HELP!! GBG Limited is a scam and i can't withdraw my money.


Aug 16, 2023
I hereby wish to register my situation of withholding of funds with the trading and Forex company called GBG LIMITED (GLOBAL BENEFITS GROUP UK) and whose web page I attach below: gbglmtd[dot]com

I would like to put you in context so that you can understand the situation. On June 15, 2023 (15/06/2023); prior to some calls they made to me where they explained their business plan, an account was opened with the company GBG LIMITED, according to the contracts they sent us, they offered me an investment plan of $20,00.00 (twenty thousand Mexican pesos 00/100 m.n) They informed us that they had an agreement with Banorte bank, which is where they manage their bank account with an equivalence of $20.00 are twenty Mexican pesos per American dollar; in such a way that the initial investment was of 1,000 American dollars, as shown in the platform that they opened for me.

Once the account was opened, we could start trading on the account. In the contract it was also mentioned that once the account was opened we had to start making operations and after one month from the opening, we could already make the first withdrawal of capital.

We started operations with an analyst named Pablo whose contact number is +442039509192 with whom we made operations that were not so risky and we were learning how to work and what to invest in. So far everything was going well.

One day I received a call from another analyst named Modesto Ramirez whose contact number is +442039509192, telling me that he would take my account, since the advisor who was helping me had suffered an accident and therefore could not continue managing my account, he agreed to call me the next day to trade with him.

The next day I received a call from the new advisor, as I mentioned before, Modesto Ramirez, an Argentinean national, and he gave me some recommendations to invest, among the recommendations he gave me, was to take a credit with them for $3,100 US dollars; he explained that the reason for the credit was to make my account grow to be able to enter into larger investments and he mentioned how good this would be for the profits, which I finally accepted.

In order to grant me the credit, the company made me receive documents that I had to sign and deliver, so I never doubted the company. Until that moment the trust I had with them was total. Everything began to get complicated when the day of my first withdrawal approached, which was scheduled a month after the opening of my account; when this day arrived, the advisor Modesto Ramirez called me and told me that we had to place operations and that he had scheduled the call the following day to make the withdrawal of my capital; I emphasized that it was already a month away and he told me that the call was already scheduled for the following day.

The next day arrived and he did not tell me anything about the withdrawal, to which I asked him if it would be made that day; he replied that the call was scheduled, but for two days after the initial call was supposed to be made. In the same call, he told me that there should be no impediment for them to call me, since everything was in order and I could make the money available.

We operated as usual that day and when we started to place the investments he told me to place 2 volumes in an investment instrument, they were placed and when the negotiation was closed he called me alarmed and told me that there had been an error, suddenly the number I had placed had become 20, and the advisor told me that we needed to place more money in the account to not lose it since we were in the red, he told me that I needed to take a credit for 10 thousand US dollars, he shouted, he said that I had to accept them because the account was going down the drain, I told him that I could not pay 10 thousand dollars and he promised me that the company would help me pay only 5 thousand dollars and that they would put the other 5 thousand dollars but in order to have access to my money I had to cover the amount of 5 thousand dollars that I had borrowed, they told me that they would send me a form that I had to fill out and sign, I agreed to pay the money with a lot of effort in order not to lose my account, I filled out the form they asked me and I sent it back immediately, they told me that there should not be any problem for me to make my first withdrawal, they told me that they would schedule the withdrawal for Wednesday July 26, 2023.

On Wednesday, July 26, 2023, I received a call to make my first withdrawal, however when we were about to make it, the person who called me told me that it was not possible to make the withdrawal, that there were papers missing and I was not notified that I was missing any papers and that now I had to pay the 5 thousand US that they had told me they would cover, in order to have access to the withdrawal. He told me that he was very sorry but he could not help me with my retirement unless I covered the corresponding amount. I spoke with my advisor and he kept that, he emphasized that he did not know what had happened with those documents that they had sent them to me, but that I had not sent them. I told him that no, I had not received them and he told me that he did not know what could have happened. the help was there but now I had to pay the other 5 thousand dollars that they were supposed to put up to cover the 10 thousand dollars they had allocated to the account. I ended up paying for that $10,000 dlls in order to have access to my capital.

