I am a 27 years old boy working in Shenzhen, china since 1,5 years.
I have been contacted by a "Independent Financial consultant" who wanted to propose me an investment plan to protect my money against inflation because, according to him, due to the financial crisis the volatility and the possible inflation could rise a lot, that means my savings would drop value.
My financial consultant has always been very kind and accommodating with me, he offered me a drink on Starbucks where we spoke about many topics and he asked me about investment.
The man is about 35 years old, very good appearance, he gave me the impression to be quite expert in economy because he used technical terms and he knows the charts of many commodities (the price of commodities during the time).
He told me to be a technical analyzer, he mentioned some technical analysis methods like Elliot's waves, psychological resistance levels, supports and so on. Still the basics I mean, but he did not look like just a sales man. Actually now I realized he used psychological persuasion strategies, like drop purposely down the volume of his voice to force me to get closer and create an instant rapport, really tricky, I thought he wanted dropped down the voice because we were in a public place, but actually I do not understand why other people cannot listen him when he was just introducing me DeVere group.
At the second meeting I went to his office and he explained me how does an investment plan does work showing me some mathematical counts.
Actually I have always been strong in math and I immediately realized the number he gave me at the end was very tricky and it represents a sort of illusion: it is just the magic of the compound interest, if you see the same chart in logarithmic scale (as you should due to the inflation) you can immediately realize the yield is absolutely linear.
Anyway I trusted him because I usually trust person, I went to the third meeting also.
Here he used another trick, I called him to pick me up downstairs to his office building because I did not remember his office's location in the palace, but he walked another way coming at my metro stop; when I called him again I realized the misunderstanding and I got back to the metro station, it took more than half an hour to get him (so strange: another trick to make me feel in debt) and it was after work, I started to feel very tired.
Then he started to introduce me the generali visio plan, I usually read carefully everything before sign anything, but at the end I was still at his office and it was 11 o'clock p.m. when I got out.
At the end I signed because I know Generali and I trusted him, after a couple of days I realized something wrong inside me, like a sort of alert, I started to investigate on internet and I got the truth thanks to this community.
I just wrote both to my Financial consultant and DeVere customer service that I want to cancel my policy and I sent instruction to the bank in Hong Kong to do not pay DeVere or anyone else without my consensus.
Until now I gave them no money but I am afraid they will attempt to withdraw money from my account using the papers I signed.
Is this enough? How can I get out this trouble? Any suggestion will really be appreciated: pickwick85(at)gmail.com Thank you.