I sarted investing with YOKAM in 2019 and want to withdraw funds but they want IPF (intermediary processing fee) upfront.
Are they registered? Yang, Odell and Kostner asset management.
Hey there,
Thanks for your message. I’ve looked into Yang, Odell, and Kostner Asset Management (YOKAM) and it appears to be associated with numerous scam reports and complaints from various individuals.
YOKAM is not a registered or legitimate financial institution. No regulatory information can be found of the company. Reliable brokers usually have the name of their regulator and license / regulation number shown in their footer.
Also, if you are being asked to pay additional fees to withdraw your money, it is likely a scam tactic to extract more funds from you. Scam brokers often ask for additional deposits, claiming they are for withdrawal taxes, commissions, or other processing fees to release your funds. Unfortunately, paying these additional amounts will not help you get your money back and will only lead to further losses.
So please do not to pay any more money and report the incident to relevant authorities or financial regulatory bodies in your country.
If you need any further assistance or have more questions, please feel free to reach out.
Best wishes,
Andris