Yes, typical and well-planned, legally covered Ponzi scheme, unless authorities can prove a collusion between 3TG and Pefecto.
Somewhere I read that they have walked away with $6 Million investor funds, as probably all trade results were handcrafted by 3TG broker for Perfecto, which two companies have most likely the same owner through multiple off-shore entities. In other words no single real trade has ever taken place, they simply collected and spent all clients' funds, then at the end created a 'black swan' event to justify the disappearance of all funds.
The conclusion: Never ever join any investment sceheme which is tied to ONE broker only, especially if that broker is licenced in a poorly regulated country, like New Zealand, where brokers can simply close shop and walk away with all clients funds without any concequences.
Jjust look up the case of Capital Trust Markets on ForexPeaceArmy, which is another similar story of a crooked Canadian broker masterminded by Reza (F***ing) Mokhtarian, who had simply walked away with $500k+ client funds (incl. mine) and neither the NZ, not the Canadian authorities have done anything about it so far.
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