SCAM with Sports Alpha-Bet?

Hi Revolut. A guy calling himself Jeffrey Banks has contacted me telling me that an investment of mine has matured and that the monies are held within Revoluts bank account. Can you assist me ASAP please in determining whether this is true or an elaborate scam?
Many Thanks

Suspect this would be a scam.

Do you have any dealings with this company?
Do you have an investment that’s due to mature?

1 Like

Hello Powie
I had an investment with Sports Alpha-bet last year. In December they seemed to go quiet and the website went down. Little if no info came from them. I Reported them to the FCA assuming I had been the victim of an elaborate scam.
Then 3 weeks ago, a “Supposed representative of Revolut” said that Sports Alpha-bet had to sell the business and pack up due to the new banking legislation and all client accounts had been put on hold. They had been stored in Revolut, and all that was needed was to send them £996 for them to release my overdue investment and profits. The Guy called himself Jeffrey Banks and I am not sure whether he is genuine or not.
Many Thanks for taking the time to respond Powie.

Just think about it logically.
Why would :r: be dealing with this?
Why would they need £966?

Many Thanks Powie. Your point is more than valid. Thing is I have an account with Revolut and trust them 100%. That puts me on the back foot. The £996 was a ‘Fee’ required by the investment company to release the funds and take some profit. Too good to be true? I lost £5000 in an investment that they appear to have made 55% on over a year, and to get my investment with profits back would have been great. However, there is an old saying…Fool me once, more fool you…Fool me twice, more fool me. I am just grateful that Revolut have been here to respond to my queries and clarify several points. Thank you all.

Sorry to hear the background - but right decision I am sure👍