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Austrian FMA and other regulators warn against StarkMarkets broker scam

FMA and other regulators warn against StarkMarkets broker scam
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The Austrian Financial Market Authority FMA has issued an investor warning against the scam broker StarkMarkets (www.starkmarkets.com) which is allegedly operated by Krisimark Ltd and SWISSGEM Ltd in Sofia, Bulgaria. Already in June 2020, the Canadian British Colombia Securities Commission (BSC) issued an investor warning, and in July the New Zealand FMA (here). The scam facilitating payment processor is once again the Cypriot Praxis Cashier of Amit Klatchko.

In May 20120 the Italian CONSOB has blocked the website of broker scam MarketsCFD (www.marketscfd.net) of SWISSGEMS Ltd and Media Solutions Ltd.

We could not find the two entities Krisimark Ltd and Swissgems Ltd in the Bulgarian company register. Either they do not exist or they are registered somewhere offshore like in Belize or St. Vincent & the Grenadines. But one thing, however, is for sure – Praxis Pay knows as facilitating payment processor the beneficial owners of the scam.

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