Category: FINMA

Whistleblower Call to find HybridReserve scammerW
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November 6, 2021

Whistleblower Call – Let’s find the people behind vanished scam HybridReserve

The HybridReserve broker scam vanished sometime in 2020. It has defrauded thousands of victims during its active period between 2018 and 2020. Several financial market regulators in Australia and Europe have issued warnings against the scam. The vanished website was owned and operated by the offshore entity SingleBell LTD, Saint Vincent & the Grenadines, and the unlicensed Estonian SingleBell OÜ, One of the facilitating payment processors has been the German P2P GmbH, which is investigated by German law enforcement agencies.
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The Capital Letter scam networkW
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September 18, 2021

Wellington Holdings, Solid Invest, and the huge Capital Letter scam network

It is indeed a huge scam network. Scams will typically either take offshore companies or simply invent fake companies. Only rarely, they are operated by companies in Europe as is the case with the Capital Letter scam network. Capital Letter GmbH, registered in Munich, Germany was the operator of several large scams until the end of 2020. In addition, two other companies also registered in Germany, Brunnlitz GmbH and Tokkata Software GmbH, participated in the scams. All three companies are operated by Ukrainian individuals; all received warnings from regulators.
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SysPay Coinicash and AdvCash facilitate broker scams Wellington Holdings and Cento GXA
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September 15, 2021

Alert! Wellington Holdings scam facilitated by SysPay, Coinicash, and AdvCash

The Swiss regulator FINMA has recently issued an investor warning against the Wellington Holdings scam (www.wellingtonholdings.com). The scam operators do not disclose any information about the legal entity or persons but give Bleicherweg 10 in 8002 Zurich, Switzerland, as the address. This is bullshit, says FINMA. As a payment processor, we once again found SysPay, regulated by the Maltese regulator MFSA, in criminal collusion with Coinicash and AdvCash. We also noticed this combination most recently in the Cento GX scam.
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