Warning Investors JBYCapital
Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Introduction:
When it comes to investing your hard-earned money, the importance of thorough research and due diligence cannot be overstated. Unfortunately, not all investment firms have your best interests at heart. Enter JBYCapital, a company recently exposed as a boiler room scam by the Dutch Authority for the Financial Markets (AFM) on September 21, 2023. In this comprehensive review, we’ll delve into what a boiler room scheme entails, how JBYCapital operates, and why you should steer clear of its enticing offers.
Regulation and Compliance:
A boiler room is a deceptive financial scheme employing high-pressure sales tactics to dupe inexperienced investors into purchasing worthless or non-existent shares. These schemes prey on individuals seeking high returns with minimal risk. JBYCapital is one such boiler room that has been operating in the Netherlands and beyond. The AFM has determined that JBYCapital, in violation of regulations, approached potential investors without solicitation. More importantly, JBYCapital lacks the crucial AFM license or a European Passport, rendering it unauthorized to provide investment services in the Netherlands and the European Union.
Reputation:
Unsurprisingly, JBYCapital’s reputation is tarnished by an abundance of negative customer reviews. Here are some firsthand accounts from individuals who fell victim to their deceitful practices:
– One investor recalls, “I was contacted by JBYCapital, and they persuaded me to invest 10,000 euros in shares. Promising a contract and confirmation email, I received nothing. When I tried to reach out to them, all communication ceased. Realizing I had been scammed, I reported them to the AFM.”
– Another victim shares, “JBYCapital is a scam. They relentlessly called me, pressuring me to invest 5,000 euros in shares of a company about to go public. After I transferred the money, they vanished, providing neither documents nor statements. My bank and the AFM offered no assistance.”
– A third victim warns, “Do not trust JBYCapital. They are liars and thieves. They offered me shares in a seemingly profitable and secure company, along with a team of market experts to guide me. They claimed to have an AFM license and European Union regulation. I invested 15,000 euros, only to discover the value of my shares plummeting. JBYCapital’s website was fake, featuring bogus contact information, fake licenses, and a fabricated address. I lost all my money.”
Products and Services:
JBYCapital boasts an array of investment products and services, including stocks, forex, commodities, indices, cryptocurrencies, CFDs, ETFs, bonds, options, and futures. However, it’s essential to note that these offerings are either non-existent or of subpar quality. JBYCapital lacks access to legitimate markets, fails to provide real information or asset analysis, and offers no risk management tools or customer protection measures.
Location:
JBYCapital claims to be situated at Herengracht 450, 1017 CA Amsterdam, The Netherlands, with a phone number of +31 20 808 0229 and email address [email protected]. Regrettably, these details are pure fabrications. The address does not exist, the phone number is out of service, the email address is invalid, and their website is insecure and unprofessional.
Customer Service:
JBYCapital’s customer service is virtually non-existent. They only reach out to customers when soliciting additional investments. Regrettably, they do not respond to queries or complaints from existing investors and offer no support or guidance on using their platform or managing investments.
Conclusion:
In conclusion, JBYCapital is a textbook example of a boiler room scam, and it is strongly advised to steer clear of their deceptive practices. They lack any form of regulation or licensing, and their offerings are a facade meant to part you from your money. If you ever receive unsolicited offers from JBYCapital or a similar entity, resist the temptation and report them to the AFM or your local regulatory authority. Be proactive in safeguarding your investments by keeping an eye on the AFM’s website for updates, warnings, and information about boiler rooms and other fraudulent schemes. Your financial security is paramount, and caution is your best ally.
