Home / Posts tagged 'LincolnFX'

  • CySEC confirms receipt of Maxigrid Request 4 Action

    CySEC confirms receipt of Maxigrid Request 4 Action

    FinTelegram has received lots of evidence suggesting the involvement of Roy Almagor's CySEC-regulated Maxigrid Ltd in broker scams like RoyalsFX or LincolnFX. These scams have harmed thousands of EU small investors. However, the legal responsibility to investigate the allegations lies with the responsible regulator CySEC and law enforcement. We have therefore sent a Request 4 Action to the CySEC Chairwoman and Europol. The receipt was confirmed by CySEC and thus the clock is ticking.

     
  • CySEC confirms receipt of Maxigrid Request 4 Action

    CySEC confirms receipt of Maxigrid Request 4 Action

    Over the last months FinTelegram has received plenty lot of evidence that suggests the involvement of Roy Almagor's CySEC-regulated Maxigrid Ltd in broker scams like RoyalsFX or LincolnFX. These scams have harmed thousands of EU small investors. However, the legal responsibility to investigate the allegations lies with the responsible regulator CySEC and law enforcement. We have therefore sent a Request 4 Action to the CySEC Chairwoman and Europol. The receipt was confirmed by email and the clock is running.

     
  • Maxigrid Case – Open Letter to CySEC chairwoman and Europol

    Maxigrid Case – Open Letter to CySEC chairwoman and Europol

    FinTelegram and EFRI have sent an open letter concerning Maxigrid and the related broker scams like RoyalsFX or LincolnFX (to name only two) to Demetra Kalogerou, chairwoman of CySEC, and Europol. The claim of The Financial Ombudsman Service of the Republic of Cyprus that CySEC would not be responsible for the crypto activities of the investment firms they regulate is wrong in our view. In addition, Maxigrid also handled bank deposits for scams hance was involved in fraudulent FIAT transactions too.

     
  • CySEC Tourism – More scams and victims of Maxigrid’s BitandBuy fraud facilitator identified

    CySEC Tourism – More scams and victims of Maxigrid’s BitandBuy fraud facilitator identified

    Sometime in April 2020, the discussion with Maxigrid started. A customer lost several hundred thousand Euros via the broker Scam RoyalsFX. He had made the deposits on the instructions of RoyalsFX via the BitandBuy crypto platform of the CySEC-regulated Maxigrid. He lost everything and involved FinTelegram in the complaint and shortly afterward BitandBuy disappeared without a trace. However, more scams and victims appeared after our Request 4 Information in June 2020.

     
  • CySEC Scam Tourism – The Israeli Maxigrid Network attacking EU investors

    CySEC Scam Tourism – The Israeli Maxigrid Network attacking EU investors

    This is the second part of our series about CySEC Scam Tourism which has its roots in the era of binary options. In this period between 2010 and 2017, mainly Israeli financial entrepreneurs came to Cyprus en masse to set up their CySEC regulated Binary Options Brokers. Simona Weinglass, an investigative reporter of The Times of Israel, called it Israel's vast and amoral scam industry. The CySEC has not made things too difficult for these foreign binary options scammers.

     
  • The CySEC Scam Tourism – Launch of Investigative Series

    The CySEC Scam Tourism – Launch of Investigative Series

    CySEC is the financial supervisory authority of the Republic of Cyprus and a sort of gatekeeper for the EU financial markets. Cyprus has developed into the single most important gateway to EU financial markets for non-EU citizens and organizations. The Israeli financial scene in particular makes intensive use of this gateway. But also Russian individuals and companies enter the EU financial markets via Cyprus. The CySEC is controversial within the EU regulators because of its "relaxed" approach.

     
  • Broker scams LincolnFX, ZurixCorp, and its payment processors

    The UK watchdog FCA and the Spanish regulator CNMV issued investor warnings against the scam broker LincolnFX operated by Lincolnfx.capital Ltd. It's still online on August 5, 2020. The FinTelegram Research team has received documents from some of the scam's victims and thus has taken a closer look. Consequently, facilitating payment processors like Plus Exchange or Titan Payments as well as interesting connections have been identified.