₦airaland Forum

Before you go calling the police on the fraudster as tagged, think twice if you really legally have a case , was there an invoice of business transaction?? if he intends to deny any transaction ever happened even if any ever happened he could just claim (in this context) plausible deniability claiming the money was only a gift. transferring money into ones account is not enough to persecute someone.If the case ends up in court , you all lose within the first hearing.

The best thing you do is just wait till he pays , or if he doesn't then just consider it a loss for your stupidity and naivety..

toluxa1:
I did not give him money to trade for me. 70% of it was money to purchase Neteller funds which I have not seen till today. The remaining, he begged me to borrow him when he was in a fix. He promised to pay back in one week and now it's over two months. Ogboraph is a close friend and I never thought I would have to do this. As you rightly pointed out, we don dey together here tey tey... But his attitude of not even picking calls of communicating leaves me no choice. I have been calling this guy now for like 3 weeks, he NEVER EVER picks my call.

I know its not exactly my business, but u said two months ago and if am not mistaken that was the same time manuntd came up with the problem of the neteller and made it open to the house, you even said u have to borrow him extra cash

This is more like see a pit with eyes wide open and still falling inside

-When you use your OWN money to trade, and yet you are not descipline, and blow it away like a paper in a cyclone, then you are a far from being a good or professional trader.

-When you now collect money under false pretence from so called faceless friends, and you promise them heaven and earth returns in few weeks, and still you blow the money away in few weeks, you are not a professional or good trader.

The big part, when your closest friend entrust you to do bussiness for him not even related to fx, and you collected the money and still borrow join, carry the money fund fx account, and yet, you blow it away in few trades, then you are now not only a bad trader nor a professional, you are now a BIG SCAMMER with no shame. @ toluxa1, your money has been used to trade and blown away.

How on earth will you trade with OPM (other peoples money) when you , your self is far from being a good trader?. And yet some people is still giving that dude more money, As seen recently on the account he posted? shhhh

I have wondered how people trade with money they cant loose by themselves. Personally i have my business, and i can avoid to even deposit min $100 monthly without affecting my family expenses. In fact my recent deposit of $100 has been blown away while testing new strategy on a broker (but i have made far far far more withdrawn profits in $000s in fx than loosing for the past 5 years so far i keep it as simple as i want). But to give someone, a money doubler to trade for me, i will rather give it out to beggars on the street.

sweetmaris:
I know its not exactly my business, but u said two months ago and if am not mistaken that was the same time manuntd came up with the problem of the neteller and made it open to the house, you even said u have to borrow him extra cash

This is more like see a pit with eyes wide open and still falling inside

I think this answers your question (if it's a question). Work the dates...

toluxa1:
I think this answers your question (if it's a question). Work the dates...

you have a badoo message

jorel1:
Before you go calling the police on the fraudster as tagged, think twice if you really legally have a case , was there an invoice of business transaction?? if he intends to deny any transaction ever happened even if any ever happened he could just claim (in this context) plausible deniability claiming the money was only a gift. transferring money into ones account is not enough to persecute someone.If the case ends up in court , you all lose within the first hearing.

The best thing you do is just wait till he pays , or if he doesn't then just consider it a loss for your stupidity and naivety..

I'm banking on him to act like that under oath.
That would be Perjury
It's becomes a criminal offence.
18.         Any person who commits perjury is liable to imprisonment for Punishment fourteen years. of perjury.
 
Jorel sadly you are very wrong, as long he took the money under false pretence, he has a legal case. But I do advise it to be the last resort.
Even there's a law binding verbal agreement and handshake agreement. You speak like you have enlightenment in legal matters but you are totally wrong.
Ogbo has more than one person he scammed meaning he could be sued by them all.
Trust me this country is hard enough, and hearing of foreign exchange scam would trigger some unhappy people waiting to get this case, the problem now is those the ogbo has any reputation he wants to protect?

