I am a French person living abroad who invested a bit of money with a company that contacted me some time ago. This leading to that, I am a bit doubtful (legitimately?) that I will ever see my money back. Their website is here: http://thepetersongroup.com/ it is well crafted to seem honest. The people I got over the phone seemed quite professional.

A bit of context: I invested 5K over some shares, wired the money and let it be for a while. All the information was sent by mail after the phone conversations we had (pdf file via their admin) and they assigned me an account number. I got in touch with several people along the process (accounting, admin, etc).

I was not that afraid of the market fluctuations but more about seeing my money back (who knows right, it might seem a bit paranoid, though). After some time, they call me back with a classic, that was bigger than expected and we have a big opportunity but you need to invest 10K and we will sell the shares to a bigger corporation.

Does that seems like a legit business or am I getting tricked?

Cheers for your honest answers and ask for more information if needed

UPDATE: I contacted blackwatch ([email protected]) which isn't a person victim of the scam but as he wrote to me: "I have not lost any money with the Boiler Room, I am simply assisting a group of ex-pats in their efforts to recover at least part of their money. An investor come victim located in Malaysia has instructed lawyers in Jakarta to handle the matter of his losses and that of a group of investors located in the SEarea."
I advise to get in contact with him if you are also victim of this scam.


  • 28
    Looks like a scam. Make an excuse [story] that for tax benefits, you need the 5K back and you would send the 10 K from on your Wife's name. They may say they can convert your account ... but insist that from French Tax point of view it would make it simple if you got the money back ... or any such story to get your money back. Good luck.
    – Dheer
    Sep 10, 2015 at 10:22
  • 5
    @Dheer Scam the scammer, I like it.
    – Lilienthal
    Sep 10, 2015 at 11:13
  • 30
    yes. they are a scamming site. now wire me 1000 bit coins to me at [email protected] and I will get your money back for you. 100% gauruntee. nigerian promise my friend.
    – n00b
    Sep 10, 2015 at 16:16
  • 6
    General Reminder: if someone contacts you with an investment proposal, it will almost always be because they're looking to improve their own wealth, not yours. It may be a scam. It may be a pump-and-dump attempt. It may be because they're trying to unload something before anyone else realizes it has list value. If you don't know exactly who they are and why they contacted you in particular, run. Period.
    – keshlam
    Sep 11, 2015 at 14:59
  • 6
    Be careful, that email from "blackwatch" sounds like a scam as well.
    – jcm
    May 17, 2016 at 14:54

4 Answers 4


Just browsed their website. Not a single name of anybody involved. Their application process isn't safe(No https usage while transferring private information).

And considering they contacted you rather than you contacting them, I will be very wary about how they got my details. And they are located in Indonesia. And a simple google takes me to a BOILER SCAM thread.

So all in all you have been scammed. Try asking for your money back, but may not be that helpful. Next time before giving your money to somebody, do some due diligence. These type of scams aren't new and are very common.

  • Also the site was from 2005 and says nothing. I'm surprised it didn't say 'Helping you do what you do better'
    – Alec Teal
    Sep 10, 2015 at 12:34
  • 9
    Well, there's a "Peter Wagner, Managing Director" mentioned on the front page, but per Google Reverse Image Search, the photo provided next to the quote from the supposed Mr. Wagner is a stock photo: shutterstock.com/pic-163124075/stock-photo-businessman.html Truly, some basic examination of this website should've aroused suspicion to begin with.
    – recognizer
    Sep 10, 2015 at 15:16
  • 1
    @AlecTeal just because they have 2005 in the footer does not mean the website was made then. The site uses modern web development techniques that did not exist in 2005. The way most websites display the current year as a copyright is incorrect and doesn't do them any good. I agree that it still seems suspicious, but it was definitely published recently. Sep 10, 2015 at 15:47
  • 4
    If you wire me some money, I'll be more than happy to help you get your money back from them.
    – WernerCD
    Sep 10, 2015 at 16:46
  • 1
    There is an Apply Now link that is used for people to send in their resumes or apply for positions at that company 99.9% of the time but theirs is for you to send your information and open an account. They can't even get basic terminology right. Sounds legit to me.
    – blankip
    Sep 10, 2015 at 18:40

My personal experience tells me that nearly 100% of people who approach you have their own interests in mind. Things you searched yourself will be more beneficial.

  • 2
    Yeah, i learnt that the hard way and will remember this piece of advice Sep 15, 2015 at 23:41

It is a Scam. Don't invest more money here. Their website is the proof.

  1. Take a look at their risk statement which says,

Investments may appreciate or depreciate and you may not receive more than you initially invested. The Peterson Group offers products that are traded on margin and entail a degree of risk. You may incur losses that exceed your initial investment. Please ensure you are aware of and fully understand the risks involved, and seek independent advice if necessary.

Losses exceeding your initial investments does not sound a good investment even if it is not a scam.

  1. Not much contact information. Their contact page has only a form. No email. No phone number. No social media links.

  2. I would like to point some information from Dumbcoder's answer,

Just browsed their website. Not a single name of anybody involved. Their application process isn't safe(No https usage while transferring private information).

No names of the person's involved is a thing to notice. All the companies websites name their owner, CEO and the like.

  1. Take a look at their blog, They have no post showcasing their achievements. Just a bunch of random articles.
  2. No career, Jobs vacant pages.
  3. The websites provides no way for clients to contact them in order to obtain their services.

You can contact the french agency for stock regulation and ask them : http://www.amf-france.org/

  • 6
    Welcome to Personal Finance & Money! Would a French regulatory organization have jurisdiction over an investment in Indonesia?
    – dg99
    Sep 10, 2015 at 17:46
  • 12
    @dg99 It would be no different than contacting the FBI when an American has been scammed by people in Mexico/Peru/Argentina, etc... The authorities will want to know even if they cannot help immediately. It can either help them help others, alert them to a trend, or on the off chance they do recover money at some point...
    – SnakeDoc
    Sep 10, 2015 at 21:10
  • 3
    Thanks a lot I will do that immediately, at least to inform them, money is a separate issue. Sep 10, 2015 at 21:20
  • @Julien D I have just send them a mail, the automatic reply said that I might not get an answer from them (I just signal it as a scam, I haven't asked them support in mediation yet). They may contact me back for additional information but not sure. Sep 10, 2015 at 22:37

You must log in to answer this question.

Not the answer you're looking for? Browse other questions tagged .