opt for withdrawal, Torque files for insolvency. In other words, you accept your trading losses and absolve Torque from their liability to repay you what they supposedly owe you.
2. they are imploring unsuspecting clients to continue to stay with them or top up their account to “trade”. Looks like a last ditch effort to buy time for their operation and pull more funds in to extend their Ponzi venture. A typical stunt Ponzi schemes pull as they are readying for an exit.
Bernard Ong also revealed the place of incorporation and operations for Torque, British Virgin Island and Vietnam respectively. What is he trying to imply? That in Singapore, Torque has no accountability?
If Torque is a legit winning trading system as claimed, if Torque is not a Ponzi scheme as we suspect it is, then Bernard Ong should reveal the Trading History of the trading accounts.
Trading History should be what everyone should be hunting for right now. Open your eyes my dear Torque Community, the time for lamenting is over.
Accept that we have all been had by this 1 big scam and start recovering whatever we can recover from Torque.
I see other comments mentioning about SUPERNOVA and it does seems like Bernard Ong is about to pull the same trick and cheat more money.
Fool me once, shame on you. Fool me twice, shame on me.
His greed has no boundaries and it is up to stop him.
Trading history isn’t evidence of external revenue being used to pay investors. To prove that you need audited financial reports.
That said it’s safe to assume if there are no trading reports then there are no audited financial reports either.
MLM + securities fraud = Ponzi scheme
Torque is not a Ponzi. I refuse to believe.
My group leader is in Singapore. He said he has seen Bernard put his fancy cars up for sale to get more cash. He is trying really hard to get more cash to pay back investors.
That is obviously what he should be doing because his company messed up big time.
This is so sad. Some people were relying on that money for income. I saw a post of a guy’s wife who had cancer and they needed the funds for treatment.
This is a disaster… I am so furious.
I agree financial statements need to be shared along with trades.
These are all lies. Toque can make it through this. They will be able to do it but it takes time and faith.
Bernard is a smart businessman and can succeed where others fail. He will get our money back but it may take 2-3 years.
I have nothing left to lose leaving my 10% in Torque so they can rebuild for the future.
The bad news for you is it doesn’t matter what you believe. You got scammed in a Ponzi scheme.
Actually all it takes is recruitment of new gullible morons. You and I know that’s not going to happen.
When you’re ready to accept your loss we’ll still be here. Torque Trading won’t be.
Thanks for the comments Oz its appreciated.
I take it you have a lot of knowledge on this? I see you have been on this site for a long time.
Coming up on eleven years.
Neat. Well it’s really sunk in for me now. I appreciate the honesty. 5 stages of grief I guess.
Denial is number 1. Now anger and blaming myself for being so stupid and gullible.
I made some suggestions on telegram with people in Singapore to at least get a legal consultation. Many agreed & we have a group going however many others started giving me death threats in private messages.
What a day…..
@Jeremy don’t be too hard on yourself if you’ve learnt a lesson. Save the scorn for those who come out of Torque and onboard onto the next scam.
As for death threats, money makes people stupid. You’ve firsthand knowledge of that.
Hahah all you guys that put money into that stupid scam. I don’t feel bad at all for you. Bunch of gullible goofs.
I am glad you lost money. Hopefully you learned a valuable lesson. I am sure some of you will just jump to the next platform and scam.
You deserve your money to be stolen. It’s in a better hand now.
Have a nice day.
Can someone share the telegram group for the group legal action?
Waiting for anything back from Bernard and his scammers is plain insanity.
We also need to share all the information on the employees and ponzi pimps which were promoting this. Some of them made more money by getting out earlier.
– Andrew Sim (governor? major scum, linkedin.com/in/andrew-sim-651b59192/)
– James Teo (“Chief Strategy officer”, linkedin.com/in/james-teo-5bb27581/)
– Ting Hui (“Chief Financial Officer”)
– Jason Kan (COO linkedin.com/in/jason-kan-9b47aa119/)
– Seker S (Legal, Cant find on Linkedin)
These guys are already disappearing from Linkedin and ACRA.
I can’t veto recovery efforts so to avoid victim recovery scams I don’t permit sharing of details on BehindMLM.
Sorry Dennis I guess I can’t share any details on this site. Not sure how you can track my group down.
If you join some Torque telegram groups you can probably see our group reaching out to those interested.
Just so everyone knows they are providing an update this week on the repayment plan. I don’t have a ton of faith. I think it is smart to seek legal advise at this point.
You are quite rude. People got suckered. No need to rub salt in there wounds. If you did not get burned good for you but don’t go making fun of people.
I already heard there was 1 suicide over this. You don’t need to make people feel worse than they already do. Actions have consequences.
