fraud

[backwash]

Alabama, But I live in Panama Central America
I want my money back
fraud
Hello, I invested money into a stockbroker. I was told over and over again by the broker that I need to withdraw all of my profits. I withdrew all of my profit and was told that it would take 1-3 days to process, I received an e-mail from them telling me that before the process could complete I had to pay thousands of dollars in taxes to a bitcoin wallet. They will not release my money until I send them all that money to an IRS bitcoin wallet, the IRS doesn't accept bitcoin as payment on taxes. I was told by the broker it was taxed But I was told by my mentor the guy helping me learn how to trade it was an ROI return on investment, I want my money and I will pay my own taxes. I don't know who to believe without them giving me my profits I can't pay anything and I'm not going to trust someone else that I don't know to pay my taxes. I told this to several people and they all say it's a scam. sincerely

 

[quincy]

Alabama, But I live in Panama Central America
I want my money back
fraud
Hello, I invested money into a stockbroker. I was told over and over again by the broker that I need to withdraw all of my profits. I withdrew all of my profit and was told that it would take 1-3 days to process, I received an e-mail from them telling me that before the process could complete I had to pay thousands of dollars in taxes to a bitcoin wallet. They will not release my money until I send them all that money to an IRS bitcoin wallet, the IRS doesn't accept bitcoin as payment on taxes. I was told by the broker it was taxed But I was told by my mentor the guy helping me learn how to trade it was an ROI return on investment, I want my money and I will pay my own taxes. I don't know who to believe without them giving me my profits I can't pay anything and I'm not going to trust someone else that I don't know to pay my taxes. I told this to several people and they all say it's a scam. sincerely

What you describe sounds like a scam.

 

[Zigner]

Alabama, But I live in Panama Central America
I want my money back
fraud
Hello, I invested money into a stockbroker. I was told over and over again by the broker that I need to withdraw all of my profits. I withdrew all of my profit and was told that it would take 1-3 days to process, I received an e-mail from them telling me that before the process could complete I had to pay thousands of dollars in taxes to a bitcoin wallet. They will not release my money until I send them all that money to an IRS bitcoin wallet, the IRS doesn't accept bitcoin as payment on taxes. I was told by the broker it was taxed But I was told by my mentor the guy helping me learn how to trade it was an ROI return on investment, I want my money and I will pay my own taxes. I don't know who to believe without them giving me my profits I can't pay anything and I'm not going to trust someone else that I don't know to pay my taxes. I told this to several people and they all say it's a scam. sincerely

I agree with Quincy. You were scammed.

 

[LdiJ]

Ditto what has already been said. It sounds like you were scammed.

 

[Mass_Shyster]

I cannot think of any legitimate business that requires you to pay money to retrieve your money. Generally, they all withhold some from what they're paying you.

Stockbrokers in the US are licensed. I suspect this guy is not.

Sorry, but I believe you were scammed out of whatever you "invested" and they're trying to get more from you.

 

[zddoodah]

I invested money into a stockbroker.

Is the stockbroker in Alabama? If so, how did you, a person in Panama, come to do business with a stockbroker in Alabama?

Your post doesn't contain a question, so I'm not sure what the purpose of your post is, but I'll agree that you seem to have been the victim of a scam. How much money are you out?

 

[davew9128]

Is it too late to ask for retail gift cards?

 

[backwash]

Is the stockbroker in Alabama? If so, how did you, a person in Panama, come to do business with a stockbroker in Alabama?

Your post doesn't contain a question, so I'm not sure what the purpose of your post is, but I'll agree that you seem to have been the victim of a scam. How much money are you out?

No the stockbroker isn't in Alabama they're in Utah I'm from Alabama but I live in Panama, I can invest in both US and international brokers.

 

[backwash]

Is it too late to ask for retail gift cards?

What do you mean by your statement?

 

[backwash]

I agree with Quincy. You were scammed.

That's what I thought I was doing here asking a lawyer. But got on here instead. I am aware that it's a scam wanted to ask a lawyer is why I joined this site.

 

[Taxing Matters]

I don't know who to believe without them giving me my profits I can't pay anything and I'm not going to trust someone else that I don't know to pay my taxes. I told this to several people and they all say it's a scam. sincerely

Well, given that this guy who claims to be a broker is telling you that taxes have to be paid in Bitcoin when the IRS does not accept Bitcoin he's obviously lied to you, which certainly raises trust issues and suggests that this may be a scam. Indeed, one of the popular uses of Bitcoin is by criminals because Bitcoin can be untraceable. That's one of the reasons governments are not keen on Bitcoin.

Moreover, while a lot of U.S. source income paid to foreign persons is subject to tax withholding by the U.S. person making the payment, most capital gain income (other than gains from the sale of real estate and a few other things) is not subject to tax withholding. Tax withholding means that the person making the payment to you sets aside a portion of it to send to the IRS or state government as a credit towards the tax you may owe on the income. The key thing here is that they take the withholding out of the money they send to you, e.g. if your total payment was $100 the person paying it would withhold the applicable withholding amount, say $30, and then send you the other $70. You would never have to send them money for the tax withholding. And as I said, with most capital gain income, like the gain from investments, no withholding is required at all. So telling you that you needed to send any money at all to them for the taxes was clearly a lie and almost certainly fraud.

Of course, the issue for you is what to do to get your money if he doesn't send it to you. There are two basic ways to pursue that and you can do both. First is to report him to U.S. law enforcement. Being a stockbroker in the U.S. is a highly regulated activity and the broker must be registered with the Securities and Exchange Commission (SEC) and follow specific rules. You may file a complaint with the SEC and SEC enforcement actions might get you some or all of your money back. You may also make a complaint with the local police of whatever city/county the guy is located.

Second, you may file a lawsuit against him to recover your money. You may need to hire a lawyer in the U.S. to do that and to travel to the U.S. to testify in depositions and trial, etc. So it will cost you some money to do that. However, if you can prove fraud you might get extra damages. Whether it's worth it to sue depends in part on just how much money is involved. You can consult a lawyer in the state where the guy is located about that.

 

[Zigner]

No the stockbroker isn't in Alabama they're in Utah ...

I'd be willing to be that that's not true either.