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BREAKING – Massive Enforcement Action Against European-wide Illegal Broker Scheme

We just learned from our Bulgarian friends that police has raided several offices of illegal brokers, boiler rooms, and flats in Bulgaria. It seems to be a major crackdown on fraudulent binary options schemes. According to our sources, this is just the beginning of an international campaign against cybercrime in general and illegal brokers in particular. Those schemes have caused thousands of victims in Europe alone.

Perpetrators Detained

According to our information some of the operators behind many fraudulent binary options & illegal broker schemes have been detained on request of German and Austrian authorities. As reported by FinTelegram, illegal broker sites such as SafeMarkets, XTraderFX, or Golden Markets have allegedly defrauded thousands of investors in the EU. Most of the victims have been citizens of Germany, Austria, and Great Britain. Several victims joined our EFRI-Initiative already and their documents delivered important information on these fraudulent schemes.

Stay Tuned And Report

Stay tuned, FinTelegram will keep you updated. If you have news and/or pictures around this enforcement action, we would be more than happy to receive them:

5 Comments

  1. Barak Barak January 31, 2019

    Is Gal Barak the Wolf detained?

    • Redakteur Redakteur Post author | January 31, 2019

      Yes, according to our information, Gal Barak has been detained by police in Bulgaria. His friend Uwe Lenhoff allegedly has been arrested in Germany. The enforcement action is still proceeding and hence not much information can be shared.

  2. B3 B3 January 31, 2019

    What is the source for this? I couldn’t find any reports online.

    • charlenelens charlenelens Post author | January 31, 2019

      not yet public, we know because we worked with the enforcement agencies to enable the actions taken.

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