Indeed, forex and cryptocurrency investment scam activities are on the rise. Every year, the Financial Conduct Authority (FCA) keeps emphasizing the risk in investing with online crypto and forex investment firms. Cryptocurrencies have become a very significant part of the assets that a bankruptcy trustee is required to deal with, and the trend is on the rise.
The Green Fields Capital saga (April, 2017) is a practical example. The bankruptcy judge Michael L. Kaplan approved to place cryptocurrency platform Green Fields Capital under the control of an outside trustee and ordered an examination of how and why the company failed. The holders, filed for bankruptcy protection after the bitcoin heist, a fallout with a former executive and a failed cryptocurrency hedging strategy drained the company’s coffers.
Judge Kaplan canceled the request after investors had raised “serious evidence” about fraud activity and money laundering and all of their cryptographic assets have been transferred by the trustee to Stainway Financials, a third-party recovery firm that will continue handling the case.
The Core Illustration
The firm made a major roll-up with millions of defrauded money. For a company that has promised so much, this was a big blow nobody was expecting in the year 2017. Though they had jilted several unsuspecting people, they packed up eventually, after a national ban. Unfortunately, many people lost their resources before the close and were begging for ways to retrieve them. Luckily for them, the asset recovery firm that would help manage this crisis was called on board by a Trustee, Carl M. Pappalardo.
The summoned firm, Stainway Financials, began gathering information on the close up from different sources. Their researches depended on a high-intelligence scheme that uncovers the truth and deals with it using capable hands. They have a team of experts that look intently into fraud issues from an empathetic viewpoint, as most of them are conversant with the effects on victims.
Why Stainway Financials?
The Trustee was particular about handing these debt issues to Stainway Financials for many reasons. One of which is their stand-out approach that has helped several victims to recover their fund. Ranked in the top 5 list of recovery firms, Stainway services span across cryptocurrency, forex and binary options asset recovery, and crisis and risk management. Usually, it takes this asset recovery firm around six (6) months to recover stolen funds. Their 87% success rate speaks volumes, with millions of dollars recovered for victims in their years of operation.
Affordable Service fee
Stainway Financials offer high-quality services at low fees, one that is rare among other top performing firms. Victims only get to make payments after asset recovery. More so, victims need not pay any consultation fee.
Asset recovery goal
The purpose of every asset recovery firm should be to recover assets as they have proposed. Stainway has been intentional in delivering these through various partnerships with legal advisors and professionals. Also, a refund policy is in place that ensures they put in efforts to meet every proposed goal. Otherwise, clients are authorised to request a two-thirds refund of all service fees at year-end. This singular policy is a boost for the firm’s credibility status.
Increasing Global Reach
Services rendered by Stainway is not in any way limited to a single locale, as it spreads to other international fraud victims. With diverse collaborations with attorneys and investigators in their affiliate countries, they are able to replicate their success in asset recovery to a wide victim-base.
Evidently, online scams are not quitting soon, and that only means one thing for assets recovery firms like Stainway Financials. It means that they have to continue improving and using their expertise to battle these anomalies. With the firm remaining focused on excellent service delivery, surely, Stainway Financials will soon be a household threat to online scammers.