Inasmuch this saddens my heart greatly,
I did saw this coming and I tried warning y'all about ogbo, but I was resented and some called me new and ogbo a long term professional.
I might be new here but I'm not new to the forex business.
Before I partook forex a while ago. I examined the pros and cons of this trade, yes I did my research.
And I found ogbo scam pattern along the line, only if y'all had listen. The real problem was Tom, he was a drowning man and ogbo baited him believing to have thrown in a life line. Now that was were the pattern was completed.
Anyway the did has been done.
We came here to help each other and to improve ourselves but now most of the talks is on ogbo and that is very sad.
To me let's find the ogbo and get leverage on him. That's the only way out.
Ogbo believes no one here got nothing on him, but let's prove him wrong.
For the greater good of us all.
And the money he took, would be refunded.
But those that has been scammed by ogbo should all come out and create a thread on him, darn it! That is long over due. All details on him should be posted there too. I'm sure we would get him, even if he runaway. First y'all that has deposit money in account gaddamnit f**king blow a whistle on his account

Regards,
EF

Jorel before you come here and say something else.
While you are here saying it's impossible.

You should read this
https://en.m.wikipedia.org/wiki/Foreign_exchange_fraud

https://en.m.wikipedia.org/wiki/Retail_foreign_exchange_trading

If the matter looks unsolvable then write a petition to the EFCC as a [color=#000000]last resort[/color].

Feshizzy:
Inasmuch this saddens my heart greatly,
I did saw this coming and I tried warning y'all about ogbo, but I was resented and some called me new and ogbo a long term professional.
I might be new here but I'm not new to the forex business.
Before I partook forex a while ago. I examined the pros and cons of this trade, yes I did my research.
And I found ogbo scam pattern along the line, only if y'all had listen. The real problem was Tom, he was a drowning man and ogbo baited him believing to have thrown in a life line. Now that was were the pattern was completed.
Anyway the did has been done.
We came here to help each other and to improve ourselves but now most of the talks is on ogbo and that is very sad.
To me let's find the ogbo and get leverage on him. That's the only way out.
Ogbo believes no one here got nothing on him, but let's prove him wrong.
For the greater good of us all.
And the money he took, would be refunded.
But those that has been scammed by ogbo should all come out and create a thread on him, darn it! That is long over due. All details on him should be posted there too. I'm sure we would get him, even if he runaway. First y'all that has deposit money in account gaddamnit f**king blow a whistle on his account

Regards,
EF

Once we ban forex promotion on Nairaland, things like this will no longer happen. Speculative businesses like forex are very prone to fraud.

Seun:
Once we ban forex promotion on Nairaland, things like this will no longer happen. Speculative businesses like forex are very prone to fraud.

Things like this will continue to happen be it on nairaland or elsewhere as long money is involved and the likes of ogbo raph is here

Feshizzy:
Jorel before you come here and say something else.
While you are here saying it's impossible.

You should read this
https://en.m.wikipedia.org/wiki/Foreign_exchange_fraud

https://en.m.wikipedia.org/wiki/Retail_foreign_exchange_trading

If the matter looks unsolvable then write a petition to the EFCC as a [color=#000000]last resort[/color].

And where did the defendant advertise net-teller funds for sell?? on whatzapp or online forum?? arent there registered companies existing where you would have carried out the said transaction? the only evidence I see is a whats app chat showing your discussions in private and maybe a bank slip... all these still doesn't hold.
I am not trying to be on sidelines with Ogbo but I only present to you all possible scenarios how this will play out..
worst case scenario if he agrees that he received money from you for a transaction , the court would only give him a deadline to payback or finalize the deal since your transaction probably doesn't have a fixed timeline to accomplish the transaction thus deemed as a transaction still in progress.

The plaintiff will still be termed as making a mockery of the court because you acted on basis of your own stupidity..he isnt operating a registered bussiness in Nigeria so whatever you did you shoud know you acted at your own risk...

jorel1:
And where did the defendant advertise net-teller funds for sell?? on whatzapp or online forum?? arent there registered companies existing where you would have carried out the said transaction? the only evidence I see is a whats app chat showing your discussions in private and maybe a bank slip... all these still doesn't hold.
I am not trying to be on sidelines with Ogbo but I only present to you all possible scenarios how this will play out..
worst case scenario if he agrees that he received money from you for a transaction , the court would only give him a deadline to payback or finalize the deal since your transaction probably doesn't have a fixed timeline to accomplish the transaction thus deemed as a transaction still in progress.

The plaintiff will still be termed as making a mockery of the court because you acted on basis of your own stupidity..he isnt operating a registered bussiness in Nigeria so whatever you did you shoud know you acted at your own risk...

