A couple of days ago the UK FCA issued a warning against the broker scam CMG Markets (www.cmgmarkets.io), operated by Mitz Group with Mitz Partnership OÜ, Estonia, and its parent company Mitz Holdings Ltd, St. Vincent and the Grenadines. FinTelegram exposed that this scam is related to the Paragon Finance scam (www.pargon-finance.io and www.paragon-finance.cc). Today the FCA issued an explicit warning against Paragon Finance.
The scam’s payment processors are the Russian Piastrix for credit and debit cards and the unauthorized acting Lithuanian Fuselma UAB and Skylas UAB with Trustcom Financial UAB for bank transfers. The scams of course take cryptos too.
Marco Spinola, CEO of Trustcom Financial, has informed FinTelegram that his company would in no way accept scams or scam facilitating payment processors. Thus, the business relationship with the aforementioned illegal Lithuanian payment processors Skylas and Fuselma would have already been terminated before FinTelegram’s report. Excellent news, isn’t it?