tamir | FinTelegram News

Author: tamir

October 9, 2021

The illegal offshore broker LQDFX and its EuroTrader connections!

This Canadian BCSC recently issued a warning against the illegally operating offshore broker LQDFX (www.lqdfx.com). LQD Limited in the Marshall Islands is the operator. This unregulated offshore broker has been co-founded and controlled by Ozan Ozerk, a director and beneficial owner of the CySEC-regulated EuroTrader Group, and his partner Soteris Georgiou. LQDFX and the offshore EuroTrader broker schemes illegally acquires investors in Europe and North America and onboard clients in deliberate violation of KYC/AML procedures!

October 9, 2021

The new EuroTrader Group of Ozan Ozerk regulated by CySEC and FSCA

EuroTrader is a forex and CFD broker brand owned and operated by the EuroTrader Group, a group of regulated companies owned by the fintech entrepreneur Ozan Ozerk. Until at least April 2021, the latter has also been one of the founders and beneficial owners behind the offshore broker LQDFX. Since we published our report about the EuroTrader Group in April 2021 and exposed the offshore activities around the Marshall Islands-registered EuroTrade Global Ltd, some significant changes have been made.

October 8, 2021

Alert – Ti-Gi is not a CySEC-regulated broker but a weird scam!

The Cypriot CySEC has already warned about Ti-Gi (www.ti-gi.com) broker on September 2, 2021, stating that it would not be regulated by it. Today, the Austrian Financial Market Authority (FMA) has also issued a warning. The Ti Gi website claims to be an investment firm regulated by CySEC with license number 821/14, the FSC in Mauritius and the International Financial Services Commission (IFSC) in Belize. These claims are, of course, bullshit. Ti-Gi is a scam. Period. Stay far away.

October 8, 2021

Attention! Crypto exchange Coin Standart falsely claims to be Coinbase and FCA regulated

Coin Standart bills itself as a trusted and secure crypto exchange. It claims to be regulated by the UK Financial Conduct Authority (FCA). That's not true, the FCA notes in a warning. Instead, Coin Standart is an illegally operating financial services provider and scam that uses the license of Standish Insurance Brokers Ltd in Manchester. The website claims to have more than 3 million verified users and a trading volume of $455B+. These claims are all bullshit. Stay away.

October 7, 2021

Introducing high-risk payment processor Pixxles!

The FCA-regulated high-risk payment processor Pixxles is allegedly the successor to the T1 Payments group. Sounds plausible! Pixxles Ltd is the trading name of Pixxles, an e-money institution regulated by the Financial Conduct Authority (FCA) with reference number 927960. The T1 Payments manager Amber Fairchild established the company in October 2018 and is the controlling owner. Fairchild, too, is a Defendant in the U.S. fraud complaint filed by a former T1 Payments client.

October 7, 2021

Update on cybercrime enforcement actions in Israel, Cyprus, and Ukraine!

In recent days, international law enforcement actions have taken place in Israel, Cyprus, and Ukraine. While the U.S. FBI initiated the action in Israel with office raids and 26 arrests, the enforcement activities in Cyprus have been organized by German authorities. A well-known tech entrepreneur was arrested in Israel; in Cyprus, the boss of a CySEC-regulated investment firm was detained; in Ukraine, a notorious boiler room operator was arrested. All these enforcement actions were conducted on legal grounds of longing investigations of cyberfinancial crimes.

October 7, 2021

Investor warning against Online-Trading broker scam and its network!

Not a day goes by that the various financial regulators publish warnings against broker and investment scams. This week, the Spanish CNMV alone has already issued warnings against around 50 websites with illegal financial offers. The UK Financial Conduct Authority (FCA) warns against scams and schemes every day. Most recently, FCA issued a warning against the Online-Trading broker scam. The boiler rooms behind Online-Trading operate many more scams.

October 6, 2021

Breaking News – Boss of CySEC-regulated investment firm arrested in Cyprus!

It's a sort of big bang for the Israeli financial industry. First, 26 people were arrested in Israel on Tuesday night by the U.S. FBI and the Israeli police for operating a cryptocurrency investment scheme, according to reports in the Times of Israel and other media. They are said to be the employees of an illegal boiler room in Israel that had links to Cyprus. The owner and director of CySEC-regulated investment firm, was reportedly arrested today. Several sources have confirmed this arrest to FinTelegram.

October 2, 2021

Broker scams Bit-Market et al. vanished!

The broker scam Bit-Market is offline. At least for the moment! Anyone trying to access the website directly by keying in the domain receives the Cloudflare error message 1016. The UK Financial Conduct Authority and the British Columbia Securities Commission issued warnings against the scam in March and April 2021, respectively. The operators are said to be the two offshore entities, Strong Momentum LLC and Geronimo Tech Ltd. The latter is also connected with the Cryptvest and Cryptec scams.

October 1, 2021

Investor warning against Crypto Trading Association broker scam!

German regulator BaFin warned against the currently active broker scam Crypto Trading Association (www.cta-capital.com). The stated scam operator is Mia Group LLC, registered in St. Vincent & The Grenadines with company number 1039. This offshore entity was established as a shelf company by St. Vincent Trust and Escrow Ltd. The broker is available in English, German, Russian, Italian, Spanish, Arabic, Chinese, and Vietnamese. A global scam approach. Stay far, far away.

October 1, 2021

FCA follows FinTelegram and warns against WinbitX broker scam!

FinTelegram issued a warning against WinbitX (www.winbitx.com) on 11 June 2021. The UK Financial Conduct Authority (FCA) issued a warning on 30 Sept 2021. In our initial review, we found PayNetEasy and Pay Credits as the scam-facilitating payment processors. The cashier is operated through the domain www.shinepays.com. WinbitX is still attacking consumers! In September 2021, the Austrian Financial Market Authority (FMA) issued an investor warning against the scam.

September 30, 2021

EFRI, Paytah, and quite interesting Financial Ombudsman Hearings in Malta

Phoenix Payments Ltd d/b/a Paytah, registered in Malta and regulated by the MFSA, is currently at the center of regulatory and criminal investigations in several European jurisdictions. In addition, Paytah is facing claims from scam victims who made deposits to various scams through Paytah and its affiliates. The European Fund Recovery Initiative (EFRI) represented the interests of victims at an obscure Financial Ombudsman hearing in Malta. Franklin Cachia of CSB Group represented Paytah. Cachia is currently the company's contracted compliance officer.