Don’t invest heavy - you will be closed down

  • Dear good people , honest people:

    Football may be back but FI have decided to permanently close my account with no reasons and no justifications. I had won over £12,000 in 2 months. Perhaps that’s the reason - beware all!!

    I offered, again, all 8 years of company accounts, all banking history, engagement with my accountants and bank managers etc etc etc , FI were not interested and stated “the business has taken a decision and it’s final”

    Really bizarre stuff

    When I stated to them that you can all see I am 100% compliant in terms of Uk law and tax laws and that their reasoning for blocking my account and terminating it was purely self motivated to protect their profits they went silent

    Dont invest heavy in this game/company people

    They won’t pay my £12,000 profits and from the £118,000 i invested they are actually deducting £2k from this also for some unknown reason.

    Just be very very cautious

    My story could be the tip of the iceberg . I think players should be warned , don’t you all?



  • @FrankDaTank

    You clearly failed the Due Diligence &/or Anti Money Laundering regulations. You can still refer it to the Gambling Commission, followed by IBAS for arbitration, if you feel that you have been unfairly treated - Good Luck!

  • Sorry to hear this, I understand many people fail due diligence for various reasons but if you're in significant profit then it must be particularly painful. Out of interest, was this triggered when you were trying to make a considerable withdrawal?

  • Banned

    I don't believe this to be the full story...

  • To answer your query ,no it’s was triggered by me trying to make a withdrawal. I actually asked could I invest £35,000 more as I had identified further players to invest in.

    I did indeed fail, apparently, theis EDD check but I also carry out these checks within my own 2 London businesss (I employ 130 people) and I know what’s involved so I know I could not have failed any of the criteria.

    I have to put this down as a warning to others that if and when you make significant profits you are at risk of being shut down - the rules favour the rule makers...

  • Banned

    So what aren't you telling us?

  • I had a bit of ball ache with EDD about 12 months back.
    Eventually it was sorted but it did take a stressful two weeks to sort, made worse as the account was disabled for that time.

    I’ve sold my business but frank as you say you’re employing 130 people across two businesses so can’t see why you’re struggling with EDD reqs.
    Is there an appeal process ? FI repaying only your initial investment minus 2k is clearly a legal issue that you can pursue. What are your plans ?

    Hoping you’re not a scaremongerer from a rival site. Your timing for this thread is impeccable though , first day back for Bundesliga ...

  • Might be a daft question but if you are closed down how can you post of the forum?

  • Whilst I feel your pain as a company FI have to show the gambling commission that they are thorough in their checks; clearly you’re not telling the whole story, and why would you it’s your own personal matter.

    However whenever posts like this pop up I’d refer the the big whales on the platform that have zero issues with the checks.

    All gambling companies have to conform to the stricter regulations as money laundering is a massive issue for them (certainly not saying you have) so if you fail the checks and lose an appeal with the commission then that’s that I’m afraid.

  • @FrankDaTank really hope they haven't ballsed this one up! I preach FI and FS to gamblers using bookies and one the big reasons is the way bookies treat winning customers.

  • Banned

    Winning customers on bookies get profits from the bookie.
    Winning customers on FI get their profits from other customers.

    His argument makes zero sense and I can rip a hole in his argument just by what he has posted

  • Embarrassing attempt to frighten potential Investors. As other posts state, FI dont lose out due to people making money on the platform. Just because you can't pass the required checks its hardly their fault...

    I'm only 30k in but never had any issues with FI.

  • FI don't care if you're trading well. If anything it helps them. You're putting money and faith into the platform, they make 2% when you sell.

    Your 'winnings', unless you've made £12k in dividends and PB solely, despite the break in play, has come from other gamblers selling to you.

    IF you've provided the right paperwork to prove where the £118k has come from I'm not sure there would be an issue,

    Could be a mistake on their part.

    But its easy for you to whack up a thread knocking them without anyone else knowing what they asked for and just what you produced

    I do know there are people with a lot more than that on the platform (not me, chance would be a fine thing) and they haven't had their accounts closed.

    Be interested if you are UK based too

  • Thanks Sav / Fergus - I will be referring this perhaps. And no, I’m not from a rival company. I’m just an ordinary Joe soap that wanted some fun in the football world and this platform was ideal.

    To the person that asked how I am able to post on this forum , good question btw, my account functions have been frozen since early Feb but I can access this app all the time but do no trading. My funds are still with FI as we are disputing my issue.

    There will always be doubters and people that set out to purposely muddy waters. I’m not interested as my message here today is just a cautionary one for anyone considering high level investments.

    I’m not overly concerned about my particular issue as there are bigger things in life , so long as I get my initial investments back in full I will move on gracefully with life ..

  • @NewUser159387 ..This is a very good point. Perhaps if FrankDaTank still feels aggrieved after this process then he could provide full transparency to warn others..

    I went through this process also when making a substantial withdrawal but it was sorted out after a phone call to FI..

  • Banned

    Screen shot your account and post here then.

  • Quite an eye catching and somewhat 'slanderous comment' unless of course you can prove that FI close people's accounts when they hit a certain balance and have a history of this.

    Whilst I understand your frustration, everyone knows FI has to jump through hoops to follow gambling regulations and ensure it promotes responsible gambling.

    It should be quite easy to find out what you need to provide to satisfy the checks.

    If this is genuine, there's probably better ways you can look to resolve the issue.

  • I am currently going through this process. Questions have been asked piecemeal, are extremely invasive, I have concerns about who has access to the material provided and I do not believe the depth of investigation is necessary. I run a well established business. HMRC, Barclays Bank and Lloyds bank are satisfied by the source of my income, the latter two subject to money laundering laws themselves, but a small gambling site is not. Oh and this is the second time in six months, both triggered by taking out money that I was encouraged to deposit by way of a bonus. FI do themselves no favours and appear to be happy to benefit from money obtained illegally because they only check the source on the way out not when it is deposited.

  • @LittleFish
    You currently completing the EDD?

  • Would imagine there is something he isn't telling us, you don't fail for no reason at all.

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