IFW Global has received complaints from concerned investors about a fake investment firm called Horizon Capital Management PLC who cloned a legitimate Swiss firm called Horizon Capital Asset Management. The details of the Swiss firm were used in the fraud to satisfy due diligence enquiries and to convince victims of the legitimacy of the scam firm.

The websites used by the scam firm, Horizon Capital Management PLC, were www.horizoncapitalinc.com and www.horizoncapitalplc.com.

How It Works

“Boiler room” scams are usually carried out by transnational fraud groups using fake names and technologies to mask their real identities and locations, whilst purporting to be experienced brokers for a premium investment firm.

The scammers will often work through a prospecting list, which may have been purchased from another scam, and “cold call” to offer trading tips on securities, shares and IPOs and to gain investor confidence. The phone call is then followed up by emails if the prospective client is receptive.

It is common for the scams to launder funds through on-shore accounts and grant some small withdrawal requests to gain the confidence of their victims and to make the scam appear legitimate. However, any large withdrawal requests are ignored, or are subject to additional payments under the guise of “fees” (e.g. exit or escrow) or “taxes”. These pretexts are an attempt to extract more money from their victim. In every case, the client is never able to access their money.

Red flags

• Horizon Capital Management PLC lists the legitimate firms address on the fake website however the phone number is different and is a VOIP service not linked to the real address.
• Horizon Capital Management PLC does not operate under a financial services regulator and may be offering services unlawfully. The fake website claims that the principle place of business is the State of Illinois (USA), however the address of the fake firm is purported to be in Geneva, Switzerland. The use of an Illinois company may be another attempt to clone the details of a legitimate firm.
• Lack of identity information about the owners, operators, staff etc. and all domain registration details are obscured by a privacy service.

You may have been directed to make credit card or bank transfers to entities and/or accounts that are not in the name of Horizon Capital Management and appear unrelated to the firm. These entities and accounts may also be in countries that are not where the firm purports to operate from.

Reported money-laundering bank accounts

Beneficiary name: A.P LIMITED
Account No.: 123-610 23216182
Bank name: Bank of Queensland

Beneficiary name: Apexx Consulting Pty Ltd
Account No.: 802-985 317639165
Bank name: Cuscal Limited

Beneficiary name: Asoke Collaboration Pty Ltd
Account No.: 062-692 44318797
Bank name: Commonwealth Bank of Australia

Beneficiary name: TravelWise
Account No.: 802-985 218631972
Bank name: Cuscal Limited

Beneficiary name: Tranaferwise
Account No.: 802-985 319643090
Bank name: Cuscal Limited

Beneficiary name: Oz Forex Pty Ltd
Account No.: 082-053 553917310
Bank name: National Australia Bank

Beneficiary name: Financial consultant, 19 Brynywern Street, Wrexham, UK, LL113SL
Sort Code: 608371
Account No.: 84322691
Bank name: Starling Bank Limited, London

Beneficiary name: IDS Holdings Pty Ltd
Account No.: 083-004 296978453
Bank name: National Australia Bank

Beneficiary name: Johns Financial
Sort Code: 608371
Account No.: 84322691
Bank name: Starling Bank Limited, London

Beneficiary name: Johns Financial Consultants
Account No.: GB49 SRLG 608371 84322691
Bank name: Starling Bank Limited, London

Beneficiary name: Oak Payment Pty Ltd
Account No.: 939-200 826796237
Bank name: AMP Bank Limited

Next Steps

If you are a victim of this fraud:

• Immediately report your fraud to the Police or via your Government fraud reporting portal (for example: Australia www.cyber.gov.au, USA www.ic3.gov, UK www.actionfraud.police.uk, Canada www.antifraudcentre.ca)
• Do not send the fraudsters any more money. Any request for payment of a “tax” or “fee” is their last ditch attempt to get more money from you.
• Do not let the fraudsters gain remote access to your computer. Fraudsters will often offer to “assist” you by asking you to install AnyDesk or TeamViewer to remotely control your computer mouse and keyboard.
• Submit an Investment Fraud enquiry to IFW Global to discuss your fraud and find out what can be done to investigate and recover your stolen money.

IFW Global Investigations is a private intelligence and investigations firm that represents investors who believe they have been scammed or duped into fraudulent investment schemes. We are strictly vetted by the NSW Police Force in Australia and the State of Florida in the USA, and you can view and verify our investigator licences at https://www.ifwglobal.com/about/credentials