The UK citizen, medical student, and Instagram “trader” Gurvin Singh, 20, claimed he was making £110,000 with his trading activities via his website www.gurvinsingh.com. Investors say Singh messaged them claiming he was an authorized Forex trader, promising guaranteed profits of up to £300 a day and that they could withdraw their money at any time.
Singh is currently being looked into by the National Fraud Intelligence Bureau (NFIB) after hundreds of victims filed complaints. The UK watchdog FCA issued an investor warning just recently. Authorities now charge him of defrauding more than 1,000 investors into losing nearly £4,000,000 in a Bahamas fund. He is believed to have lured at least 1,250 people into his Forex scheme. Many of his client-victims say he misled them into thinking their money would be traded by him and his team in a safe UK-based fund which they could withdraw from at any time.
Clients claim their accounts seemed to be doing well but started panicking when word got around the fund started losing millions. As a sad matter of fact, the client-victims money appears to have ended up somewhere offshore. Gurvin Singh is under investigation by the financial authorities as a potential scammer, and the police’s fraud unit has confirmed they are looking into the allegations.
According to Metro, The 20-year-old first made headlines in 2019 when he claimed to have turned £200 into £100,000 on the foreign exchange market while studying to become a doctor. Instagram snaps of his luxury car collection and lavish lifestyle quickly amassed him over 170,000 followers.
The Plymouth-based student then started a team of ‘affiliate marketers’ called GS3 Trades to help set up clients, whose money would be managed on a platform called Infinox. Allegedly, Gurvin Singh’s clients lost £3,865,000 between them between August 2019 and Christmas Eve.