Who is Gurvin Singh and where is he now? | The SunAugust 8, 2022
GURVIN Singh, better known on the internet as Mr Gurvz made a name for himself online by trading foreign currencies.
He's at the centre of a BBC documentary investigating the high-risk world of Forex trading.
Who is Gurvin Singh?
23-year-old Gurvin Singh Dyal is a former student from Plymouth.
He grew up in a modest household and was raised by his mother in Ilford, East London.
Gurvin wanted to become a doctor but took a different route when his A-level results weren't good enough, studying biomedical science at the University of Plymouth, hoping to retrain as a doctor later.
After struggling with finances during his first year of uni, he spent a university bursary on a course focused on how to make money online.
From there he made "a couple of hundred quid a week" through trading, affiliate marketing, selling online courses and drop shipping.
Most of his fortune was made through forex – or foreign exchange – trading which involves buying and selling currencies for a profit, traders buy when currency is low and then sell when the price rises.
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Did Gurvin give out free money?
Gurvin is best known for handing out cash on a high street in Plymouth city centre back in 2019.
Shoppers were stunned when the then 20-year-old handed out pristine £10 notes, saying he "wanted to bring the community together.”
He said it was cheaper than using social media to advertise his trading activities online.
What happened to Gurvin and where is he now?
These days his Instagram account @mr.gurvz lists him as the CEO of Academy2Earn, an online platform that claims to teach students how to start a business online.
In May 2021, Gurvin was the subject of a four-part BBC Three documentary called Scam City: Money, Mayhem and Maseratis after being accused of scamming people out of almost £4million in an elaborate online scheme.
He is said to have persuaded over a thousand people, including his friends, family and even his former teacher to invest in his dodgy deals, promising them guaranteed profits of up to £300 a day.
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Pictures posted online demonstrated his lavish lifestyle with fancy hotel stays, luxury cars and designer goods in most of his photos.
His company GS3 Trades, provided trading services, offering to invest money on behalf on others.
Despite claims that he could make investors thousands of pounds, he was accused of scamming his followers when things took a turn for the worst in Christmas 2020, when investors discovered their funds had disappeared.
They were told their funds would be invested through a brokerage firm called Infinox, a registered company in London.
However, it turns out their trades were being handled by another company under the same name that was registered to The Bahamas.
This company was not regulated by the Financial Conduct Authority (FCA), meaning any money lost would be gone without protection.
It remains unclear what happened to the money.
On December 31, 2021,Gurvin was added to the FCA's list of unauthorised Foreign Exchange (Forex) traders.
The financial watchdog warned: "This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation."
Gurvin denies any wrongdoing and has not faced any legal action over the money that was lost.
Infinox, the company based in the Bahamas say they are no longer engaged with UK-based clients.
They say client documentation made it clear that any trading would be subject to Bahamian regulation and that they had no knowledge of any misleading or false claims Gurvin made which were unauthorised and in breach of Infinox's policies.
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Infinox Capital Limited (the FCA regulated UK company) reject all allegations of wrongdoing, maintaining that their companies were never involved in the misleading or dishonest promotion of a scheme to draw consumers into investing into high risk trading schemes outside the FCA's remit.
Infinox Capital Limited say they have acted, and continue to act, in an open and cooperative manner with the FCA.
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