Aussie woman shares eerie encounter with scammer after losing millions of dollars
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Disclaimer: The names in asterisks (*) were changed for privacy purposes.
Holiday trips should be a time for relaxation and recreation.
However, a woman's recent experience during a trip abroad brought flashbacks during a 'shameful' period.
This harrowing story should remind everyone of the sophisticated and heartless tactics scammers use to prey on unsuspecting victims.
Melbourne local Roxy* lost a staggering $1.9 million to scammers under the guise of an online trading platform.
Roxy's ordeal began with an innocent text message from a man named Wei Chen, who claimed to have been introduced to her through her business clients.
Wei Chen portrayed himself as a successful businessman living in Sydney and invested his fortune in an online trading platform called SpreadEx.
While SpreadEx was an actual United Kingdom-based financial trading company, Wei Chen introduced a fraudulent version to Roxy.
The fraud website uses the domain spreadexs.com, with an extra 's' to deceive their victims.
Convinced by Wei Chen's narrative, Roxy invested $300,000 of her savings into the platform.
As the scam deepened its hooks, she borrowed an additional $450,000 from friends and redrew on her mortgage.
She also encouraged her friends to invest, unknowingly drawing them into the scam.
The transactions were wired to newly made Australian business accounts.
The directors of these accounts hailed from various locations like Malaysia and Hong Kong but were using local residential addresses.
These individuals were suspected of being money mules and were part of a more extensive network designed to launder stolen funds.
Victoria Police are still investigating Roxy's case, but no charges have been laid.
The devastating impact of the scam became fully apparent when Roxy, while on holiday in China, was instructed by the scammers to hand over cash in person.
In a scene straight out of a thriller movie, she and a friend met a man in a desolate location and handed over 500,000 yuan ($198,000).
Upon her return to Australia, Roxy's nightmare worsened.
Her trading account got suspended, and she faced $442,000 in penalties for allowing someone else to manage her account.
Her last communication with Wei Chen was in April, nearly a year after the scam.
Now, Roxy and her husband are forced to work into their retirement years, all while repaying the borrowed money and the mortgage.
The shame and financial burden after the scam left them with a future they never imagined.
This cautionary tale should be a grim reminder that scammers are constantly evolving, all to exploit innocent Aussies and their money.
Always stay vigilant and sceptical about unsolicited investment opportunities.
Always verify the legitimacy of a company through independent research and be wary of anyone asking for money transfers or personal financial information.
If a scam has targeted you, act quickly.
Contact your bank to stop any transactions immediately and report the incident to the authorities, including Scamwatch.
By sharing stories like Roxy's, we can prevent others from falling prey to similar scams.
Have you or someone you know encountered a scam similar to Roxy's experience? Share your experiences in the comments below, and help educate and protect our community from scheming cyber criminals.
Holiday trips should be a time for relaxation and recreation.
However, a woman's recent experience during a trip abroad brought flashbacks during a 'shameful' period.
This harrowing story should remind everyone of the sophisticated and heartless tactics scammers use to prey on unsuspecting victims.
Melbourne local Roxy* lost a staggering $1.9 million to scammers under the guise of an online trading platform.
Roxy's ordeal began with an innocent text message from a man named Wei Chen, who claimed to have been introduced to her through her business clients.
Wei Chen portrayed himself as a successful businessman living in Sydney and invested his fortune in an online trading platform called SpreadEx.
Roxy* invested her entire savings in a fraudulent platform mimicking a legitimate trading website. Image Credit: Pexels/Cottonbro Studio
While SpreadEx was an actual United Kingdom-based financial trading company, Wei Chen introduced a fraudulent version to Roxy.
The fraud website uses the domain spreadexs.com, with an extra 's' to deceive their victims.
Convinced by Wei Chen's narrative, Roxy invested $300,000 of her savings into the platform.
As the scam deepened its hooks, she borrowed an additional $450,000 from friends and redrew on her mortgage.
She also encouraged her friends to invest, unknowingly drawing them into the scam.
The transactions were wired to newly made Australian business accounts.
The directors of these accounts hailed from various locations like Malaysia and Hong Kong but were using local residential addresses.
These individuals were suspected of being money mules and were part of a more extensive network designed to launder stolen funds.
Victoria Police are still investigating Roxy's case, but no charges have been laid.
The devastating impact of the scam became fully apparent when Roxy, while on holiday in China, was instructed by the scammers to hand over cash in person.
In a scene straight out of a thriller movie, she and a friend met a man in a desolate location and handed over 500,000 yuan ($198,000).
Upon her return to Australia, Roxy's nightmare worsened.
Her trading account got suspended, and she faced $442,000 in penalties for allowing someone else to manage her account.
Her last communication with Wei Chen was in April, nearly a year after the scam.
Now, Roxy and her husband are forced to work into their retirement years, all while repaying the borrowed money and the mortgage.
The shame and financial burden after the scam left them with a future they never imagined.
This cautionary tale should be a grim reminder that scammers are constantly evolving, all to exploit innocent Aussies and their money.
Always stay vigilant and sceptical about unsolicited investment opportunities.
Always verify the legitimacy of a company through independent research and be wary of anyone asking for money transfers or personal financial information.
If a scam has targeted you, act quickly.
Contact your bank to stop any transactions immediately and report the incident to the authorities, including Scamwatch.
By sharing stories like Roxy's, we can prevent others from falling prey to similar scams.
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She had more than enough to live on and enjoy holidays to boot. Greed just messed with her common sense. No sympathy from me
