Financial Products

What is the opposite of "The Midas Touch"? Is it "The Robinson Touch"?

If you have read about the section on the two corporate bonds then you may be thinking "Surely there can’t be anything else….

This site wishes that this was the end of the story. However, it’s not.

Details are coming through that Mr. Robinson was negligent in the promotion of other products and opportunities. It appears that he was promoting a Foreign Exchange Rate (otherwise known as ‘FOREX’) trading platform at, or around, 2019/2020 where individuals were invited to invest large sums of money for above-average returns. Again, if you are comfortable with the risk versus reward trade off it’s something that you might look at, but again let’s not go down the route of “too good to be true” as its apparent that some products genuinely do produce good returns, with a level of risk.

The issue with this particular investment is two-fold: -

1) Despite the promise of safeguards, Mr. Robinson talked clients into investing significant sums. Unfortunately, their money was lost immediately the moment they pressed the “complete” button on the bank transfer. It is seemingly not known what exactly happened to these monies - whether these funds lined the pocket of the person Mr. Robinson believed was representing the product, or that they covered losses in the programme that the “representative” may had previously generated (etc.), but its clear that the investors didn’t get what the believed they had signed up for nor what Mr. Robinson had thought was going to happen. If so, then its clear that this is yet another incident of Mr. Robinson not affording his clients a duty of care and conducting appropriate due diligence on the opportunity he was presenting.

2) You would think that the above was enough, but apparently not. It appears that, despite knowing that investors had lost all of their money on this scam, Mr. Robinson decided not to tell all of them, leaving some to continue to believe that their money was growing into a nice nest egg. It is not known whether the word has finally gotten out to all of them. What has Mr. Robinson done to recover these funds? Apparently, nothing. Where is the communication? Has he taken any element of responsibility? Has he offered some recourse or compensation? Nobody has yet offered any positive confirmation to these questions.

Surely that is it! Hmmm…. There are mumblings of other financial disasters from opportunities run or promoted by Mr. Robinson, but details aren’t clear enough to warrant disclosure yet.