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Recover Money from Incomation

Incomation was an AI trading bot platform that collapsed in late 2023 after failing to deliver promised returns to investors who paid for funded prop firm accounts. If you transferred funds from a UK bank account, a refund claim may be possible — even if your bank has already refused.

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Why Choose Compensation Adviser

Recovering money lost to unregulated trading platforms like Incomation requires specialist knowledge of UK banking regulations and the complaints process. Compensation Adviser has extensive experience in handling claims against banks and payment providers where they have failed in their duty to protect customers from fraud. We guide you through every step — from initial assessment to Financial Ombudsman escalation — with clear, straightforward advice.

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What Was Incomation?

Incomation was marketed as a revolutionary AI-powered trading platform that purported to use artificial intelligence to pass proprietary trading firm (prop firm) evaluations and subsequently trade funded accounts on behalf of investors. The platform was founded and operated by Jamie Devine (also known as Jamie Divine), a Canadian national based in the Philippines, with Ollie Gray — a UK-based associate from Worcestershire — acting as a key promoter.

Investors were asked to pay between $1,500 and $2,000 for access to funded trading accounts of $100,000 or $200,000 respectively. These accounts were purportedly provided by Next Step Funded, a prop firm registered in St. Vincent and the Grenadines — a jurisdiction with no meaningful regulation of financial services. The platform promised monthly returns of 2–4% through its AI trading bot, with losses supposedly covered entirely by the prop firm.

Incomation originally operated from a subdomain on Kartra (incomation.kartra.com) before migrating to SamCart (incomation.samcart.com) in May 2023 after the original website went down. The platform also operated an MLM (multi-level marketing) compensation structure, paying referral commissions of 20% on the first level and 10% on the second level of recruitment.

How the Incomation Scheme Worked

The Incomation scheme followed a pattern commonly seen in AI trading bot fraud:

False Promises of AI Technology: Investors were told that Incomation’s proprietary AI bot could flawlessly pass prop firm trading challenges and generate consistent monthly returns of 2–4%. In reality, no evidence was ever provided that such technology existed or functioned as described.
Prop Firm Partnership Claims: Incomation claimed partnerships with prop firms including Next Step Funded and MDP Funding. Neither firm disclosed ownership information, and Next Step Funded was registered in St. Vincent and the Grenadines — a well-known offshore jurisdiction used to evade regulatory oversight.
MLM Recruitment Model: The platform incentivised existing investors to recruit new participants through generous referral commissions (20% first level, 10% second level), creating a structure where new investor funds were needed to sustain earlier payouts.
No Withdrawals: Investors soon discovered that their accounts yielded no returns and that withdrawals were impossible. Customer support was virtually non-existent, with staff starting conversations and then ghosting clients.
Accounts Blown: Multiple investors reported that their funded trading accounts were “blown” — meaning all funds were lost. Despite promises to replace these accounts, replacements either never materialised or took weeks to arrive before also failing.
Founder’s History: Jamie Devine was previously a promoter for Eaconomy, another AI forex trading bot MLM that collapsed in 2020. Eaconomy itself was a reboot of Silver Star Live, whose founders settled commodities fraud charges with the US CFTC in 2019, with a $15.6 million judgment entered against co-founder David Mayer in 2021.

The Collapse of Incomation

Incomation collapsed in late 2023. Jamie Devine himself confirmed the platform’s failure in December 2023. By this point, investors had lost significant sums — with individual losses reported in excess of $10,000. The platform’s Trustpilot page (incomation.samcart.com) carries a rating of just 2.8 out of 5, with 75% of reviews being 1-star ratings describing the company as a “scam with zero customer support.”

The US Commodity Futures Trading Commission (CFTC) issued a formal Customer Advisory in January 2024 titled “AI Won’t Turn Trading Bots into Money Machines”, warning the public about precisely the type of scheme Incomation represented. The advisory noted that AI technology cannot predict the future or sudden market changes, and that fraudsters frequently use claims of AI-powered trading to lure victims.

Regulatory Failures and Red Flags

Incomation was not registered with any financial regulator in any jurisdiction. Neither Jamie Devine nor Ollie Gray held the required authorisations from the FCA, SEC, CFTC, or Philippine SEC to offer investment services. The platform operated entirely outside the regulated financial system, meaning investors had no access to standard consumer protections such as the Financial Services Compensation Scheme (FSCS).

