Having read through all the thread in this forum, it's apparent that CWM FX & the people at the top of this company were full of broken promises. Let me share with you my views/insight to CWM.....
CWM & CWM FX along with its other subsidiary companies were just one big scam. The people that ran the business & the people that were employed were professionally unqualified to perform their roles; for example, you had a young woman in Sarah Tien who had just finished University as the Finance Director with no experience. Sarah had previously worked as a fx broker where majority of the CWM staff were recruited from. It was this same company where AC (CEO of CWM) along with Craig Droste all worked as brokers; Craig Droste being senior to both Sarah & AC as a Team Leader. Naturally, when AC left this company, he looked to recruit the staff for his newly formed company of which a majority had followed.
Daisy Thompson was appointed as HR Director, again, like Sarah Tien, no experience as a HR Director. However, like Sarah, she was paid a decent package - well above the norm. You would think for two key positions in the company, a formal structure & understanding of how a corporate company operates; CWM would have ran like clock work; in fact it was like a mad house!
The front of house company CWM FX was regulated by Leverate through the FX Brokerage platform which I don't believe it made the kind of profits AC & Co talked about.
The main business that supported the flush office at Heron Tower along with the sponsorships came from the managed accounts (completely unregulated) which offered clients 5% ROI per month. Whilst a lot of you have been informed that this is impossible, I can assure you that for anyone that has traded the stock market; this is very much possible, however, CWM did not have the correct infrastructure or the traders in place. More importantly, AC, Kelvin Mercer, Paul Zaki, Harry Mercer to name a few did not understand the trading world fully.
I did not believe that they were actually trading the amount of money that had been invested by the clients as when I requested to see the trading room, I was denied. I also requested a prospectus on their trading history and this evidence was not forth coming. I was advised that their head trader was Jimmy Londos & along side him was other traders including Adam Harris.
You would expect investment banks to be protective of their traders but CWM were very protective of their trader(s) & more importantly when AC, Kelvin, Harry or Paul would present, they didn't have a clue about trading. They were merely sales people.
As some of you have eluded to already, Kelvin, Harry & Paul were all Directors of Capitas Fora; this is the company that was used to pay all of clients ROI as instructed by AC until a formal solution was put in place - of course this never happened.
Kelvin, Harry & Paul had previously worked together & during that time have come across connections which later either became their clients/introducer's to this new venture via CWM.
AC on the other hand, whilst he has always been in the public eye through the unfortunate loss of his father, he claims to be a successful businessman. As I have already mentioned, he began as a fx broker (sales man on the telephone calling clients) but having sat through a number of his presentation with clients at CWM, it became apparent that he did not have a clue about trading whatsoever. Like his colleagues, he is nothing but a salesman!
Without going into the inner details of the raid; AC & Co had promised to make sure that all clients funds were in tact and would be returned, 5 months later, it's he same old story and rubbish that we are all still being fed!
They claim that they have the best lawyers and association to put this matter to bed but in reality, they have ran out of resource to fund a defence.
The sad part of this all is that they have made promises & people have taken their words & they have abused clients trust.
I understand there is a class action going on, I would be more than happy to support you on this along with providing you all the information you need from the beginning and to where things are now. I have enough evidence to help put these idiots behind bars & hopefully help get the clients funds back.
