Home / Posts tagged 'Maxigrid'

  • 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.

     
  • Lessons from BitMEX Case – Arrests, warrants, and bribing regulators with coconuts

    Lessons from BitMEX Case – Arrests, warrants, and bribing regulators with coconuts

    The U.S. Prosecutors charge the BitMex founders Arthur Hayes, Benjamin Delo, Samuel Reed along with the senior manager Gregory Dwyer with (a) violating the Bank Secrecy Act and (b) conspiring to violate the Bank Secrecy Act, by willfully failing to establish, implement, and maintain an anti-money laundering (“AML”) program at the crypto exchange or BitMEX. The charges each carry a maximum penalty of five years in prison.

     
  • 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.

     
  • Maxigrid Case – Cyprus Financial Ombudsman confirms regulatory violations but doesn’t care!

    Maxigrid Case – Cyprus Financial Ombudsman confirms regulatory violations but doesn’t care!

    Cyprus is really dark territory within the regulatory regimes in the EU. In plain sight, CySEC-regulated investment firms operate scams and/or facilitate them with their financial services. As in the case of Roy Almagor's Maxigrid and its meanwhile vanished BitandBuy crypto investment platform. Even the Financial Ombudsman Office has found that Maxigrid has violated regulatory requirements. However, the office does not feel responsible for customer complaints for very strange reasons.

     
  • FCA warns against PumaTS-Leverate scam RoyalStox with Praxis Cashier

    The UK regulator FCA has issued an investor warning against the scam broker RoyalStox (www.royalstox.com). This is operated by Marom Partners Limited on St. Vincent and the Grenadines. The scam is part of the Leverate and PumaTS network and connected to their Activ8 trading servers. It’s another full-blown scam from without any special features. The scam works with the payment processors Praxis Chashier and QubePay for crypto payments.

     
  • 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.