Action: Donate to obvious Ponzi scheme
Consequence: Donation vanishes
True but I think Jorg means that some people feel bad enough already, no sense making them feel worse.
They already launched Torque 2.0 (snapbots). They started taking deposits yesterday. Big surprise, Bernard is on the management team.
Just so everyone knows we are working on a Snapbot Youtube video that should be done by tomorrow. Please share it so we can prevent others from getting swindled.
Im aware, but years of seeing believers swoop in and decry negativity, then cry when their donations get stolen have made me jaded and less sympathetic.
Well my approach is to bring awareness so people new to the crypto space don’t fall for the same mistakes as others….
Ughhh this is crazy. Wish I never put money into this stupid thing.
My buddy was making a huge profit and I joined under him. He convinced me to put in my paychecque in that had a 10K bonus. I said I can’t afford it but he pressured me for months.
Me and the wife were even invited to a “Torque” party that had 30 people there. I should have never listened.
They pressured me at the party to set everything up… I put it in 2 days before the collapse! I got nothing….
Now I am calling him and he wont return my calls. Glad I came across this website to learn more. So mad.
The wife is pissed. He lead me to believe I would get 10-15 bucks a today. Didn’t even get one dam day of profit.
Supposedly it takes a day or 2 for them to invest the funds into the trade wallet and trade. I sent them an email but they confirmed I was part of the loss. I don’t believe them. I think they stole my money.
I dont know what to do now….My “friend” blocked me on all social media and my phone number.
I went over there but he never answered the door. So mad I snapped his small trees out front. ARRRG.
Bernard,james,tinghui and all those gangs are a group of con artists that jump from companies to companies and performs their scams from one company to another.
Their starting was from this.. called pixeltrade..
Pixeltrade-> Torque-> Supernova (new planned scam, full ownership by bernard and tinghui)..
Funny that they can still continue this scam activities in Singapore…
I did a google search and I can indeed find PixelTrade Technologies Pte. Ltd. on MAS Investor Alert List, the instagram page you showed also have some of the faces of the “Governors” of Torque!
can you share the video you made ? because as far as I have researched, the bernard and his crew doesn’t seem to be involved in snapbots.
I saw Snapbots on Ong’s LinkedIn profile.
What I find fascinating is that with all the history and info uncovered on this discussion thread and many others, this has not been covered at all by local Singaporean news.
If you do a search for Torque Superwallet on Google news, you get zero results. (Which is itself a giant red flag of course.)
Can all the victims above reach out to the Straits Times, ZaoBao, Stomp, whatever, so this group of seasoned scammers can be exposed and have their faces plastered all over the local media?
Sorry I have no skin in the game, so it’s really hard to justify the hours required to round up all the relevant material.
Surely those of you who’ve been scammed want to see justice served. A suicide case is news enough.
Will do. Its not me making it but I will share it when completed. Should be done in a day or so. The guy making it wants to do a bit more research.
Yes and when they did the Snapbots launch a while back Bernard was listed on the management team. They are trying to reduce his exposure now.
This was just shared, still believe in Toque now?
BVI = scam jurisdiction. You can’t liquidate a collapsed Ponzi scheme.
Besides, what’s there to liquidate in BVI anyway? The shell company filings?
Scammers in Singapore have Torque Trading investor’s money. Follow the Snap Innovations paper-trail.
The good news is the Singapore police have received many complaints now and are going to start to investigate.
While it wont recover the money lost, it may bring some justice and publicly humiliate Bernard and his cronies.
Well, pay any offshore auditors, accountants and liquidators and they generate a delicious report. A well planned exit plan. *salute to the management team.
Question now is whether there is justice in Singapore @jeff
Investors need to realize this isn’t being done for them. It’s so they have bullshit to feed Singaporean authorities.
“See, there’s no money left. We had our shell company on the other side of the planet liquidated!”
It’s a continuation of the “Our investor’s funds was lost by a guy in Vietnam!” police report.
In all likelihood Singaporean authorities are going to see these events happening offshore and file it in the “too hard” basket.
Bernard Ong and the gang lay low for a bit and live off everyone’s money.
I completely disagree. They are trying to help and save the fund for the investors.
I still 100% think Bernard is doing the right thing. He was forced to do it because all these emotional people jumped the gun and filed police reports.
Now there are lawyers getting involved. Those that have done nothing are now going to be punished.
I wish people would get their head out of their butt. I have been keeping an eye on Telegram and sending Torque updates so they at least know what people are up to with the Police Reports and lawyers.
That should at least keep them a step ahead so they can do the right thing.
Torque Trading’s executives only helped themselves… to your money.
