Neo Capital Crypto Scam

Neo Capital called from 0202137180 claiming to be in the UK. It was a terrible VOIP connection.

The usual “You registered on our website, but probably forgot or it was a while ago. You indicated interest in investing.” Um, no I didn’t.

The “Financial Consultant” had an American accent, but obviously not a native speaker. Possibly East Asian or Eastern European. She tried to get me to install AnyDesk so she could help me. I obviously refused.

She said they were affiliated with Coinbase which I doubt except maybe they refer some clients there as an Affiliate Marketer.

Claimed they were regulated by FCA (UK), “Just like Coinbase is.” I pointed out that cold calling Australians offering investment advice is illegal, they are an unregistered and therefore unregulated financial advisor and by definition as scam.

She persisted!

Tried to get me to register on Switchere and CREX24 Crypto exchange websites. Both hide their WHOIS registration data so I don’t trust them. Finally got her to tell me the URL of their company which she claimed was neocapgroup [dot] com but she got it wrong three times, so they may not even bother having a website.

Man! They really wanted my $150 initial investment. She kept asking me if I was going to invest or should she call her next client.

I after 27 minutes I was escalated to their Senior Financial Advisor – Ben Gray (or Grey?). He claimed his grandfather was English but he was raised in Romania, but he didn’t respond to my “how you doin’?” in Romanian.

Finally their plan becomes clear. They want me to buy Bitcoin and then use that to buy a “fresh” crypto currency that is recently launched, but I have to buy it on a “Coinbase affiliated website”. So it’s a pump and dump scheme with a Bitcoin transaction to help clean the audit trail.

After 41 minutes I was bored with wasting their time so repeatedly accused them of being scammers. I suggested that if Neo Capital could show me a single regulator with whom they were registered I’d invest $150. They couldn’t.

Stay safe in 2020

7 responses to “Neo Capital Crypto Scam”

  1. Hello Paul, I came across your comments about Neo Capital, I too have been contacted by them, FYI another company called Alter Capital had been cold calling me, I have left comments on Dirty Scam, trust pilot, scam adviser and 180 info, if you look you will see a connection between these companies, regards and thank you for taking the time to warn others.

  2. For your information, these are some of the posts I have left on “dirty scam” and other sites for warnings, the connection seems to be..Ben Grey, Crex 24 and Coinbase..a bit of a coincidence I know from different companies although at companies house uk I cannot find any affiliate or third party etc called Neo Capital, although Neo Capital is registered, thank you for your blog.

  3. This little article sure upset them. I got off a 10 minute-call from +43 730 115561 in Austria. Possibly from the same woman. She must think I’m based there or she’s dyslexic. She asked me for proof that it’s a scam.

    I repeated the points from my article.

    She got fixated that I signed up for their call. I don’t use that phone number and email address to sign up for anything.

    Running out of patience I gave her a quick lesson on Australian Financial Services Licencing law. She claimed they were exempt because they didn’t “interact” with client money. Nope everyone who gives investment advice must be licenced.

    I offered to review any evidence she had that Neo Capital was not a scam. If I was wrong, I’d retract the article and publish her evidence. She didn’t accept the offer.

    Finally she started screaming and hung up on me.

  4. They just called me again from 02 9209 4980. I didn’t have time tonight, so I told him I didn’t sign up. He told me I probably forgot registering.

    I just told him to google NeoCapital and click the first site that says it’s a scam. I didn’t get his name this time!

    But he launched into his spiel about good reviews and bad reviews. I told him I wrote the article. He repeated his “good and bad reviews” script and people only write bad reviews when they lose money.

    I cut him off and told him to check the name of the author. I wrote the review. He told me I couldn’t use that word. Of course I can use the word scammer.

    He demanded to know: Did I have a relationship with NeoCapital? Did I lose money with them? How can I say that?

    I said read the article, but you’re calling Australia enticing me to invest in Crypto. That is investment advice. Under the Corporations Act 2001 an Australian Financial Services Licence is required to do that.

    Ah but that doesn’t apply to someone in India! Yes it does. It applies globally to anyone offering those services to Australians. Therefore he is breaking the law.

    He was screaming by then and hung up shortly after.

    The whole office had a giggle.

  5. NEO CAPITAL.Can anyone tell me are they a scam and have they got a licence and are they regulated as i invested with them with crex 24 and i would like to know more about them. They first called me cold calling.Regards Tony.

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