Who Is Tessline?
Tessline was an online investment company based in Ireland that claimed to provide large profits to its investors. Established in 2018, the firm was promising 2% returns on investments of $3,000 in as little as 25 days; signing up for its VIP program would have apparently seen returns of up to 200%. Unfortunately, none of this was true. The reality is that Tessline was a Ponzi scheme and virtually every cent it received just lined the pockets of its proprietors.
The Tessline review below takes a closer look at the broker’s fraudulent activity, the complaints made by some of those that it scammed, and the best methods people can pursue in order to get their money back.
Is Tessline a Licensed Broker?
Tessline is no longer active and its former URL is down. This couldn’t be better news for anyone that was considering using the platform since even when it was open for trading, it was never a licensed broker. Ireland’s Central Bank never permitted Tessline to provide its financial services domestically nor was it ever authorized to deliver them abroad.
The problem with unlicensed brokers is that not only are they operating outside of official regulations, but they’re also incredibly difficult to track down when they’re eventually forced to close shop.
If you’re using an international broker that’s unlicensed, you’re going to have an even tougher time finding any sort of authority to turn to in the event that your investment is lost. Trading regulations, however minor, differ around the world, so always be sure to do some research before signing up for any online broker - even if the one you’ve chosen is known to be legit.
Is Tessline a Scam or Legit?
Add Tessline to the long list of online brokers that are nothing more than Ponzi schemes. There’s no evidence to suggest that any capital was raised by this fund, only that the site was investigated by the CBI after less than a year of operation. What’s more, the well-known insurer, Allianz, issued its own warning on the company.
Investors were promised high returns but instead had access to their accounts revoked and were unable to contact the company to get updates on their investment. Plus, they didn’t see anything close to the returns they were promised, like the apparent 200% for VIPs as mentioned above. Had Tessline not been shut down, and been flagged by various authorities, the company would’ve continued to scam naive investors and ran away with even more money than they already did.
Biggest Complaints Against Tessline
Just like with most other scam brokers, sites like Trustpilot have a bunch of positive reviews on Tessline. After a rudimentary search, however, you’ll quickly see that there’s something off about what’s being posted. To put it bluntly: these reviews are quite clearly not genuine - especially when you see what the negative commenters have to say.
The above review is one of a number of complaints made by former Tessline users who’ve been hit hard by the scam broker. Tessline acting as a Ponzi scheme, revoking account access, and various other fraudulent actions are just a handful of the worrying comments made online.
Can I Get My Money Back From Tessline?
You stand a good chance at getting your money back from Tessline but don’t hold your breath if you plan to go at it alone. You’ll need to recruit the expertise of a chargeback pro if you hope to recoup the funds that you’ve lost.
The much-needed knowledge, skill, and experience these experts have is your best way to get your problem dealt with. Helping people just like you is their bread and butter. Plus, your case won’t be their first, and it definitely won’t be their last. In all honesty, there’s no better way of getting your money back.
How Does the Chargeback Process Work?
The chargeback process isn’t exactly straightforward but that’s what the professionals are there for. The role you play, however, couldn’t be easier. It all starts by picking the right agency and arranging a free consultation.
Just fill out the contact form on your chosen company’s website or give them a call and you’ll have the chance to explain the details of your scammed investment to a team of diligent, chargeback experts. After reviewing your evidence, if they decide your case has merit, they’ll work tirelessly to get your money back where it belongs: in your bank account.
Chargeback companies have access to a ton of resources that will make all the difference to your case. Your investment will be their top priority and they’ll connect with every authority possible that can support you. That means fraud detection agencies, the local police, and in many cases, a partnering law firm. They’ll also apply a ton of pressure to the scam broker itself.
This may take as long as six months, and though there’s a small fee to pay, there’s no more effective way to reclaim what’s yours. You’ll receive constant support and insights into your situation throughout the whole process, too.