Financial Investment Fraud

Matrix Intelligence were instructed by a Client who suspected that they may have been the victim of an elaborate fraud.

The client was approaching retirement, had a comfortable pension provision and investment portfolio and had recently invested funds with a new financial investment company which had promised market-beating rates of return.

Over subsequent months, the client received regular communications illustrating substantial growth and offering opportunities to top-up their investment. The client did so on two further occasions with increasingly larger sums.

Within a few months the investment had grown so large that the client decided to cash-out and realise their profit. It was at this point the client began to suspect that he had been the victim of fraud when the investment company informed them that they could only withdraw their funds if they first invested one final significant sum of money. When the client refused, things turned nasty, with the company starting to use threatening language.

The investment company then claimed that the funds were not held in the UK, as previously stated, but that they were actually in the U.A.E and that because the account was ‘in dispute’, it would be frozen pending an investigation by the Dubai Investment Authority. It was at this point that Matrix Intelligence became involved.

Outcome

We conducted an investigation into the company and key individuals and quickly ascertained that this was an elaborate fraud. They had cloned the website of a legitimate financial firm and setup email accounts which mimicked the originals. By coaching our client and maintaining ongoing communication with the fraudsters, we were able to trace them to an address in the UK and provide a detailed report as to their activities.

The client was unwilling to pursue a prosecution due to the cost of doing so and poor likelihood of recovering their funds, however; they were able to use our report to enable them to write off their investment as a legitimate loss and offset it against their tax liability.

Working with Matrix Intelligence

If you have cause to believe you may have been the victim of Fraud, then Matrix Intelligence can assist. Prior to informing your legal team, the police and/or regulatory authorities, it is essential to first understand how long, widespread and entrenched the activity is. You are then able to make an informed decision as to how best to proceed.