The alarm bells started ringing in October when I decided to review my contract. On the last page there was a link that took you to the numbers in the account. This showed that the main account contained £ 3.6million, which is all of our money put together. But then I noticed that it said minus 100,000 floating “PNL” (Profit and Loss). When I raised him with Singh, he told me it was completely normal and asked me not to share the link with anyone else.
But, as an accountant, I sensed something was wrong and started checking the link most of the time. Every time I logged in I saw that the money was dwindling. Within a week the account was down by £ 1.5million.
I tried to sound the alarm on the WhatsApp group, but Singh and the group admins kept shutting me down; he blamed Brexit and said we would be able to get that money back in the new year.
Before we signed up, the admins said we could withdraw our money at any time, but when we were in the chat Singh said if we withdraw the money it will stop the transactions and close the whole account.
On Christmas Eve, everything collapsed. The investment started to drop sharply and every time I checked my phone I saw my money go down: £ 27,000, £ 26,000, £ 25,000. Everyone was panicking, but Singh and his team kept shutting down the WhatsApp chat, making communication difficult. It stopped dropping to £ 9,000, but by Boxing Day the rest was gone.
I’m not an emotional person, but it was horrible to watch my savings vanish in front of my eyes and be powerless to stop it. I tried to focus on spending time with my family, but all I could do was panic and look at my phone. Some of the stories that came from other members of the WhatsApp group were terrible: some people had put their savings into Singh’s plan, borrowed money from their families, or were no longer able to pay their rent.
When we demanded answers, Singh replied that “trading comes with risk”. He said we need to get answers from Infinox, but Infinox said they need answers from someone higher up. They all blamed each other, like they had no idea what was going on. Naturally everyone got angry and in the end Singh just closed the WhatsApp chat.
When I told my parents what had happened, they weren’t angry, more worried. I managed to get £ 10,000 back from NatWest after a dispute, which made the loss easier to bear. My experiences did not deter me and I have since managed to get some money back by investing in cryptocurrency. However, I am painfully aware that not everyone is as lucky as I am.
Singh is still active on social media and his followers have grown to 252,000. He has switched to drop shipping and started selling his courses online. He removes all negative comments from his Instagram and if you bring up the fact that you have been scammed he will block you.