Key red flags that should have been identified by banks and payment providers processing transfers to Incomation include:

Payments to unregulated overseas entities via cryptocurrency exchanges or international transfers
Unusual transaction patterns inconsistent with customers’ normal spending behaviour
Multiple payments in quick succession to the same or related merchants
Payments to platforms with no verifiable regulatory status or physical address

Signs You May Have Been Misled by Incomation

If you recognise any of the following warning signs, you may have a valid claim for reimbursement from your bank or payment provider:

You were promised guaranteed monthly returns of 2–4% from an AI trading bot with no risk to your capital

You paid $1,500–$2,000 for a 'funded account' that never generated any returns or allowed withdrawals

You were recruited through social media or by an existing investor who earned commissions from your sign-up

Customer support stopped responding to your messages or ghosted you after taking your money

Your funded trading account was 'blown' and the promised replacement never arrived or also failed

You were pressured to recruit friends and family with promises of referral commissions that were never paid

Learn more about Investment Claims

Lost Money to Incomation? Here Is What to Do

Gather your evidence

Collect all payment receipts, bank statements, screenshots of the Incomation platform, and any communications with Jamie Devine, Ollie Gray, or Incomation support

Report the fraud to your bank

Contact your bank's fraud department immediately and explain that you were the victim of an investment scam. Request a formal investigation under APP fraud rules

File an Action Fraud report

Submit a report at actionfraud.police.uk to obtain a crime reference number. This strengthens your complaint and creates an official record

Check your credit card protections

If you paid any amount via credit card, you may be protected under Section 75 of the Consumer Credit Act 1974 for transactions between £100 and £30,000

Escalate to the Financial Ombudsman

If your bank rejects your claim, you have the right to escalate to the Financial Ombudsman Service (FOS), which can independently review your case at no cost

Contact Compensation Adviser

Speak to our specialist team for a free assessment of your case. We handle the entire process on your behalf, from evidence gathering to FOS escalation

Can I Recover Money Lost to Incomation?

Although Incomation itself has collapsed and the individuals behind it are based overseas, UK victims may still have viable routes to recover their funds. The key lies in holding your bank or payment provider accountable for failing to protect you from fraud. We investigate several avenues:

APP Fraud Reimbursement: Under the Payment Systems Regulator’s mandatory reimbursement rules (effective 7 October 2024), banks and payment service providers using Faster Payments or CHAPS must reimburse victims of authorised push payment fraud. If your bank failed to apply adequate fraud checks before processing your payment to Incomation, you may be entitled to a full refund.
Financial Ombudsman Service (FOS): If your bank rejects your initial complaint, we escalate your case to the FOS — an independent body that resolves disputes between consumers and financial firms. The FOS has consistently upheld complaints where banks failed to intervene on suspicious transactions.
Section 75 Claims: If any part of your payment was made via credit card (even a deposit), you may have additional protections under the Consumer Credit Act 1974, which makes your credit card provider jointly liable for misrepresentation.
Chargeback Claims: For debit card or credit card payments, chargeback schemes operated by Visa and Mastercard may allow recovery within certain time limits (typically 120 days, or up to 540 days for ongoing services).

Why Choose Compensation Adviser for Your Incomation Claim?

Specialist Expertise: We have extensive experience handling claims against banks where they failed to protect customers from AI trading bot scams and unregulated investment platforms.
No Win, No Fee: Our service operates on a strict no-win, no-fee basis. If we do not recover any money for you, there is no fee to pay.
End-to-End Support: From initial evidence gathering through to formal complaint submission and Financial Ombudsman escalation, we manage the entire recovery process on your behalf.
UK-Based Team: Our specialists understand UK banking regulations, APP fraud rules, and the Financial Ombudsman’s approach to investment scam complaints.

Frequently Asked Questions

Can I get my money back from Incomation?

While Incomation itself has collapsed and is unlikely to return funds directly, you may be able to recover your money from your bank or payment provider. If they failed to protect you from fraud — for example, by not flagging suspicious transactions or providing adequate warnings — they may be liable to reimburse you under APP fraud rules or through the Financial Ombudsman Service.

Was Incomation regulated by the FCA?

No. Incomation was not authorised or regulated by the Financial Conduct Authority, the SEC, the CFTC, or any other financial regulator. Neither Jamie Devine nor Ollie Gray held the required permissions to offer investment services in the UK. This lack of regulation is a significant factor in complaints against banks that processed payments to the platform.

What are your fees?

We operate on a no-win, no-fee basis. If your claim is successful, we charge a fee of 15% + VAT of the total compensation awarded. If we do not recover any money for you, there is no fee to pay.

How long does an Incomation recovery claim take?

The typical timeline for an APP fraud complaint is between 6 and 12 months, depending on the responsiveness of your bank and whether escalation to the Financial Ombudsman Service is required. We keep you informed at every stage of the process.

What if my bank has already rejected my claim?

A bank rejection is not the end of the road. Many initial rejections are overturned on appeal or through the Financial Ombudsman Service. We specialise in building robust cases that address the specific reasons for rejection and demonstrate where your bank failed in its duty of care.

Can I make a claim myself for free?

Yes. You are not required to use our services. You can complain directly to your bank and, if unsatisfied, escalate to the Financial Ombudsman Service at no cost. Our service provides professional expertise to help you build the strongest possible case and navigate the process efficiently.

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Important Information

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the bank, business or person against whom you wish to complain or to the Financial Ombudsman Service or the Financial Services Compensation Scheme, whichever is applicable to your claim.