This is all stalling theater. Lawyers etc. are going to hold who accountable, the people that hired them? Lulz!
Just more smoke and mirrors. MAS and the Singaporean police need to do their jobs.
You got Ponzi scammed, wake the fuck up already.
It is with little doubt, why you were scammed you simpleton.
I am not a simpleton. I am being rational. Bernard has not run off and had plastic surgery or gone to Brazil.
He is there in Singapore right in the fire trying to make this right.
My upline also 100% knows they are working on a solution. They just need to protect what little assets are left so they can rebuild.
For the time being I have instructed my downline to support them by getting into SnapBots.
That is a great platform with decent returns and has many great options for different investors.
I have put $5000 of my profits that I took from Torque into that platform.
Only giving them support will they triumph! I just wish there was a way to shut down these lawsuits.
Considering these police reports are likely based on false claims, I should file a one saying they are all false, since its a crime to file an illegal police report in Singapore.
You invested in a Ponzi scheme and had your money promptly stolen. You are understandably anything but rational.
The writing is on the wall. You got conned by serial Ponzi scammers, and they’re still conning you. Sorry for your loss.
Well that is your opinion. I am trying to help my downlines recover and SnapBots can do that for them. Bernard made a horrible mistake that he will not do again.
The best path forward is to brush the dirt off and continue.
In the meantime I am telling my downline to fight against those who want to file police reports and take legal action.
Hopefully we can inform Torque who these people are so Torque can close their accounts and divide the 10% in their accounts with those loyal to Torque & Bernard building back our capital lost quicker. They have violated the Ts & Cs of Torque and should deserve to be cast out with no compensation.
Have a nice day and I really do like the work you do. Take care Oz.
Yowza. That’s…that’s not entirely how T&Cs work.
Then Walter writes:
Mein Gott ! Yes Walter…you ARE a simpleton.
This ladies and gentlemen,is known as a serial Ponzi victim. Not only can’t you admit you were duped, you literally want to try recover by joining another scam.
On a scale of 1-stupid you cracked the meter.
I hope you have the stones to come apologize in 1-3 years when your next 5 ponzi scams have collapsed and you *Might* realize you have a compulsive gambling issue, or are just oblivious.
Poor Poor Walter. Just another so called Leader that wins by other people loosing.
Comedy that he justifies puting people into another Ponzi as helping his followers. Complete Scammer is this Walther fella.
This isn’t crypto space; this is the same old MLMing ponzi space.
If you want to help people avoid the same mistakes, tell them to avoid all MLM and never be “recruited” into anything like this guy:
On the behalf of the people here, sending you a “we told you so” in advance.
I hope you will bear all responsibilities and liabilities towards your downlines when reality hits you a second time.
Feel free to make a police report against those who reported their losses, if you truly believe in your own delusions.
Well, they are filing for liquidation. Likely the investors aren’t getting anything back.
All those promises about a recovery plan are just a lie to drag the poor folks. Wake up guys, you not getting your money back.
Initiating liquidation after you’ve squirreled away investor funds is peak sorry for your loss.
I am not a scammer. Unlike other that have taken their profits and run I am trying to help my downline.
I was fortunate enough to still clear a 100K profit out of Torque even after the collapse.
For those in my downline that lost, I am pitching 1K of those profits to each person who goes into SnapBots and puts 1K in or more.
I am essentially giving them a matching bonus to help recover their loss quicker.
I plan to do this for the first 50 that sign up, so essentially donated half my profits. So far I have 23 that have already moved over.
I doubt any of you would share a penny with your fellow peers to help them when they are down. Easy enough to be a keyboard quarterback instead…
I also am in Troncase and helping my downline with that as well to increase their Tron holdings. We will all recover just fine from this.
Those little brats that are seeking out legal counsel and wasting their money will put themselves in a bigger hole.
I hope they spend 1000s and dont get back a penny! I laugh at these little fools.
It will give me great pleasure when Torque gives them the boot…they have violated their agreement with Torque and betraying other investors.
This betrayal will not go unpunished. They wont even give Torque a chance to make things right.
They are greedy little children used to getting candy when they scream for it.
You’re a scammer. You stole from your downline and other Torque Trading net-losers.
That’s the reality of Ponzi schemes.
lol what is next, going to tell your downline to invest in GameStop? hahaha
Fortunate enough to have STOLEN out of Torque, congrats.
Holy crap you are not only leading others to get scammed,to you are pumping their accounts to improve your own referrals. That’s actually double douchebaggery there.
Hah,called it,Ponzi addict
You deserve every failure you receive in future.
In a Ponzi scheme, “clear a profit” == “stole from victims.” That includes, but is not limited to, your downline.
