75-year-old retiree awarded £398,740 after falling victim to an investment scam
How the Investment Scam Unfolded:
Derrick, a 75-year-old retiree (name changed for anonymity), feared his savings and pension wouldn’t sustain him through retirement. Seeking investment opportunities, he found a company called 7XFX and contacted a representative who helped him set up a trading account.
The opportunity appeared legitimate to Derrick due to frequent communication via email and phone, and being transferred through different departments. Unbeknownst to him, this tactic was used by scammers to appear credible.
The fraudsters scheduled calls with Derrick, discussing the investment and claiming AI would be used to generate profits. As an inexperienced investor, this seemed plausible to him. They also advised Derrick to download AnyDesk, a remote access software, allowing them to control his computer and guide him through the trading platform.
Read more: Online Scams
Derrick’s initial trades showed profits, prompting him to invest more. The scammers encouraged further investments by offering ‘credit’ or trading capital in return for deposits.
In early 2022, Derrick was told his account had suffered significant losses due to the Russian-Ukraine war. He was then asked to pay an additional 20% of his withdrawal amount as a supposed tax. Believing this would allow him to withdraw his investment, he complied. When no funds were received, Derrick sadly realized he had been scammed.
Recovering Money from an Investment Scam:
Upon realizing he had been defrauded, Derrick swiftly reported the scam to his bank, Revolut, which failed to assist in retrieving his lost funds.
Derrick then contacted Claim Solicitors, experts in fraud and scam recovery, who successfully secured £398,740 for him.
Tell Claim Solicitors:
Unfortunately, investment scams like Derrick’s are common, as fraudsters exploit their victim’s trust and lack of bank intervention.
If you or someone you know has fallen victim to an investment scam, steps can be taken to recover your money. Speak with a member of our team through support@claimsolicitors.tech.
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