My Experience with PG Pay, Puregold SGD, and Broker Kiexo
My name is Mikhail. I became a victim of a fraudulent broker, and PG Pay and Puregold SGD acted as intermediaries in transferring my funds.
How it happened
I deposited funds into the broker’s account, believing I was working with the investment company KIEXO. In the payment documents, the recipient was listed as PG Pay and Puregold SGD, not the broker itself. This seemed strange, but the broker’s managers explained that “this is more convenient and faster for processing payments.”
When I realized I had been scammed and contacted my bank, my request for a refund was denied. The problem with the refund arose due to the refusal of PG Pay and Puregold SGD. Their chargeback dispute response contained documents of questionable nature:
The response claimed that I purchased physical gold, which is allegedly stored at the Port of Singapore.
It was stated that I completed registration and verification on PG Pay and somehow sent the gold. Initially, PG Pay and Puregold SGD claimed they had no knowledge of KIEXO, but later screenshots from the PG Pay user account clearly show KIEXO listed as the recipient, with a referral link.
The invoice included an unknown signature falsely presented as mine. They also attached my personal data, including my passport, and claimed that I had completed registration — which is false, as PG Pay confirmed.
The companies claim they “do not work with FIAT,” but actual bank transfers prove otherwise. They are widely used to channel funds from victims of brokers, which is confirmed by other victims’ reviews and media publications. I found an investigation (Cybernews, 2024).
Thus, PG Pay / Puregold SGD may be part of a scheme used to transfer funds to fraudulent brokers.
