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SafeMarkets lawsuite: The German law firm CLLB takes action against the illegal trading platforms of SafeMarkets of Wolf von Sofia and his partners (our reports on SafeMarkets here). The many cheated investors in Germany have prompted the CLLB founder and partner Istvan COCRON and his law firm to set up a corresponding class action within the framework of the German legal system. Investors who feel defrauded by SafeMarkets can now contact CLLB (more information on the CLLB website).

Here is the translated call to action of CLLB (translation by FinTelegram):

Binary options – The SafeMarkets and others case – CLLB Attorneys at Law represents injured investors

11-12-2018 | Istvan Cocron

Munich, Berlin, 12.11.2018

There are already several reports in the press and on the Internet about the alleged fraud on the part of the operators of the SafeMarkets binary options platform. The platform, which has since been deleted from the net, has apparently left many victims, especially in Germany.

In the meantime also the first damaged ones announced themselves with the Kanzlei CLLB of attorneys, with seat in Munich and Berlin, in order to let their requirements examine against the responsible persons.

So far among other things, the following information is present, which is suitable to examine further requirements for the investors:

  • SafeMarkets UK Financial Conduct Authority (FCA) Investor warning
  • SafeMarkets UK Financial Conduct Authority (FCA) Investor warning SafeMarkets Investor warning by the UK Financial Conduct Authority (FCA)
  • SafeMarkets Investor Warning from the UK Financial Conduct Authority (FCA)

The SafeMarkets website (www.safemarkets.com) was operated by various companies such as Leverate Financial Services Limited, registered in Cyprus, Almamarkets Ltd. with Serbian Director and Frontman Andrija ZIVKOVIC or Optiumcommerce OU in Estonia.

According to information on the Fintelegram website, further information is available on the responsible companies and actors behind SafeMarkets such as Gal BARAK and its Global Media Partners or Marina ANDREEVA, Kfir LEVY, Hen GANON or Barak SIMHI of E&G Bulgaria or E&G Finances, which may be helpful for further claim enforcement. CLLB’s team of experts is already in contact with Fintelegram and other journalists in order to clarify the situation together with the injured parties.

In the meantime, research teams have also identified the individual call centres and their managers in Bosnia, Serbia, Bulgaria, and Georgia. In addition, information is now also available on cash flows to companies in Hong Kong and Israel.

The CLLB team, which is now also intensively involved in the further examination of these issues, explains that victims damaged from transactions with binary options should have their claims reviewed by a lawyer specializing in banking and capital market law.

SafeMarkets operator Gal-Barak
SafeMarkets operator Gal-Barak

Support for SafeMarkets lawsuit

FinTelegram will support CLLB with information and publications in the best possible way. We have one common mission – to protect investors, recover investor funds and close down those fraudulent schemes. In fact, the SafeMarkets scheme managed by the two scam artists Gal BARAK (Israel) and Marina ANDREEVA (Bulgaria) is one of the worst rip-off brands in the area of illegal trading platforms (Binary Options / FOREX / Crypto). Especially investors in Austria, Germany and the UK were ripped off massively. Thousands of investors were deprived of a lot of money by calls from the Boiler Rooms of E&G Bulgaria, a company owned and managed by Gal BARAK and Marina ANDREEVA. Financial market supervisory authorities in various jurisdictions have been warning investors for months and ordered operators to cease business operations. Currently, we work to onboard lawyers from other jurisdiction to join CLLB and their funds’ recovery campaign.

Marina Andreeva, CFO E&G Finances supports her partner Gal Barak

We know that enforcement agencies in various jurisdictions are also investigating Gal BARAK and his partners and have a lot of information that will help CLLB’s funds’ recovery campaigns. The Bulgarian authorities have recently been presented themselves aggressively against the scammers and fraud artists in Sofia. With the additional pressure of class action lawsuits from Europe and North America, the Bulgarian authorities should be strengthened, hopefully leading to the closure of these fraud systems in Sofia and the final accountability of those responsible.

Damaged investors and interested parties can also contact FinTelegram via our whistleblower system.

  1. Penny McQuaker says:

    This is VERY interesting information. The question is will investors in UK be able their initial investment back plus the money they have allegedly made.

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