Around 100 investors in a Mexican crypto trading bot scheme that promised “daily payouts” and claimed to operate its own “crypto credit card” have filed an official complaint with public prosecutors after the firm disappeared, shuttering its physical offices, and blocking withdrawals.
As reported by Milenio, Tehuacán and Puebla-based AMG GPT allegedly lured more than 3,000 people into buying trading bots — with prices starting at 400 pesos — “for a set time period” in return for seemingly guaranteed returns.
However, while some users initially reported making money from their investments, the regular payouts didn’t last and many started to report “constant delays” when trying to access their funds.
They were apparently told by AMG staff that they would need to “pay verification fees” if they wanted to access their money and when users attempted to visit the company in person, they found all four of its offices shuttered.
According to Mexican journalist, Carolina Espinosa River, “The offices in Tehuacán have completely disappeared, leaving the premises empty.
“Although some supposed ‘leaders’ have been identified, they have also claimed to be victims of fraud. They state that they do not know who is responsible for the scheme.”
AMG also ran numerous promotional events and giveaways, including raffles that were supposedly giving away iPhones and Teslas. However, much like users’ funds, these prizes weren’t forthcoming.
Before disappearing, the company issued a statement that claimed the delays were caused by a “shopping festival” event that would provide investors with “generous rewards,” however, users simply claimed that this muddied the waters further.
It also said that worried users were required to apply for a special credit card called “Crypto-VISA.”
However, people who purchased these cards have since reported that they were asked for codes that drained their accounts.
It’s thought that AMG collapsed when it was unable to sustain the influx of new investors drawn in by recommendations from existing users who had benefitted — or thought they had benefitted — from the scheme.
One unfortunate victim told River, “It is urgent that this information be known, that the authorities take action on the matter, because they scammed a lot of people. They got a lot of people into a lot of trouble, including me and my family.
“Right now we are in debt, we don’t have money to pay, we owe a lot of money to people, friends, family, we are all very upset.
“We don’t know what to do, they are not giving us our money back, they are turning a blind eye and are running away with all the money.”