The Washington State Department of Financial Institutions (DFI), Securities Division has received a complaint from a Washington resident regarding Headway Group Corporation, a website claiming “to make high profit, low risk, and quick payoffs” in cryptocurrency. The website address is www.headwaygroupcorps.com.
The investor invested $400.00 in cryptocurrency. Subsequent to the investment, the investor requested his money back. Headway Group Corporation stated that it would take a week to process the request, and that it would also cost him an additional $80.00 fee. Headway Group Corporation further stated that the investor needed to at least deposit the minimum amount of $500.00 to request a withdrawal on his account.
The investor has been unable to withdraw his funds. These allegations have not been verified by DFI.
This appears to be what is commonly called and “Advance Fee Fraud”. Learn more about advance fee fraud.
DFI urges consumers to exercise extreme caution before responding to any solicitation offering investment or financial services. Investment professionals need to be licensed with DFI to offer investments to Washington residents. In addition, most investment products sold need to be registered with DFI. To check the licensing status and to find out if there are any complaints against an investment professional or investment product, please visit FINRA Brokercheck or contact the Washington State Department of Financial Institutions, Securities Division at (360) 902-8760. If you live outside of Washington State, contact your state securities regulator.
If a consumer believes a person or company has violated state law or acted improperly regarding an investment product or service, they may file a complaint with the Securities Division.
Additional Resources
Virtual Currency, Cryptocurrency, and Digital Assets Information for Consumers