Ideali
Fraud and Cheating

Hi all,

This is to keep everyone informed of the cheating and misappropriation of funds done by this firm, through their website www.ideali.in that claims to provide trading tips on profit / loss sharing option.

Since I lost my job in November I got into trading commodities.

I was approached by Mr. Raj (09328122212/ 09824520606-currently using), from the company called Ideali, located in Ahmedabad. I was informed that they have a service for commodity tips, based on a profit / loss sharing option.

Being a little hesitant and reluctant in going in for this paid service, I took some time for making a decision As a result, THEY KEPT CONTINUALLY FOLLOWING UP WITH ME AND PESTERING ME THROUGH SMS. Mr. Bharg Shah (09376333339) who claimed to be the manager of this firm, also smsed me enquiring when I would join their service. I have all these sms saved with me as evidence.

Given the continuous follow ups, I finally subscribed to their service, by transferring funds of Rs.7000 to their account (Moneyfield Traders - Acct no. 03062000004772 - HDFC S.G.Road Branch, Ahmedabad). As per the service, I would get confirmed tips from them, and if I made profit / losses, it would be 50% sharing. MOUs for this service are also available on their website, copies of which are also available with me, as evidence.

It was promised that as soon as I transferred the funds, would get the agreement papers drawn between me and ideali, NOW INSPITE OF CONTUNUOUS FOLLOW UPS FROM MY END, I didnt receive any of these promised agreement documents. In the meanwhile, based on the tips from Raj, I made bad losses and my entire margin amount got wiped out. All those days, when I was holding my positions, I CONTINUALLY KEPT CALLING UP THE IDEALI GUYS POINTING OUT THE EVERY INCREASING LOSS. But kept getting assurances to not worry and keep holding on to my positions. Again I have evidences of these losses in the form of my account statement received from my broker.

When I later contacted ideali, to understand how the losses would be shared, was informed that Raj has left and Mr. Bharg Shah promised to transfer me the funds due to me. But AGAIN INSPITE OF CONTINUOUS FOLLOW UPS FROM MY END, the same did not happen. I was just provided vague dates like this weekend, coming monday, etc. funds will be transferred. Then after around 6-7 such false promises, Mr. Bharg told me to speak with Mr. Raj and gave me his new number.

NOW YET ONCE AGAIN HAD TO START CONTINUOUSLY FOLLOWING UP WITH Mr. Raj told me that he will handle my losses and ever since has only been giving me different dates for the same. And has finally vanished.

It is evident now, that these guys are cheating me and have no intention of refunding the amount due to me. I have had to keep calling these guys over STD calls and begging for my own money. Have sent email to the mumbai police cybercell, asking how to proceed in such a situation and am awaiting response. Since I am out of a job and these losses have hit me hard, I am looking at any advice I can get to recover my money.

Thanks and regards,

Francis Fernandes

9323298616 / 9594095930

Company: Ideali
Country: India
State: Maharashtra
City: Mumbai City

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