Complaint Review: FX Investment Group - FXIG - Marleston,

My website company did the IT work for Fred Honea and FXIG for 2 years from November 04 until the start of November 06. Our company's work was limited to ensuring the site stayed online along with technical work on the backend of the admin program. I decided not to renew our contract with FXIG as my company wanted to work for some similar businesses and felt it was inappropriate to continue with FXIG due to privacy and conflict issues. I also felt that my company and FXIG had different views on where FXIG was heading into the future. I wish Fred and his staff and all of the people at FXIG continued success as they move into the future. Due to a NDA (Non Disclosure Agreement) I am unable to take questions relating to FXIG.

He left FXIG a few months ago. Fred Honea and his wife runs FXIG.

He left FXIG a few months ago. Fred Honea and his wife runs FXIG.

He left FXIG a few months ago. Fred Honea and his wife runs FXIG.

FXIG is now closed to new members. A ponzi needs fresh money in to pay old money.

We have not heard from Anthony/Rich Clark for a few weeks now. Our site is no longer being shut down via a DoS attack. This person has tried to cause trouble on around 30 websites in an attempt for us to want him to stop and for him to be paid. Most of those 30 websites have now deleted his garbage as they know it is false. It is highly illegal to try and extort money from an individual or company. Please let it be noted that Ron does not work for FXIG, he works for an IT company that helps us with our site from time to time. If anything it is him we feel for as for some reason this person has a vandetta against him and continues to slander his name.

This person "Anthony" is better known as Rich Clark, he has sent us RANSOM messages, DoS attacked our sites. He will not stop doing this until we pay him $20,000. We refuse to do this, as he will keep coming back for more. If we find out who this person is, we will commence legal action immediately. Read below to find out how this person operates. He will continue with these lies until we pay him $20,000, we will not pay anybody who holds us to ransom. He faked being a member of FXIG, tried to say he wasn't paid, then said he was. He was never a member. He broke into a FXIG member's Egold account and stole $7500, this is a fact and the mods at HYIPd can confirm this. He logged in under the person's name saying he was testing FXIG, this was the same IP address as Rich Clark. He uses different user names in not only this forum but also others, again this has been verified by the Mods. He has DoS attacked the website a number of times. And the biggest of all, he was the person that ran PRIVATE OPS, yes that is correct, anyone wanting to get their losses back, you now know who was responsible.

This complaint is in regard to the FX Investment Group a.k.a. FXIG, apparently run by two individuals: Ronald Basset of Marleston, South Australia, and Fred Honea. Another individual named "Joel Norman" seems to be involved, but this identity may be fictitious. The program manages somewhere between 40 and 60 million U.S. dollars in individual investor accounts and promises average monthly returns of 20%. According to their website, they have paid a total of 284,000% interest since May 2002. However, their existence before late 2004 is completely unverifiable, as there are no records of any financial or internet presence before November 2004. E-mail addresses: [email protected], [email protected], [email protected] Telephone numbers: 1-718-577-1049 (old FXIG line) 1-210-775-2647 (FXIG line, possibly Fred Honea) 614-092-85876 (Joel Norman, Australia) 614-128-82763 (Ron Basset, Australia) 1-425-296-2463 ("Shawna", FXIG Employee/Promoter) Website address: http://www.fxinvestmentgroup.com The company in question is clearly a Pyramid scheme, unlicensed to take any sort of investment whatsoever. They claim to be incorporated in Belize, but the Belizean government website contains a warning not to invest with FXIG, as they are unlicensed to take investments. They host a number of events in the USA, and they primarily cater to U.S. nationals to fund the pyramid. The network is now growing through the referral of friends and family members. Each member is able to refer up to 5 such new members, and most readily use up all five, knowing that this is where the majority of the accrued interest originates. Last May, I deposited 5,000 USD into this program. They claimed to provide an average of 20% monthly returns while using no more than 10% of investors funds. The following web archives show these claims in detail: "The average monthly amount has been 20% each month. We have had some 100% months. " http://web.archive.org/web/20050316115242/www.fxinvestmentgroup.com/index.cfm?fuseaction=viewfaqs "No more than 10% of your fund is invested at one time." http://web.archive.org/web/20050129035000/http://fxinvestmentgroup.com/ and 2 months later, same statement about 10% being invested: http://web.archive.org/web/20050316083748/http://www.fxinvestmentgroup.com/ I was unaware at the time of Pyramid schemes and the notion that FXIG may be one. There are numerous forums where such programs are touted as the holy grail of investment. One such forum, where the administrators and moderators are heavily invested in FXIG, openly promote it, and delete the posts of any members who show any evidence to the contrary is: www.hyipdiscussion.com. Such moderators and administrators generally withdraw from such programs shortly before they suspect a collapse, and also likely receive additional payments from pyramid scam operators. They have closed my account on their site and now claim to be a private program. However, their members continue to refer others into the program.

This person has been going by the name of Rich Clark in a number of internet forums. He claims that he was a member of ours, every time we have asked him to provide his membership details he doesn't. That is because he can't as he never was a member. This person hides behind fake names, he is involved with a business that is in direct competition with ours, so he tries to start these rumours to harm our business. He has also stolen money off one of one of our members and tried again to steal money off another one just today. His extorsion attempt has failed as we refuse to send him $20,000 like he has demanded. If we knew who this person was, we would commence legal action.