Germany’s financial supervisory authority (BaFin) warned investors of the activities of a venture called
A Vast Scheme And Busy Perpetrators
The BaFin warning says that
The perpetrators behind the scheme, however, are evidently involved in a range other broker scams:
- The illegal broker site RichmondFG (www.richmondfg.com) is allegedly also owned and operated by Elit Property Vision Ltd according to a public warning issued by the Italien watchdog CONSOB in March 2019. RichmondFG was also blacklisted by the Bulgarian Financial Supervision Commission (FSC).
- the crypto broker Bitcoinoie (www.bitcoinoie.com) is also operated by Elit Property Vision Ltd and a company called Bitcoinoie FinServices Ltd which claims to be registered in Sofia, Bulgaria.
- The illegal forex retail broker PrimexClub, (www.primexclub.com) evidently a crypto broker scam is operated by Elit Property Vision LTD.
- According to the BaFin warning, the crypto broker CryptoFG (www.cryptofg.com) is also connected with Elit Property Vision Ltd. Just recently the official operator was changed on the scheme’s website to a Galaxy Capital Ltd in Bulgaria.
- The forex broker StockSTPbrokers (www.stockstpbrokers.com) is another illegal broker operated by Elit Property Vision Ltd.
- The Capital245 (www.capital245.com) broker scam was also operated by Elit Property Vision Ltd before the operating entity was switched into a Bali Limited Ltd and a Capital245 FinSerives Ltd in Bulgaria.
- Bali Limited Ltd, in turn, is connected to a variety of scam brokers such as 4Ugroups, OriginalCrypto, or StocksCall.
Busy perpetrators, right? And like for Israeli Gal Barak and his E&G Bulgaria, Sofia and Bulgaria seem to be the right place to operate scams attacking EU victims. The local politicians and enforc
Report Broker Scams
Illegally operating broker schemes and their boiler rooms are part of fast-growing global cybercrime activities. Millions of investors are defrauded by those broker sites losing billions of euros every year. Hence, it is important to warn investors of such illicit sites. If you are a victim of an illegally operating broker site such as Tradeinvest90, Option888,