I say you I right my friend.
You just brought out evidence.
1. Firstly operating a transaction without a business name thereby invading taxes. It doesn't matter where he advertise, just that he advertise.
2. The WhatsApp conversation and Bank slip is all the evidence needed to start a case, mind you there would be more than one plaintiff.
3. The deadline and payback, you are wrong on this part, there is a deadline and a payback, seems you had ignored that.

I'm not a lawyer, but I watch the entire season on suits, and I know where there is standing legal case and its all admissible in court. That is why I said they should give him a deadline and blow whistle is his account. Trust me it would make case when he tried to run away.

Regards,
EF

Despite I agree with seun on banning on FX promotion on his site, I don't think total banning is advisable. FX trading is a business on his own and people make genuine money in it unlike betting which is highly speculative. I have never do game betting or soccer betting and I will never do such before you will never make money in speculative stuffs. Seun should know that there is very small difference between FX trade and stock trades which he likes, but the uncontrolled risks in former is what makes it riskier more. Any one that find FX risky should gather more money and should go and learn how to trade commodity and futures but to me that has enjoyed FX money, I will still continue as long as I want.
If seun needs to ban FX here,please don't leave data reseller threads,stock threads,binary options , auto sections,fiverr and infact all major ways to do business online because we have read many bad reputation about many of the so called business men/women on those threads.
What is good for the groundnut is also good for the cashewnuts.

Seun:
Once we ban forex promotion on Nairaland, things like this will no longer happen. Speculative businesses like forex are very prone to fraud.

All business have their own scam, there are people who get duped when they want to buy a house or land, so are you going to say real estate business is fraud??

Personally I make something decent from trading, it seems Forex hav done you strong thing in the past, hence you are very bitter

Its just DAT many people are already used to this thread,
Becos I feel we are even doing you a favour by coming here, maybe you should ask mark zuckerberg...


At all we seriously have to start looking for an alternative , becos we are the strongest trading group presently in naija.. Av been motivated, encouraged, enlightened and so on, I really don't want to lose you guys

Seun:
Once we ban forex promotion on Nairaland, things like this will no longer happen. Speculative businesses like forex are very prone to fraud.

Ogbograph technically never advertise anything,
He just acted to be making money, and some people here went behind to make deals with him, without informing anybody here, that's why everyone is so pissed.
The truth is that it was carelessness on their part.
The only way is to have a mod that is very knowledgeable on how this forex really works and place a caution or awareness on any trader making unethical promotions, banning or deleting their post won't solve this, the awareness will.
Just my 2 cents though.

Regards,
EF

Forex is a zero sum game, which means that for someone to win, someone else must lose. Even if every "investor" is disciplined and "smart" and following the "best strategies", some people must lose money in order for others to win. Every win is at the expense of someone's loses. And that is before you consider the fees. When you consider the fees, it becomes clear that retail forex is a very dumb business to be in.

sweetmaris:
All business have their own scam, there are people who get duped when they want to buy a house or land, so are you going to say real estate business is fraud??

Real business is superior in many ways:
1) In real business, whether you succeed or fail, you're providing a useful service to society. In retail FOREX speculation, you're not.
2) If all people who go into a legitimate business are smart, it is possible for all of them to be successful. In FOREX, many people must lose.
3) In FOREX, the winners are the brokers or lucky. In business, the winners are usually those who provide the best value to society.

I feel bad about disrupting the forex communities on Nairaland, but we'll be better off when real business topics start dominating this section.

sweetmaris:
Am going to give u a kiss for this
Lol...

Lol, Good Evening me lady,

I have kissed[b][/b] you already , I have waited long enough for this (lol)

Do have a lovely weekend me lady

XOXO

Seun:
Forex is a zero sum game, which means that for someone to win, someone else must lose. Even if every "investor" is disciplined and "smart" and following the "best strategies", some people must lose money in order for others to win. Every win is at the expense of someone's loses. And that is before you consider the fees. When you consider the fees, it becomes clear that retail forex is a very dumb business to be in.



Real business is superior in many ways:
1) In real business, whether you succeed or fail, you're providing a useful service to society. In retail FOREX speculation, you're not.
2) If all people who go into a legitimate business are smart, it is possible for all of them to be successful. In FOREX, many people must lose.
3) In FOREX, the winners are the brokers or lucky. In business, the winners are usually those who provide the best value to society.

