Do not invest with this entity
This entity appears in one or more regulatory or sanctions lists (SEC PAUSE, DFPI, OpenSanctions). Report to the FBI IC3 at ic3.gov and the FTC at reportfraud.ftc.gov.
Union Maga Morgan Club
Investment / sanctions alert · dfpi
DFPI — Victim narrative (California)
A California consumer joined a WhatsApp group called “Morgan Club,” where members posted trading signals to make profitable investments. The group encouraged the victim to open an “institutional account” on a platform called Union Maga or unionmaga.com.Encouraged by the group members posting messages about large trading gains, the victim deposited funds onto the platform. After a month or so, the victim believed their account had grown to approximately $6 million. But when the victim tried to withdraw funds, the platform demanded a 10% commission. The victim paid but the platform then shut dow
Estimated loss: $6,000,000
Type: Investment Group Scam | Signal Selling Scam
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What to do if you were targeted
- 1.Stop all transfers immediately.
- 2.Contact your bank or wire transfer service to attempt a recall.
- 3.File a complaint with the FBI IC3 at ic3.gov.
- 4.Report to the FTC at reportfraud.ftc.gov.
- 5.Report to your state securities regulator via nasaa.org.