I notified my advisor that I would make a great effort to cover that money, but that once it was covered, I needed to be able to make my first withdrawal as soon as possible. He assured me that there should not be any problem for the withdrawal, that once the money was covered I had to wait from 48 to 72 hours for the receipt of the money to be reflected in their account and that once that time was over I could make my withdrawal tentatively on Friday, August 4, 2023; however, and according to GBG LIMITED the deposit was still not reflected in their account. Monday August 7, 2023 arrived and even though I told my advisor that I wanted to make the withdrawal early, he told me that it was not possible, that the call was already scheduled for the afternoon, I told him that I needed to withdraw now because I had to cover debts I contracted with third parties in order to cover the credit they had imposed on me and he told me that yes that Monday I could withdraw but in the afternoon because the receipt of the payment of the additional 5 thousand dollars that I had to pay had not yet been reflected;

I attach the image of the mail sent where the remaining 5 thousand dollars of the total of 10 thousand dollars were paid and where I request you in the most attentive way to be able to dispose of my capital.

However, on Monday, August 7, 2023, the advisor Modesto Ramirez spoke to me and told me that we had to place an operation, which would be one that did not carry much risk so that it would close early. That day, he took the operation and told me that he would place it because I was nervous and very doubtful about being able to withdraw my capital. We hung up and then he phoned me to tell me that there had been a problem and that practically all my money had been lost (I emphasize that as you can see, whenever I was about to make a withdrawal, something always happened and I was never able to withdraw) suddenly he connected the call with another person named Vicente whose contact number is +4420436286. Mr. Vicente told me that I had to take another loan for 36 thousand dollars, to which I replied that it was not possible. I told him that I did not have the capacity to pay for that loan and that I would not put any more money in that account because I was already distrustful because whenever I talked about retirement there were always problems; Mr. Vicente yelled at me and even went as far as insults, discrediting me, he told me that I had to put the money in if I had to, because otherwise I would run the risk of losing the account, to which I told him that I could not accept a loan that I would not be able to pay for. He told me that he could help me so that they could place the credit and I would not have to pay for it, I asked him how?

He told me that they were going to account for commissions to see how they could help me, and that possibly with that I would not have to pay anything on the credit and that now instead of the credit being for 36 thousand dollars it would now be for only 20 thousand dollars to be able to save the account, I told him my concerns, I told him that I could not accept the credit even for a thousand dollars because I would have no way to pay it, he was very insistent, he told me that I had to accept that it was possible that I would lose my account that I have worked so hard on in that way, I answered him that the only way I would accept to take the credit, would be that if the accounting of the commissions that they mentioned was done and if I did not cover the credit, that they would give me the opportunity to withdraw an amount that would not compromise the account and only then I could commit myself, he did not answer me, after so much arguing he told me that he agreed that he had to analyze and that he would see how he could support me.

Even before I signed any document, they had already put the money of the supposed credit in my account. They stressed to me that I had to sign the document, that if I did not sign, I would have to pay the whole credit. In spite of these threats I agreed to sign but with the condition that they would send me a written document, with the agreements we had reached, which consisted in being able to withdraw an amount that would not compromise the account, if the count of the famous commissions did not give 100% (one hundred percent) of the credit of 20 thousand dollars, and that after the withdrawal we could establish a method of payment, so that I could pay them, since previously I had already made deposits to the account that had me economically unstable.

To this day GBG LIMITED has not complied with the agreements we reached, they have even threatened to send me to their legal area, which never happens, they threaten me and make calls where between two of the advisors they tell me things to compromise me, but my position has been firm, that I do not accept under any circumstances the credit they imposed on me.

I have been investigating this company since I have tried to communicate with someone else from this company to be able to negotiate my case, and the numbers that are shown on their web page do not exist. I have also been investigating this company in the sites where they say they are registered and none of them have this company in their registry. According to their website they mention that their name is the abbreviation of "GLOBAL BENEFITS GROUP" and when doing the investigation, the information that is found is from another company that has nothing to do with them, so I could see that they took information to pass themselves off as a serious company.

That is why I am presenting my case before you, hoping that you can help me and thus recover my patrimony and prevent what happened to me from happening to someone else.

I do not omit to state that I have all the documentary evidence of the facts that I am narrating in case it is necessary to solve my case.
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Staff member
Nov 30, 2008
First, you've been scammed. The website (gbglmtd[dot]com) has nothing to do with the regulated company Global Benefits Group (UK) Limited, which is an insurer, not an investment company. The scammers just pretend to be regulated using that firm's credentials on their website.

Second, do not send them any money. This won't help you recover anything. You will just lose more money.

Third, your only option is to report them to the police and to the financial regulator in your country. It also makes sense to report them to the British FCA because they impersonate a British company. I don't think this will get your money back to you, but this will increase the probability that the scammers will get caught eventually.