Why does TV son Rustie Lee support the CashFX currency scam?
Tony Hetherington is the Financial Mail on Sunday investigator, fighting readers’ corners, revealing the truth behind closed doors and winning victories for those left behind. Find out how to contact him below.
JH writes: Have you seen that James Lees, the son of TV chief and personality Rustie Lee, is a huge promoter of the CashFX scam?
The delays in withdrawals from CashFX started in May and gradually got worse.
The delays are now eight or nine weeks, and members are realizing that this is a scam and things are not going well.
Support: TV celebrity Rustie Lee with son James Lees
Tony Hetherington replies: CASHFX is an illegal currency exchange system based in Panama but with tentacles that spread around the world. More than two dozen countries and financial regulators have issued public warnings against it, including our own Financial Conduct Authority.
It advertises itself as an educational company, selling training manuals on “forex” trading, but with a wink and a wink, its promoters convince recruits that they don’t need to learn. anything. Real money is earned by simply investing a lump sum, with even more if you recruit all of your friends and family into the program. Rustie Lee has been on numerous TV shows for many years. Recently her son James (and yes, he has an “S” at the end of his last name, when she doesn’t) joined her on Channel 5’s Million Pound Motorhomes, and he’s an prolific and flamboyant figure in online videos. But is James telling the truth?
In an advertisement online on CashFX, he states that “we are going to be regulated by the FCA”. It’s so wrong it’s laughable.
FCA says: “This business is not authorized by us and targets people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.
Of course, just selling training manuals doesn’t need permission, so is James Lees on safe legal ground? No he’s not.
In a presentation, he told victims that he lost money when he tried forex trading for himself, but now relies on CashFX: “With that I can see the benefit. You let the experts talk for you.
I asked James and his mother Rustie to comment on this illegal activity. James reassured himself, while Rustie suggested that I needed his “celebrity” status to attract readers.
She added that she had no connection with CashFX and explained: “Any online / facebook chat between my son and I is of a private mother / son nature on life matters and has / had nothing to do with CashFX. ”
Her husband and business partner Andreas Hohmann also stepped in, telling me it was “unpleasant” that I should even address Rustie with my questions.
He threatened, “I won’t let you use Rustie and bring his fame and good reputation to this non-event of a story.”
He then backed off very slightly, saying he had advised James to stay away from CashFX.
So how private are Rustie Lee’s online chats with his son? Not at all, since he publishes them in the eyes of the world.
Along with a promotional video, he advertises that “profits are better than wages” and provides a link to his personal recruiting website CashFX.
And in the video itself, Rustie Lee tells her how proud she is, “You are my son, you are not a trickster. not, then good luck to you and good luck to the people you care for.
A private conversation between mother and son? Not likely. After the end, James posted a message: “Wow, 1.5k views, thanks Rustie Lee.”
The point is, James Lees is recruiting victims into an illegal investment scheme, and it was this one that I warned against last year and even earlier this year.
Why the repeated warnings? Because the FCA is a failed watchdog who treats a review on their website as if it is real action.
He is devoting his ‘awakened’ energies to telling financial companies that they need more gender diversity and how they should respond to climate change. Meanwhile, it allows crooks without proper checks and has long given up on the idea of protecting victims of scams.
I invited the FCA to comment today, but after saying they would think about it, the regulator decided to go back to sleep instead. When, I wonder, will MPs and the Treasury select committee wake up?
Why working on your taxes is so taxing
Ms JS writes: Revenue & Customs informed me that I was entitled to a refund of £ 199 of tax paid on a PPI claim.
The company that represented me, PPI Tax Advisory, said they never received a check from Revenue & Customs.
Seven phone calls and six letters to the IRS failed to solve the mystery, and the claims company washed its hands of it. Can Revenue & Customs surely know if his check has been cashed or not?
Refund: Revenue & Customs have refilled their sums and are offering a refund of £ 150
Tony Hetherington replies: Oddly, shortly after you contacted me you received a second letter from the IRS, this time saying another check for £ 45 had been sent to the same agent, but with nothing to show how it was calculated .
It took senior officials from Revenue & Customs headquarters to explain to me what had happened. Your agent submitted claims spanning three years, from 2016 to 2019, but you had already filed a self-assessment return for one of those years and received a refund.
When Revenue & Customs sent the £ 199 refund, they made the payment incorrectly and had to reissue the payment, but failed to keep track of it. The staff recalculated your refund and sent the £ 45.
Then they found out that a former agent who acted for you also made a mistake, now leaving you with a £ 151 tax bill, not a refund. The gist of all of this, I’m happy to say, is that Revenue & Customs remade their sums resulting in a refund of £ 150 which was sent to PPI Tax Advisory. A spokesperson for Revenue said: “We apologize for the inconvenience – and have now corrected Ms. S’s file.”
The tax authorities have also sent you compensation of £ 75. I invited PPI Tax Advisory to comment, but they didn’t respond, although they eventually sent you £ 147 which is your tax refund minus their commission. Who says working on your taxes isn’t hard.
Virgin called the debt collectors
PL writes: We went from Virgin Media to BT. We had already paid Virgin in advance and received a cell phone refund, but nothing for our fixed and broadband plan. Then Virgin collected an additional £ 72 from our bank account.
On the right wavelength: Tony asked Virgin to cancel his debt collectors while he got his act together, and he did
Tony Hetherington replies: You told me that when you contacted Virgin the staff apologized and said they would fix the problem, but instead of being refunded you got a letter from debt collectors saying you had to even more. I asked Virgin to cancel his debt collectors while he got his act together, and he did.
Virgin Media now says: “We apologize to Mr. L for any distress caused. “We have issued a check for £ 101 to refund the money taken in error and will remove any outstanding balance from his account.”
If you believe you are the victim of financial wrongdoing, write to Tony Hetherington at Financial Mail, 2 Derry Street, London W8 5TS or send an email to [email protected] Due to the high volume of requests, personal responses cannot be given. Please send only copies of the original documents, which we regret that we cannot be returned.
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