I feel bad about disrupting the forex communities on Nairaland, but we'll be better off when real business topics start dominating this section.

I dont think you are in any position to dictate which business is dumb or not.. Its individual choice. If you arent well knowledgeable or trained about a business doesnt give you the gut to call it dumb.. for you , your business is the best to be in but this would be your opinion as it could be a dumb for others as well.

Its best you leave your personal sentiments aside while you comment.

So when I sell adulterated sachet water to people or engage in sexual services for a living , thats the best not dumb business for one to be in I guess.

Seun:
Forex is a zero sum game, which means that for someone to win, someone else must lose. Even if every "investor" is disciplined and "smart" and following the "best strategies", some people must lose money in order for others to win. Every win is at the expense of someone's loses. And that is before you consider the fees. When you consider the fees, it becomes clear that retail forex is a very dumb business to be in.



Real business is superior in many ways:
1) In real business, whether you succeed or fail, you're providing a useful service to society. In retail FOREX speculation, you're not.
2) If all people who go into a legitimate business are smart, it is possible for all of them to be successful. In FOREX, many people must lose.
3) In FOREX, the winners are the brokers or lucky. In business, the winners are usually those who provide the best value to society.

I feel bad about disrupting the forex communities on Nairaland, but we'll be better off when real business topics start dominating this section.

I understand you completely sir,
If forex would be taken down so also should stocks, bonds, options, futures, ETF, CFD's, mutual funds, hedge funds, metals, Indices the list goes on as far as online trading goes.
Reason is all are zero sum game and should be treated equally.
All comes with certain risks. All brokers has disclaimers on the risk of losing money.
Sir if traders can't read the fine prints no one is to be blamed.
Sir before you ban, state a forex broker that doesn't have a disclaimer?
Not everyone has a million naira to invest in businesses, if traders don't do their homework it's on them.
Investment is to be seen as a second source of income.

Regards,
EF

Bevista:
Epic response! The bolded text shows you are a true Sensei.

Your results may not be jaw-dropping as some might expect, but your trading approach is just pure class. You are not meant for Retail level play. What you do is Institutional level.

Your discipline and accountability is highly commendable. I hope to be like you when I grow up (lol).

I've said this before and I'll say it again - Great things await you my dear Sensei.

Eyyyyyyy, Bevista my man, been a while I heard your soothing words.

The accountability of a Monk and the discipline of a Samurai/Shinobi is what I think would separate one from the flock in our today's world. I am hoping that would someday be a lifeline for me, and if it doesn't here on earth, perhaps in heaven or the life after this (lol)

Thank you for your kind words and encouragement Sensei Bevista, still looking forward to the great things that awaits me boss, I will continue to be your true Samurai/Shinobi/Monk.

Do have an awesome weekend friend

Seun:
Forex is a zero sum game, which means that for someone to win, someone else must lose. Even if every "investor" is disciplined and "smart" and following the "best strategies", some people must lose money in order for others to win. Every win is at the expense of someone's loses. And that is before you consider the fees. When you consider the fees, it becomes clear that retail forex is a very dumb business to be in.



Real business is superior in many ways:
1) In real business, whether you succeed or fail, you're providing a useful service to society. In retail FOREX speculation, you're not.
2) If all people who go into a legitimate business are smart, it is possible for all of them to be successful. In FOREX, many people must lose.
3) In FOREX, the winners are the brokers or lucky. In business, the winners are usually those who provide the best value to society.

I feel bad about disrupting the forex communities on Nairaland, but we'll be better off when real business topics start dominating this section.

Very wrong sir ! In Forex,its not necessary that someone must loose for another person to make profit . Nay ! The concept is very simple, Mr A bought at #10 and when price rose to #15 he decided to exit his trade. At that point in time of exit ,there are some new entrants that are ready and willing to buy at #15 for a future rise in price. If the new entrants Mr B bought at #15 for future price gain, Mr A that is exiting would have made profit for buying from #10. In a nutshell, someone don't necessarily have to loose for another person gain, though in most cases we have greater loosers than gainers and that is due to not being versatile in the real KNOWLEDGE and BEHAVIOUR of the market.

