Trading in currencies can be extremely risky for amateur investors.
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Secure Investment said it offered something safer: It made trading decisions for investors and guaranteed their principal.Secure Investment said that it traded in excess of $4.8 billion daily for more than 100,000 investors in 140 countries. Over three months, Mandal, 41, says he carefully followed Secure Investment's trading results on its website.Following instructions from Secure, they then wired the money to banks in Australia and Cyprus to open their accounts.Logging into the company's website regularly, they watched as Secure traded the dollar versus the euro. In an emailed response, Secure said he'd have to wait.Investors around the world may have lost more than $1 billion, based on data posted on Secure's website and viewed by Bloomberg Markets two months before the site shut down.Twenty-five investors interviewed say Secure, which was incorporated in Panama in 2008, had instructed them to wire money to banks in Australia, Cyprus, Latvia and Poland.Secure's website included 54 video testimonials, supposedly from investors; a six-minute infomercial; and three animated cartoons.The Secure testimonials didn't say the company had paid for them.No one at Secure Investment has responded to calls or emails since that day.
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