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Goran Gacic • 3 years ago

AGAM/ FWAM offer “suitcases” or complete “portfolios” via the websites www. atlanticgam. es and www. fivewindsam .com and via a network of agents, some of which are domiciled in Germany. They claim that their investors share in the performance of these products. A clear investment strategy is not evident. The investors themselves do not make any decisions as to which financial instruments their money is invested in. Atlantic Global Asset Management and Five Winds Asset Management therefore engage in investment management activities within the meaning of section 1 (1a) sentence 1 no. 11 of the German Banking Act (Kreditwesengesetz – KWG). However, they do not hold the authorisation required under section 32 (1) of the KWG. They are therefore conducting unauthorised business

News Online Income • 3 years ago

Goran Gacic
Thanks for this update.

Eugenia • 3 years ago

The Federal Financial Supervisory Authority (BaFin), the German financial regulator that ensures the proper functioning, stability and integrity of the German financial system, has issued an announcement to inform investors and public for the prohibition of investment management activities of two firms.

In accordance the announcement, with notice of 21 August 2018, BaFin ordered Atlantic Global Asset Management (AGAM) and Five Winds Asset Management, Cape Verde, to cease their investment management activities immediately.

News Online Income • 3 years ago

Eugenia
Thanks for this update.

Eugenia • 3 years ago

What I do know so far is that affiliates for the company will be asked to make an investment in order to earn an ROI. Details on how much is required to be invested and the following payout isn’t mentioned, but what is clear is that funds covering these ROIs likely all come from other affiliate investments. In other words, newly invested funds are being recycled to pay ROIs owed to other members. Because of this, Five Winds is operating as a Ponzi scheme.

News Online Income • 3 years ago

Yes and Ponzi scheme is an illegal scheme. That's why we don't recommend Five Winds. Completely agree with you.

Lea Innez • 3 years ago

The Russian police stopped the illegal activities of the financial pyramid in the city Kazan. Three offices of the AGAM were closed. Employees of the Department of Economic Security and Anti-Corruption found out that from May 2017 a financial organization functioned, which promised its investors fabulous profits - from 100 to 200 percent per annum. Another nice bonus was the payment for each "newly converted" promising 5-15% of the deposit. The whole article is here: https://news.mail.ru/incide... (Google translator helps)

Lea Innez • 3 years ago

The same story for Kazakhstan. KAZINFORM - Kostanay police have been searching for swindlers who have been fraudulent, representing themselves as employees of Five Winds Asset Management, Kazinform refers to the press service of Kostanay region's Internal Affairs Department. "From February 1, 2017 to May 30, 2018, in the Kostanay Department of Internal Affairs, there are about 20 cases of victims of the suspect's actions. The sum is more than 20 million tenge ", - said the representative of the Department of Internal Affairs. In regards to this fact, the pre-trial investigation is underway under Article 190, Part 2 (Fraud) of the Criminal Code of the RoK. (the full article, https://www.inform.kz/kz/po... )

News Online Income • 3 years ago

Dear Lea,
Thanks for providing this update :)

News Online Income • 3 years ago

Lea Innez That's a great news. Thanks for sharing.

Madina • 3 years ago

Is there a way for me to take my mom's money out somehow? It seems impossible from her dashboard... Thanks!

News Online Income • 3 years ago

Dear Madina,
If her dashboard looks like impossible to take out money, then that is the way this company wants her dashboard to be. This is the reason why we don't recommend companies like FiveWindsAM.

Elinor Karlsson • 3 years ago

As my Questra's director (8th level) said, which is now in this project, the company is from Pestyuk and Prochukhan. And it's as if everyone knows. This HAYP is likely to stretch for year or so. But to my question to jump in now or not, he advised it's better not to do it anymore. So it's up to you, risk if you're lucky but you've been warned!

News Online Income • 3 years ago

Dear Elinor,
It's always better not to involve with companies like Five Winds Asset Management from starting. It's not only about taking a risk, it's also about supporting illegal schemes.

Lea Innez • 3 years ago

Absolutely! Only 1% of the first "investors" gets something in the first 2-6 months, the rest of 99% who came later loses it all.

Eugenia • 3 years ago

The news said the police in Russia recently has also closed the FWAM offices in the city of Kazan, the FWAM activities investigation has been started. It looks like FWAM has been losing the CIS markets)))

News Online Income • 3 years ago

Eugenia Russian police did good by closing down FWAM. Good News.

News Online Income • 3 years ago

Lea Innez You are absolutely right.

Heljä Laakso • 4 years ago

Hello! Just wondering if someone can withdrawl profits. We have been waiting for half an year here in Finland

News Online Income • 3 years ago

Dear Heljä,
It's better to avoid companies like Five Winds AM.

Mohd Aktar • 4 years ago

They need to have new people to pay the profits of course

News Online Income • 4 years ago

haha, yep, that is true. And when FiveWindsAM also starts to create a debt, may be they will open another one. But one day either they will be completely collapsed or will be sized by government authorities and many members will lose money.