Feshizzy:
I say you I right my friend.
You just brought out evidence.
1. Firstly operating a transaction without a business name thereby invading taxes. It doesn't matter where he advertise, just that he advertise.
2. The WhatsApp conversation and Bank slip is all the evidence needed to start a case, mind you there would be more than one plaintiff.
3. The deadline and payback, you are wrong on this part, there is a deadline and a payback, seems you had ignored that.

I'm not a lawyer, but I watch the entire season on suits, and I know where there is standing legal case and its all admissible in court. That is why I said they should give him a deadline and blow whistle is his account. Trust me it would make case when he tried to run away.

Regards,
EF

He isnt running a business, its more of a help. this is easy to claim

Haha, I get to enjoy this thread more and more.
Thanks @ Abbeyforex, u explained better in lay man's English what Forex is. Mr Seun's concept of Forex is quite funny.....

jorel1:
He isnt running a business, its more of a help. this is easy to claim

Help under false pretence is punishable by law.
No matter how you shape it, he wasn't helping no body, darn it! How can you can that help. When they actually paying money for a service/product that wasn't rendered. There by making the plaintiff run unto unexpected lose through the the agony of an uncompleted transaction.
You might not know this or choose to ignore the fact that the people that gave him the money had intention of making use of it, not to invest it in ogbo, ogbo don't it to an investment without informing the plaintiff,
You do totally forgot that in the WhatsApp ogbo said a certain amount was available.
Though court matter should only be a last resort. Any jury would see ogbo guilty and he would be in for a big time.
Sir you might go on and on, I would still have a counter suit ready for him and the more he tries to deny the more trouble and money he is going to pay.
IMHO

Regards,
EF

abbeyforex:
Very wrong sir ! In Forex,its not necessary that someone must loose for another person to make profit . Nay ! The concept is very simple, Mr A bought at #10 and when price rose to #15 he decided to exit his trade. At that point in time of exit ,there are some new entrants that are ready and willing to buy at #15 for a future rise in price. If the new entrants Mr B bought at #15 for future price gain, Mr A that is exiting would have made profit for buying from #10. In a nutshell, someone don't necessarily have to loose for another person gain, though in most cases we have greater loosers than gainers and that is due to not being versatile in the real KNOWLEDGE and BEHAVIOUR of the market.

Get your fact straight, he is right, it's a zero sum game. If Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5. What's your definition of the market then?
Mind you when Mr A and B was buying it means someone was selling.

Regards,
EF

Sometimes I wonder the truth that lies behind this statements..

"95% of people lose in forex"
"Forex is a zero-sum game"

All general statements are false; think about it.

And to Mr Ogboraph, what he doesn't know is that... "A problem cannot be solved using the same level of thinking that created it. (In other words, if you screw it up, you can't fix it.)".......

Edd1e:
Sometimes I wonder the truth that lies behind this statements..

"95% of people lose in forex"
"Forex is a zero-sum game"

All general statements are false; think about it.

And to Mr Ogboraph, what he doesn't know is that... "A problem cannot be solved using the same level of thinking that created it. (In other words, if you screw it up, you can't fix it.)".......

I beg to differ.
As regarding Ogbo, I agree but that is not a solution.

Feshizzy:
Get your fact straight, he is right, it's a zero sum game. If Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5. What's your definition of the market then?
Mind you when Mr A and B was buying it means someone was selling.

Regards,
EF

I am not here to argue ,I have said what I know about the market , 9 years is no joke. But before I seal my lip for your noise to be louder, does the profit made by Mr. A from the loss of Mr. C or D. That Mr C or D entered the market at the wrong time towards the wrong side doesn't mean their loss is what Mr. A made as profit. Lips Sealed and Fingers Crossed, I am a silent follower.

Feshizzy:
Get your fact straight, he is right, it's a zero sum game. If Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5. What's your definition of the market then?
Mind you when Mr A and B was buying it means someone was selling.

Regards,
EF

in other markets like Nigeria stock exchange where there is no short selling if Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5.

you said when Mr A and B was buying it means someone was selling,,,,, abeg who is selling here



,

All these hype about who is losing at the other end is more of an emotional appeal,, just trade to win thats all...let the traders who has done his homework win.. who is suffering a loss on the other end shouldn't be of any concern.
Its just like me as an auto dealer worrying so much of the money my customer loses while buying a car from me..