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  • CMNV Warnings against scam Broker LMFX and FinmaxFX

    The Spanish regulator CNMV issued several investor warnings against several scam brokers earlier this week. These include LMFX operated by Global Trade Partners Ltd, Macedonia,...

  • Law Enforcement request for information for HybridReserve broker scam

    FinTelegram was asked by an EU law enforcement agency to ask for information about the broker scam HybridReserve. The authorities have received several fraud complaints from retail investors. Already in February 2019 the Belgian regulator Financial Services and Markets Authority (FSMA) and other regulators issued an investor warning against HybridReserve, which is operated by Singlebell Ltd in St. Vincent and the Grenadines and Singlebell OÜ from Estonia.

  • An alleged fraudsters lifestyle – Josh Cartu, the Cartu Bros, and the $165 million fraud complaint

    An alleged fraudsters lifestyle – Josh Cartu, the Cartu Bros, and the $165 million fraud complaint

    FinTelegram has been reporting on the vast global binary options scam scheme around the GreyMountain Management Ltd ("GMM") of the Cartu brothers. Joshua "Josh" Cartu has contacted FinTelegram via email several times, purported to have nothing to do with the GMM's fraud scheme, and pointed to his brothers. The U.S. CFTC sees it differently and have filed a fraud complaint against him and his brothers. The end of a lavish lifestyle and Instagram celebrity?

  • Investor warning – CryptoFX and BlueBird Options broker scams pretending to be regulated institutions

    The UK Regulator FCA has issued a public investor warning against CFD broker Scam BlueBird Options which is allegedly operated by St. Vincent and the Grenadines registered Bluebird Options Limited under the domain www.bluebirdoptions.com. The website claims that the company has a license from the FCA. This is nothing but a bold lie.

  • UK Watchdog warns against CFD broker scam Tradebase24

    The UK Regulator FCA issued a warning against CFD broker scam Tradebase24 on October 1, 2020. The scam is allegedly operated by Tradebase Limited, Tradebase (Europe) Limited, and/or Tradbase Group Limited under the domain www.tradwbase24.com. Currently, as a potential victim of the scam, you can only lose your money through Bitcoins (BTC). On Trustpilot, the scam still has an average 2.9-star rating. Never trust TrustPilot, right?

  • Spanish Watchdog CNMV warns against Swissgems and MarketsCFD

    A few days ago, the Austrian Financial Market Authority FMA issued an investor warning against the broker scam StarkMarkets, which is operated by the entities Krisimark Ltd and SWISSGEM Ltd. This week, the Spanish regulator CNMV issued a warning against SWISSGEM and the broker scam MarketsCFD which it operates. In May 20120 the Italian CONSOB has already blocked MarketsCFD (www.marketscfd.net).

  • FCA warns against broker scam AccepTrade facilitated by Praxis Cashier

    The UK regulator FCA issued a warning against the broker scam AccepTrade (www.acceptrade.com) on September 30, 2020. According to the information on the website, this scam is operated by an AccepTrade Ltd in Dominica. Once again Praxis Cashier from Amit Klatchko is used as a payment processor and Estonian Transcoin is integrated for crypto deposits.

  • BaFin issues cease and desist orders against illegal payment processors

    On September 29 and 30, 2020, the German Financial Market Authority BaFin issued several Cease and Desist Orders against German companies that provide payment processing services without the appropriate authorization. The BaFin order against the German companies is related to the international broker scams GiroFX, STSRoyal, and Fibonatex against which other regulators have already issued warnings.

  • Offshore Challenge – CFTC complaint was served on Wilfred Services.

    It is often a challenge for regulators, law enforcement agencies, or attorneys for victims of scams to identify the scammers and serve the complaint on...

  • CFTC complaint against broker PaxForex asking for full restitution and disgorgement

    CFTC complaint against broker PaxForex asking for full restitution and disgorgement

    On Sept 24, 2020, the U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against PaxForex (www.paxforex.com), an offshore CFD broker operated by Laino Group Limited which is a company registered on St. Vincent and the Grenadines. The Commission alleges that PaxForex is offering services without having the legally required FCM registration. PaxForex is accepting cryptocurrencies as a means of settlement.