Half of your stolen money, you mean. And a “matching bonus” to rope them into another scam. What a hero.
You’re still 50k ahead, and it’s stolen money. Don’t expect any accolades from any of us.
And yeah, if I stole money from someone, I’d make it right. But I’d give it all back, and it wouldn’t be conditional on their joining another scheme. Good God, the people who rock up here.
Keyboard quarterbacks, are we? Cut the crap. A lot of good is done here, mostly protecting people from morally bankrupt knobs like you.
How did I steal? I had 100K worth of BTC and Eth in there for 8 months. I earned that 50K on the trading they did. I also earned another 50K in referral fees which I happily am giving back to my downline. That whole 50K is now being given away.
How is that pumping my referrals? Its just giving my downline money back that I earned from them allowing them another opportunity to invest.
Many did not have much left and thus I am helping them. The bonuses I am getting from that on SnapBots I am also allocating over to Troncase + for them.
They only need to put in 300 TRX of their own. Thats like $15.
I am sure there is no pleasing any of you until I give all my money away, sell my car, house and live like a bum…great reset here we come…anyway I am done with this site.
Have a nice life.
Torque Trading withdrawals weren’t paid with external revenue. They paid you with subsequently invested funds, which you stole from those who invested after you.
Legitimate companies don’t commit securities fraud.
See you when SnapBots and TronCase also inevitably collapse.
They didn’t trade, you gave your BTC away interest free. Anything you gained was donated after you.
Oh, what did you do to earn these donations from your followers? Traded and made profits with their BTC? No? Alright.
You didn’t earn anything, it’s not an investment,you aren’t doing anybody a favour you aren’t personally benefitting from. Get bent.
Yeah that happens when you give your money to a Ponzi.
Uh,no,helping them into another Ponzi is quite literally the opposite of “Help”.
Why? Thought you are giving away your “earnings”.
Nope,you stopping promoting Ponzis to people as “investments” will be fine.
Have a nice life.
Probably the best decision you’ve made in your life since there’s no saving you from your own stupidity.
Don’t you just love it when Ponzi pimps like Walter show up and try to deny they are stealing money.
Then try to play the altruism card as to how wonderful they are to assuage their conscious by claiming they are helping those they stole from. I know I do.
Recent episode of torque was just part of their exit plan. I’ve learnt that Bernard Ong and gang had started to move over 10millions USD to their new company Supernova reserve holding / supernova technologies / supernova asset management in late 2020.
I am fool to trust them. Please wake up Torque community members and not let Bernard Ong and gang to fool you further.
Just file report with the authority. Really hope that Singapore police force will do something about them.
The CEO of Snap Innovations has moved his family to Australia.
Who is the CEO? Also Australia’s borders are closed. If they moved they are either citizens or permanent residents.
@Oz: your answer – shorturl.at/pCHW5
I think internet archive / wayback machine still have snapshots of all the executives on the website.
Particularly self-serving when the “altruism” is contingent on their victims joining another scam. In their downline, of course.
Yep, that’s the dedicated Ponzi cultists, they will happily donate “winnings” to their downline to boost their referral bonuses.
It’s not like it cost them anything to begin with.
So liquidators latest update was total claim is 325million.
Cool. And where’s that going to come from?
Bottled unicorn piss sales
And Zee took only 72BTC. Where did the rest go?
Bernard selling his car? why we don’t see the advertisement?
Hearsay he is waiting for his landed to be ready (ongoing construction) hearsay he is counting cold hard cash from Torque Investor.
Mr Low Bought a Mercedes G wagon and 5.6m house.
Yes Bernard is selling his car and doing what he can to raise capital. People are constantly attacking him which I dont appreciate. He is doing what he can.
He moved the funds to SuperNova so they can resume trading without having to deal with the liquidators. That way they can help build the funds back.
Me and my downline have decided to support them through investing in Snapbots. I gave 50K of my Torque profits to help with my downline getting started in Snapbots.
That will at least help make the losses in Torque less painful, the least I can do since I managed not to lose money in Torque.
You are either very stupid or think that the rest of us are. There are no “profits” in a ponzi.
Lol Sell his car to who? he still driving around and staying at orchard area waiting for his landed property at 21 simon walk to be ready.
you give 50k ? might as well give all?
Guys an anonymous tip. Go and run a company check and look at who are the shareholders and figure out the rest yourselves.
@Walter is a $@#&* paid shill. Anyone who listens to him deserves to lose all their money another time.
Dear Torque staffs,
I had donated some white hat money to your next 9 generations. My deepest condolences to you & your generations.
Everyone made a report to SEC.
It will be helpful to help us get back our crypto asset.
Any news and updates?
Nothing on my end.