Global Trade Insurance (GTI) & Peter Gerald aka pit_gerald000 are a fraud & scam

binarynewbiebinarynewbie Posts: 4
Has anyone been approached by Peter Gerald or Peter Geraldine (PG) from Global Trade Insurance (GTI)? I was approached by him under his username "pit_gerald000" in this forum. We exchanged messages & somehow he earned my trust, managed to convince me to join his so-called auto trading program by GTI.

Please stay away from PG or GTI. They're a fraud & scam.

They'll ask you to open an account with GTI & deposit a minimum $250 via Western Union (WU), Moneygram (MG) or Perfect Money (PM) (1st red flag) & connection fee of $350 ($600 in total for 1st deposit). The following week they'll inform you that you've made some $1,800 trading profits. This is where the scam starts. They'll then tell you that they can't auto trade for you as their auto trade software can only start trading with a min amt of $5k. They'll ask you to upgrade to a gold account. Again, you'll need to pay via WU, MG or PM. When asked why via WU, MG or PM, their answers seemed to make sense at that point of time. The following week, they email/announced your trading profit is abt $31+. You put a request to withdraw your trading profits. They'll tell you can't as you'll need to buy GTI Trading Insurance worth $10k. Again, on their website (http://www.glbtradeinsurance.com/en/, which was only created in Feb 2017), which is not a secured website (another red flag), they gave all the necessary rationale/justification for such trading insurance. You wanted to withdraw your money very badly. So you pay for it. Again via WU, MG or PM. Following week, they email/announced your trading profit was $145k. Truly unbelievable. You still can't withdraw your money. Following week, your profit was $392k. Wow! Here comes the bombshell. Now they told you they'd problems processing your withdrawal & couldn't process it because you didn't have an Individual Taxpayer Identification Number (ITIN). And, you must 1st pay 10% tax ($57k+, ie 10% on $575k+) on the balance in your trading account before they were able to process & approve your withdrawal & transfer the funds into your account. In all these communique, PG was playing very active role, convincing & persuading you. So, I strongly believe, PG is part of the GTI team. Another person involved I believe was Walter Lohr who will try to convince you on the tax issues & requirements & why you must pay GTI the 10% tax in order for GTI to release the payment to you. They'll consistently bugged & persuaded you for the payment. You told them you didn't have that kind of money, wanted to stop trading. You asked for a refund, ie your trading deposits, trading insurance & connection fee. You email them numerous times. And, they just kept quiet & went missing.

So, there you go. I lost $15,600 with GTI and/or PG. They're a real fraud & scammer! Please block & ban this PG guy from this forum before he sweet talk & scam another person.
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Comments

  • OkaneOkane Posts: 995 admin
    Sorry but I never understood how people can be so naive...
    This is the most typical scam. Everywhere you go someone wants you to email them. You should have consulted an admin when you were approached and we could tell you without even looking that it was a scam and ban the guy. I just had him banned over at BinaryOptionsthatsuck and banned him here too but these people create new accounts on forums on a daily basis you beginners just have to learn not to talk to them.
    And autotraders, we have already warned in the forum 1000 times, autotraders are all scams.

    But thanks for sharing, maybe it will save some one else. If they can make money out of thin air, why do they need your money. Why bother sneak PM'ing people in forums. The reason they must PM you is because if they share it here everyone knows it's a scam but if they PM it might not get exposed as fast.
  • binarynewbiebinarynewbie Posts: 4
    i was so naive. i let my guard down. yes, i just saw that you banned pg. i raised the red flag the 1st instance when they asked me to pay thru western union. but that was history now. caveat emptor.
  • OkaneOkane Posts: 995 admin

    i was so naive. i let my guard down. yes, i just saw that you banned pg. i raised the red flag the 1st instance when they asked me to pay thru western union. but that was history now. caveat emptor.

    Yeah. So long as there is a demand for "easy no-sweat-money set it and forget it" from people, these people will pop up with new plans.
  • VegasTraderVegasTrader Posts: 6
    WOW!!!! So here is a new one? ( Or old one as you already been through it) ....I got an email from a guy that goes by David Crews....same thing!!! Join GTI blah blah blah..... No I haven't dropped a $1 but geez those people can talk sweetness!!!!! Thank you for your story.....wow, unbelievable!!!!
  • OkaneOkane Posts: 995 admin

    WOW!!!! So here is a new one? ( Or old one as you already been through it) ....I got an email from a guy that goes by David Crews....same thing!!! Join GTI blah blah blah..... No I haven't dropped a $1 but geez those people can talk sweetness!!!!! Thank you for your story.....wow, unbelievable!!!!

    There is always "a new one". A new scam, a new fake offer that's gonna make you rich with no effort.
    If anyone is getting solicited through PM here in the forum, just let us moderators know so we can ban them. Thanks!
    Provide their nicknames, thanks.
  • MBLMBL Posts: 1
    I have been approached by Global Trader Insurance who claim they can get my money back from fraudulent Binary Options Companies - They "found" that they could re-imburse me $180k but first I had to pay them $3k - I also had the same call from Secured Trade Investment but they wanted a $7k payment for $154 refund - now I have an email from RTG Direct trading asking for $6,759.99 USD to refund $179 - is this the latest scam hitting the internet - scams taking advantage of vulnerable people who have already lost big time? Does any one know about these companies?
  • OkaneOkane Posts: 995 admin
    MBL said:

    I have been approached by Global Trader Insurance who claim they can get my money back from fraudulent Binary Options Companies - They "found" that they could re-imburse me $180k but first I had to pay them $3k - I also had the same call from Secured Trade Investment but they wanted a $7k payment for $154 refund - now I have an email from RTG Direct trading asking for $6,759.99 USD to refund $179 - is this the latest scam hitting the internet - scams taking advantage of vulnerable people who have already lost big time? Does any one know about these companies?

    You should be careful which company you use for chargebacks. There are some with good reputation and as always there are scammers too.
  • machoman68machoman68 Posts: 1
    HEY MBL I just got contacted by Global Trader Insurance also telling me that I have $57000.00 in an escrow account too and I need to send $2500.00 to unlock this account. I am just wondering what your experience was about them did you send them the money? I have to give it to them out of the 5 different scammers that have contacted me, these guys seem to be the most believable. They even have their own website. Just wondering if you indeed determined for 100% if it is a scam? Thanks
  • OkaneOkane Posts: 995 admin

    HEY MBL I just got contacted by Global Trader Insurance also telling me that I have $57000.00 in an escrow account too and I need to send $2500.00 to unlock this account. I am just wondering what your experience was about them did you send them the money? I have to give it to them out of the 5 different scammers that have contacted me, these guys seem to be the most believable. They even have their own website. Just wondering if you indeed determined for 100% if it is a scam? Thanks

    It's 100% a scam. If they want you to send them money to give you money lol... it's BS.
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