We review Osmai FX – forex Ponzi scam claiming 41% per year returns

Facebook advert for Osmai FX.

Osmai FX claims to provide a “reliable alternative investment opportunity” that generates returns from Forex trading.

In a video and performance table on their website, the scheme claims to have generated 42% annual returns since 2016. It also claims to offer “medium to long-term growth with minimal risk” and “slow and steady returns”.

The scheme is currently advertising to UK investors via Facebook.

Who are Osmai?

Osmai claims to be registered in the British Virgin Islands as Osmai Management Limited. I was not able to verify this as the BVI company register is not freely searchable. In any case, basic incorporation is worthless for due diligence purposes.

Osmai claims to be run by a Hal Robb and provides a picture. There is a Hal Robb who has had a profile on quora.com for about three years, with the same picture, answering innocuous questions about his home country of Thailand and forex trading, but I’m very dubious it’s the same guy as that Hal Robb gives his company name as “East West Trading” rather than Osmai. Identity theft is a real possibility.

Osmai’s website also features a video by some schmuck who introduces himself as “Ben Hawkes” before reading out Osmai’s advert in front of a green screen. “Hawkes” does not claim a role in the company and appears to be a paid actor.

One thing that can be verified is that Osmai’s claim to have been running since 2016 is nonsense. Osmai’s Facebook page and website were registered in December 2020. There is no evidence that Osmai existed before this date.

How safe is the investment?

Osmai FX claims to offer “minimal risk” yet also claims to have generated 42% per year returns since 2016 (despite no public evidence of its existence until December 2020.)

The FTSE, i.e. the FTSE 100, actually generated 6% annual growth over the last five years. No-one other than Osmai FX uses “FTSE” on its own to mean the FTSE 250 (the tier below the FTSE).

On this point I think the real Hal Robb put it best on his Quora page: “All investments contain an element of risk. For a “stranger” or anyone else to not spell out the risk is a big red flag.”

Even if Osmai’s 42% returns were real, it would still be breaking the law .

Osmai’s Facebook adverts and website represent a financial promotion. Issuing financial promotions in the UK requires authorisation from the Financial Conduct Authority. Osmai FX is not authorised by the FCA and does not disclose registration with any other financial regulator.

The only reason for Osmai FX to promote itself illegally instead of applying for FCA authorisation is if its fantastical returns don’t exist.

As Osmai FX has no magic strategy generating returns of 42% per year, any returns to investors will either be illusory (“numbers on a screen”) or, if real money is paid into an investor’s account, this will be funded by the investors’ own money or that of others, making Osmai FX a Ponzi scheme.

In an attempt to reassure investors that it can’t steal their money, Osmai claims “you control the money, we control the trades” and that investors’ money will be held by an Australian broker, IC markets, rather than Osmai itself.

The reality is that “you control the money, we control the trades” is nonsense. Either Osmai controls your money or it doesn’t.

Even if we take Osmai’s claim that it doesn’t have the power to simply withdraw investors’ money into its bank account at face value (and given its lies about running since 2016 and criminal activity, you shouldn’t), all it has to do is use the control investors have given it over their money to buy worthless penny shares or cryptocurrencies that it has pre-purchased. Result: Osmai’s anonymous operators disappear with investors’ money and investors are left with worthless garbage.

Should I invest with Osmai FX?

This blog does not give financial advice. The following are statements of publicly available facts or widely accepted investment principles, not a personalised recommendation. Investors should consult a regulated independent financial adviser if they are in any doubt.

Any investment offering returns of 41% per year with “minimal risk” is in reality a virtually guaranteed loser for all but those running it. The mathematics of Ponzi schemes guarantees that the vast majority, if not all, of investors will lose their money.

Do not invest unless you are prepared for total losses.

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Published at Tue, 30 Mar 2021 07:00:00 +0000

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5 Comments

  1. Scammer
    We signed up with Arizona based Hal Booker, who now trades as above in your article Osmai FX Forex ponzi scheme Hal Robb East West Trading scam another defunct company. He had us sign up as well as many others for all his programs and in the end the FX broker went bust with all our money, we found out later this guy is on the move and sets up different names with other financial brokers and trades for their clients, very slippery character and we should have googled him before investing.
    He now trades for you and gives you the false sense of comfort that the money is in your own account with IC markets now. This is just as he has done before and his returns are bogus…The broker will end up swallowing up funds like they have done before. It’s rinse and repeat.
    There are multiple claims filed against him, but he just keeps moving on to the next scam or teaming up with another financial firm and trades under their name.
    Any info on whereabouts would be great.

  2. The guy changes his name from Hal Robb and used to be Hal Booker from Gilbert Arizona. We signed up with him and his buddy Roger and used a outfit called FVP forex trade and it imploded taking all our money with it. They get massive kick backs from the brokers that are all look regulated but are shady and definitely not trustworthy, you can read all about IC markets review and latest scam as they are not FCA regulated, be careful Mr Hal and his cronies have been at this a long time.
    if you google his names you will see he has been featured on numerous government and non government fraud financial sites for a long time, going back years and from the reviews he is at Palm springs Chang Mai Thailand. Thanks to Filth Finder for their reviews to expose..

    Scam watchers USA
    Valforex
    Cyberscam review
    Forex factory Scam
    Bond review forex scam
    and many others.

  3. This scarecrow wimp scammer needs shutting down permanently
    thanks for all information on above sites.

  4. Hi Mo,

    I am pretty sure people on the profile link below are Hal Rob’s crew. You can track them from the Dj’s events in Chiang Mai. The Dj is the customer director of Osamai. The new scammer channel.

    Hal Rob: hal.robb
    Ben Hawkes ben.hawkes.735

    The Dj Social Media profiles
    profile.php?id=1414131146
    Hattronix
    scottyhattronix
    scott-hattrell-25131a43/

    His Thai DJ girlfriend’s social media profile
    marchiesaeyami

    More info
    https://www.bondreview.co.uk/2021/03/30/we-review-osmai-fx-forex-ponzi-scam-claiming-41-per-year-returns/#comment-209910

    https://www.valforex.com/rob-booker-review-is-robbooker-com-scam/#comment-136717

    You can also report here in Thailand ( Department of special investigation (DSI) like the FBI)
    https://register.dsi.go.th/

    I hope this info will help to track them down.

  5. Matt Thank you for posting the above info, and I hope you don’t mind me copy and pasting this to Bondreview..
    Operating scams in Thailand would be a serious offence and I am sure it would be of interest for them to investigate just to get their tax money….. what a lying scam operation of peoples hard earned money.

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