Hi there. I have bought shares with (PRIAMA) in Aug 2017 for the first time. I got involved with them based on a cold call that was made and as naïve as I was back then, I thought this is my break to make money on the side. Everything went well until I asked to repatriate some of the money a year later. Needless to say, I still don’t have one sent back as of 21 Nov 2024.
I have paid countless compliance request from alleged international financial regulators.
Anti-Money Laundering Certificate (AML), Personal Identity Clearance Certificate (PICC), International Fraud Prevention (IFP Cert), Combating the Financing of Terrorism Compliance (CFT Statement). I also had to pay for an Indemnity Insurance that the Peoples Bank of China requested. Just after the Indemnity insurance was in place, the China Banking Regulatory Commission (CBRC) called for a Tax audit. PRIAME then claimed from the Insurance, but the insurance company pulled out an exclusion clause, because the tax audit request had a financial risk attached to it. I had to pay a collateral/bond for the insurance to pay out. A transfer agent in Switzerland apparently picked up the repatriation, but then FINMA started with compliance requests (the previously mentioned, IFP, CFT) and to top that, the Swiss National Bank then requested ‘Stamp of Approval’, which was a flat collateral fee or USD25,000-00. UBS Bank in Switzerland provided me with a ‘Cover of Payment Obligation’ and apparently settled the SNB request, but then requested an ‘International Processing Fee (IPF).
At this stage I refused to pay that and the PRIAMA indicated that they can cancel the repatriation, route the money to their bank in Singapore (OCBC). This happened and my account had to be audited by an external 3rd party auditor. 8 weeks later, PRIAMA called me and said the audit came back clear and that they will restart the repatriation. Next moment they told me that the money is now with J.P. Morgan in the USA, but the Federal Reserve Bank is requesting an IPF as a collateral before they will pay the money out to me, with a backing ‘Cover of Payment Obligation’.
I’m basically bankrupt and don’t have the money to pay for another compliance request.
To date, I cannot verify if PRIAMA is real, if these compliance requests are real.
Did anyone have dealings with PRIAMA before? Are they real and legit?
How do I verify these compliance requests? I just get told by PRIAMA that they can’t provide anything in writing due the Chinese data privacy laws. I’m lost and broke and need some advice.