Another Regulatory Warning Against Vanished FinexTrader Broker Scam!

Latvian Racket and Finex Group
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FinTelegram has warned several times about the Latvian Racket, a cybercrime organization attacking consumers with broker scams and boiler rooms. One of these scams is FinexTrader, against which several financial regulators have issued warnings over the last two years. Recently, the Spanish CNMV. In our review on 1 August 2023, the scam’s website was not accessible. It seems the scammers vanished with their victims’ money.

Key Data

Trading nameFinexTrader
Related toLatvian Racket
Related scamsXFINANCES, eXFINANCES, ZurichInvests,
INT International Traders, Intraders
Legal entityFinex Group Ltd
JurisdictionUnited Kingdom
Related individualAleksejs Kohanovs
Payment processorsChargeMoney (https://charge.money)
HighIsk (https://highisk.com)
Authorization No
Compliance ratingBlack
WarningsFMA, AMF, CNMV, Central Bank of Ireland

Short FinexTrader Narrative

FinexTrader is allegedly operated by Finex Group Ltd, which has already operated the now disappeared scams XFINANCES, eXFINANCES, and ZurichInvests. On August 1, 2023, the UK Companies House announced the Compulsory Strike off. of Finex Group Ltd. Thex Companies House data show that the company has not filed its accounts due since May 2022. This is a sign that the scam will soon disappear.

The Latvian Aleksejs Kohanovs is registered as the controlling person in the UK Companies Register. As payment processors, we have discovered ChargeMoney and HighIsk.

Finex Group Ltd is part of the Latvian Racket, a cybercrime organization controlled by Latvian nationals. Several scams (which have since disappeared) have been run through this company. Finex Group has closely cooperated with the crypto payment processor Estonian Futurus X OÜ d/b/a MisterBit, which has also disappeared.

Read more about the vanished MisterBit here.

Share Information

If you have any information about FinexTrader, Finex Group, Latvian Racket, and the people involved, please let us know via our whistleblower system, Whistle42.

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