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September 22, 2020

GRENKE Case – Smoking gun probed by German BaFin

The German regulator BaFin has announced that it will examine the allegations made by short-seller Fraser Perring about a report of his Delaware registered Viceroy. The German watchdog would have learned from Wirecard, says Raimund Roesler, who is responsible for banking supervision at BaFin. They would now probe the allegations raised by the report.

September 21, 2020

Grenke Case – Founder voluntarily suspends his supervisory board mandate

The Viceroy Report of the short-seller Fraser Perring, 46, about the listed German GRENKE AG has first personnel consequences. Company founder Wolfgang Grenke, 69, resigns from the company's supervisory board with immediate effect until the accusations have been cleared up. The company, founded in 1978, also announced a special audit by an independent auditing firm. After Wirecard, GRENKE is the second German target of the short seller from London. And it is again a powerfully executed but better-prepared attack.

September 19, 2020

GRENKE Case – The Smoking Gun was found in Vienna

The Viceroy report accuses the public GRENKE AG and its founder Wolfgang Grenke of running a malicious business model along with balance sheet manipulation and money laundering. The core of the accusations is actually rather identical to the accusations that Perring had also rightfully made against Wirecard. Perring is first and foremost a professional short seller and uses its analyses as a means to an end. And he does not deny that at all. In Vienna, the smoking gun in the GRENKE Case could have been discovered with CTP GmbH.

September 18, 2020

BridgerPay – Another Israeli high-risk payment processor ind Cyprus

We have identified BridgerPay as a payment provider of some broker scams in the last few weeks and subsequently put it on the Payment Processor Blacklist. We are of the opinion that without the intentional or negligent involvement of payment processors most of the scams would not be possible in the first place. FinTelegram wants to warn consumers, investors, and the payment industry about these bad payment processors via the blacklist. BridgerPay is no longer on it.

FinTelegram

September 14, 2020

TrustPilot – Facilitating scammers by deleting critical reviews and scam warnings

TrustPilot is increasingly proving to be a dangerous source of fake realities. At least when it comes to protecting consumers and retail investors against scams...

September 8, 2020

Vienna Cybercrime Trials – The attempt to move assets out of sights from prison

Gal Barak was extradited to Austria and was awaiting his trial. He was charged with investment fraud and money laundering. Hence, one concludes that his defense counsel is particularly sensitive to the issue of money laundering and potential asset misappropriation. Wrong thought. We are talking about the Israeli citizen Gal Barak and his also charged wife, the Bulgarian citizen Marina Barak.

FinTelegram

September 1, 2020

FMA warns against IFX Banc and Global Payment Solutions

On September 1, 2020, the FMA issued an investor warning against IFX Banc (www.ifxcapitals.com and www.ifxbanc.com) which is allegedly operated by Global Payment Solutions LLC in Podgorica, Montenegro. A quickly conducted review by FinTelegram revealed that the Bulgarian Ankor Group Investment Ltd is also stated as the operator. Once again, the Cypriot Praxis Cashier System Ltd of Amit Klatchko appears as a payment processor along with the Estonian AllGlobalPay.

August 25, 2020

CySEC Scam Tourism – Spanish police arrested boiler room agents in IronFX scheme

CySEC-regulated Notesco Financial Services Ltd has been the operator of the IronFX scheme for 10 years. The Cypriot company with CIF License No. 125/10 formerly operated under IronFX Global Limited and IronFX Limited and is part of a group of unlicensed companies that attack consumers and retail investors in other regulatory regimes with the IronFX brand. In July 2020, the Spanish police raided an illegal boiler room in Madrid, arrested two people and identified another nine people as suspects. The boiler room was part of the IronFX scheme.

August 24, 2020

Investor Alert – Never trust offshore-licensed or privately regulated brokers

Many online trading and broker scams claim that they have a license and want to pretend to the future victims that they are not serious. On the website and in the penetratingly aggressive calls of the Boiler Room agents the alleged licensing is emphasized again and again. The advice to investors, consumers and traders - do not trust companies with offshore licenses. Even with some EU licenses issued by weak, negligent, or relaxed supervisors, you have to be very careful.

FinTelegram

August 6, 2020

R.I.P. Rodeler and 24option – Final Settlement with CySEC

FinTelegram already reported in detail a few weeks ago about the voluntary renouncement of its CySEC CIF license 207/13 and thus the withdrawal of the Cypriot Rodeler Ltd and its forex broker brand 24option. The pioneer among the EU forex brokers had paid tribute to the problems with the market situation and the regulators and voluntarily withdrew the CySEC license.

August 6, 2020

Investor Warning: CPT Markets scam broker clone related to an FCA regulated entity

In the last few days, we have received information from whistleblowers that a scam broker with the CPT Markets brand under the domain www.cptmarkets.com has been acting as an allegedly regulated broker for months. In fact, this CPT Markets with this specific domain is a scam that appears as a clone of the actual FCA regulated CPT Markets. The "real" regulated broker, regulated by the FCA with the reference number 606110 uses the approved domain www.cptmarkets.co.uk and is operated by CPT Markets UK Limited.

August 3, 2020

Investor Warning against Praxis Cashier scam clients FX Leader and SwisCapital

The German regulator BaFin has issued a cease and desist order against the Praxis Cashier scam clients FX Leader which is connected to the SwisCapital broker scam. The FX Leader domain has linked to the SwisCapital CFD broker platform allegedly operated by a ScissCapital Limited, a company allegedly registered in St. Vincent and the Grenadines.