Recover Funds UK is a Scam

Recover Funds UK is a scam. A day after we published an article warning that cooperateinsurance.com is a scam we began receiving emails about Recover Funds UK. The two organisations are linked. They are run by the same people.

Yesterdays’ article began with this paragraph “cooperateinsurance.com is a scam linked to Market Effects, Brokers Community and Traders Insurance Bureau. Mark Edward (not his real name) is working his socks off to find as many ways as he can to scam investors. All four of the organisations mentioned above involve the same team of scammers”.

Well now we can add a fifth organisation, Recover Funds, full name Recover Funds UK, to that group of four. This is a concerted effort by very determined scammers to take more money from the victims of binary option and cryptocurrency scams. These five organisations are all part of the same complex scam. How do we know ?

1. They’ve all come along at the same time.
2. They are targeted at the same groups of investors.
3. The emails they send out and the websites they’ve produced refer to the other parties involved in the scam.
4. All the domain names used by the scammers have been bought very recently.
5. The new websites contain the same wording. Somebody has been lazy.
6. The logos are almost identical.

Sometimes the reference to their other scam partners may be deliberate and sometimes it may be a mistake. Here is a mistake from the cooperateinsurance.com website.

Uncover the Truth

Recover Funds has an intelligence gathering team that tracks down underground information about unregulated binary options companies.

Oops. The person who wrote the text forgot which website and organisation he was supposed to be writing about. Nowhere else on the website does cooperateinsurance.com mention an organisation called Recover Funds so it is very odd that this phrase suddenly appears. Recover Funds UK is a scam.

Here’s a list of things that the cooperateinsurance.com website claims it can do for investors.

We offer our clients the following services:

✓ Asset recovery
✓ Risk management
✓ Litigation advisory
✓ Crisis management
✓ Claims assessment

Here’s a list of things that the Recover Funds UK website claims it can do for investors.

Recover Funds UK provides its clients with the following services:

✓ Asset recovery
✓ Risk management
✓ Litigation advisory
✓ Crisis management
✓ Claims assessment

Lazy devils. They can’t even be bothered to shuffle the list around. It’s a straight copy.

The final nail in the coffin is that the logos for both companies are exactly the same. The logos are an image of a handshake with the same vertical bar. The only thing they’ve bothered to change is the wording. One says “Recover Funds” and the other says “Co-operate Insurance”.

So let’s look at what Recover Funds UK is sending out. Here is the text of two emails received by investors.

Hello.

We came up with a new service to specifically help medium to big size investors.

If you believe you have been scammed by an online trading company and your losses surpass $5,000, you’re 1000% eligible for a full refund.

This course may take up to 120 days.  We wish you a lovely week,

Sincerely,

Recover Funds UK

[email protected]

and it was closely followed by this one.

Dear Investor,
 
Your account under the Trader ID #XXXXXX is qualified for a full investment recovery.

Please add us as a contact on your E-Mail account It’s highly important that you will receive all of our E-mails to your inbox.

Take me to recovery page

The process takes 60 seconds, And you will learn how to save yourself from bad investments as well.

Thanks,

Jeff Mcadoo | Chief of Compliance

Email: [email protected]

Phone: +442034555222

Wow…. “You’re 1000% eligible for a full refund”. 1000% – I assume that is ten times better than 100%. We’re not even going to bother to talk about Jeff Mcadoo because he’s using a false name.

A little bit of research reveals that the emails were sent from this company and address located in Bulgaria: PMC MEDIA LTD, Address: 1124 Sofia, Bulgaria, Sredets Region, Yavorov R.A., 3 Chavdar Voyvoda, ent.V, app.6

So.….Recover Funds UK emails come from Bulgaria.

The interesting thing is that the Recover Funds scam introduces a new element. Initially you might think this is a typical follow-on-fraud where they will claim to have recovered the money and will release it once the investor pays an admin fee or local taxes or a commission etc, but they’ve altered it by introducing a bizarre 120 day training course which claims to be able to help the investor recognise scams. However, the real twist comes once the investor clicks on the link take me to recovery page. I have to admit I thought I would be taken to a website which would talk about how I could recover funds. After all, that’s the name of the company and that’s the service they seem to be offering.

Sure, there are sections which explain how they are going to recover the funds (they’re not by the way – it’s just a pretence. Recover Funds UK is a scam). But the real aim of Recover Funds UK is to try to get more money from people in the form of a new investment. The website is a thinly disguised attempt to persuade the people who lost money in binary options and cryptocurrency scams to invest with Recover Funds in another trading scam focused on CFDs and Forex ! 

For example, here is the first part of the wording on their Disclaimer (or as they call it ‘Disclamer’):

INFORMATION ON THIS SITE:

‘Recover Funds’ sales video is fictitious and was produced to portray the potential of ‘Recover Funds’ 3rd party signals software. Actors have been used to present this opportunity and it should be viewed for entertainment purposes only. We do not guarantee income or success. All income results shown in the video and anywhere else on this website do not represent an indication of future success or earnings.

Information on ‘Recover Funds’ should not be seen as a recommendation to trade CFD and Forex. ‘Recover Funds’ provides you with links to free CFD and Forex trading software that enables you to receive free signals from 3rd parties……

And here is the text from the bottom of their Home Page:

HIGH RISK INVESTMENT WARNING: Trading CFDs and Cryptocurrencies is highly speculative, carries a level of risk and may not be suitable for all investors. You may lose all of your invested capital. You should not speculate with capital that you cannot afford to lose. Past performance is not indicative of future returns.

OUR COMMENT:  DO NOT BE TAKEN IN BY PROMISES OF FUNDS RECOVERY, CHARGEBACKS, INVESTIGATIONS ETC. RECOVER FUNDS UK IS A SCAM AND IS PART OF A NETWORK OF SCAMMERS. DO NOT GIVE THEM ANY OF YOUR PERSONAL ID OR BANKING DETAILS.

The “new service to specifically help medium to big size investors”, which they claim is a course which could take up to 120 days, will be them pretending to teach the victims how to successfully trade CFDs and Forex. Our experience of trading scams like this is that none of the trades are real. Investors can login to their own personal accounts and view the trades which have allegedly been done on their account, but they are really watching a piece of software designed to show fake trades. The truth is that their money was stolen the moment they paid it over and none of those trades ever took place. The account will show a steadily rising profit in order to encourage the investor to invest more money. The “Trader” will regularly call the investor to tell them to put more money in because then the profits will be even greater. Eventually the company will disappear along with all the cash. This has happened hundreds of times to many thousands of investors.

DO NOT BE TEMPTED TO ENGAGE WITH RECOVER FUNDS. RECOVER FUNDS UK IS A SCAM.

To view our previous article on this scam network please click here.