Who Are Bridge Capital Advisors?
Bridge Capital Advisors was an online trading and investment platform registered in Malaysia and held its registered bank accounts in China. The company’s website has now been shut down, and Companies House details it as being in liquidation.
In the Bridge Capital Advisors review below, we investigate whether this was a legit trading organization or was operating a scam platform that resulted in the loss of its investors’ funds. If this is the case, then we look at the options that former members have to recoup their lost money.
Is Bridge Capital Advisors a Licensed Broker?
Although Bridge Capital Advisors was an incorporated limited company registered with Companies House in England, they held no license to offer financial services to the public, and they had no regulation in place.
The Australian Securities and Investment Committee (ASIC) issued a warning against this company in 2017, stating that Bridge Capital Advisers was acting in an unlicensed capacity and was targeting potential new members with unsolicited calls and emails.
“REASON FOR WARNING: We note a warning by The Australian Securities and Investments Commission (ASIC) that Bridge Capital Advisors could be involved in a scam and is an unlicensed entity in Australia. The warning also states that the entity makes unsolicited calls or sends unsolicited emails.” From the fma.gov.nz site
It is highly advised, for traders looking to place funds via a new platform to ensure that the company has all the relevant licenses and regulations in place, which is one of the best ways to be sure that you’re not dealing with a scam broker. It’s also a good method to safeguard your funds, as should the company run into trouble, you will have the potential for redress if it’s properly regulated.
Be aware, too, that the stringency of regulations varies from one country to another. This means that a disallowed practice in one territory may be acceptable in another, so check this carefully, too.
Is Bridge Capital Advisors a Scam or Legit?
It is very difficult to determine with absolute certainty whether a Bridge Capital Advisors scam was perpetrated, although there are some red flags to indicate that this was indeed the case. The fact that the platform’s website has been shut down and the warning from the ASIC are important warning signs that the company was running a Ponzi-style scheme.
There have been a plethora of online brokers in recent years that have been exposed as running Ponzi schemes; typically, this type of fraud involves convincing members to invest ever-larger sums of money and to bring in new investment regularly. This is crucial for the scheme to operate as, in reality, the platform is undertaking no actual trading, and the only money coming into the company is from new investment. Once these incoming funds dry up, the website will be shut down,and the company will close and disappear - taking the remaining money in the pot with it. With this in mind, the timeline of Bridge Capital Advisors seems to fit this profile.
Biggest Complaints Against Bridge Capital Advisors
The main Bridge Capital Advisors complaints concern the nature of the unsolicited calls and emails made by representatives of the company to the public. These communications were designed to persuade people, with promises of a significant and swift return, to sign up to the platform and immediately deposit a large sum of money.
Can I Get My Money Back From Bridge Capital Advisors?
It is possible to get a Bridge Capital Advisors refund, although it may be tricky. You can choose to pursue the case yourself and confront all of the entities involved in the scam in a bid to get your Bridge Capital Advisors money back or you may wish to instruct the services of a professional chargeback company. The latter option tends to have a much greater chance of success, as the team at a chargeback company has the experience, expertise, and industry knowledge to fight your case successfully on your behalf.
What Is the Chargeback Process?
To begin, choose the chargeback company that you wish to work with - be sure to read the reviews online from past clients as part of your research into the options available, and check their success rating, too. Next, get in touch; most companies have a simple online form on their websites. Following this, a representative from the team will contact you to discuss your case fully to determine if it’s likely to be successful. If this is deemed so, then the case will be taken on, and the team will begin to assemble all the documents and evidence needed to track down your funds and confront all of the individuals and organizations that played any role in the scam. You will probably be asked to provide proof of your lost investment at this point, including the dates on which the relevant transactions took place.
In the likely event that this results in a Bridge Capital Advisors refund, then these funds will be deposited directly into your bank account. The whole process will usually conclude in about six months, depending on the case’s complexity; often, the timeframe is a much shorter one.
If you have been the victim of a Bridge Capital Advisors scam, then it is recommended that you make contact with a reputable chargeback firm at the earliest possible opportunity to take the first step in recovering your lost funds.