Complaint Review: Algo Capitals - Internet

I see there are several reports now about Algo Capitals.  I doubt I'll get my money back but to raise awareness this is my story.

I invested in NRG Binary in Aug 2014.  I lost money but my broker "Michael Vineyard" (MichaelV) was very friendly and accomodating.  Promised better returns if I switched to MT4 based FX trading on a managed account.  I had US$5000 I was looking to invest but was selling my house so knew I had more funds comming.  I invested the US$5000 and he delivered an amazing $22,000 in profits in 3 weeks.  I took a US$1500 withdraw request and they gave it to me.  Then however Michael "took a vacation" (which he pre-informed)  however durring this time no alternate contacts were provided.  The account tanked at that point with all trades going against any market logic and my US$27,000 balanced was reduced to ~US$500 in 2 days.  

My account was then transferred to "Dave Garcia" (DaveG) who was introduced to be the head of their trade floor.  He promised a less risk strategy that seemed reasonable but he only generally managed portfolios US$100,000 or higher.  HE said he was taking my account as a special favor to Michael Vineyard to recover my confidence and account.  He said he fired the 2 prokers that had been trading my last investment because they were doing too agressively and too high risk.  HE asked me for $50,000 for him to trade though but wanted me to invest $100,000 ideally.  He promised me I could withdraw any time.   I have screenshots clearly showing him saying my money isnt locked and I can withdraw anytime.  I gathered the cash I could and deposited another US$45,000.  

Once again trades were being submitted in the opposite of any technichal or fundimental logic.  3 times I asked him to close all open positions and cease trading but no response.   I submitted several withdraw requests with no response.  When DaveG finally called me back he said I should have more confidence and trust him.. please deposit another US$25,000 (My account was surprisingly profiting by then at US$67,000.  I xplained that I'd recently lost my job, have pay rent, bulls and my daughters tuition.  I asked for a return and told him please show me good faith and I will invest again once I find a new job but for now I'm distressed and need to the cash on hand.  We got into an arguement.  He hung up on me.

I tried to contact the Algo support line, info line, both Michael and Dave and no response.  This was last Thursday and by weekend I had no response so I screenshot all transactions and summaries.   From Monday morning I couldnt login to view my account and still havent had a response from anyone.  Its been 6 days since I couldnt get an update.  I've been scammed.  There is no "Algo Capitals" registered as a company in the UK.

I've contacted actionfraud.police.uk  to report the incident and suggest any other victim do so too.  I've contacted the local police as well and am following up with the banks to see what can be done.   I'm also looking into other international agencies to bring these scammers to justice.  ALGO CAPITALS ARE A FRAUD DO NOT INVEST!  Please remember I didnt lose money on an investment, they just refused to stop trading and my account was at a profit.  They just wont give the money back.  They will try to lose it on their fake MT4 server to justify their theft.  My account was $67,000 on a $50,000 investment and they still won't return even the $50,000 original investment.  They wont even talk to me and they dont answer their phones.  

For those out there that say I'm an idiot to drop in US$50,000 to an online site, yes I will agree.  Shouldnt have put my eggs in one basket but I did the dilligence I could.  Unfortunately I made one mistake.  "Algo Capital Management" is a legally regulated company in the UK.  I missed that this was "Algo Capitals" (note the "s" at the end")  I did my research based on "Algo Capital"  and it was all legit.  My bad and I just lost my life savings as a stupidity tax.  "Algo Capitals" isnt even a registered company in the UK".  I'm not complaining because they lost me money, I'm just saying that even at a profit you wont get anything back - its a fraud.

I hope the police catch these guys and if so I plan to sue.  Please contact me if anyone else is interested in a lawsuit.  I'm sure you can be put in touch through the site administrator.