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BaFin issues cease and desist order against TheCapitalStocks and RoyaltyFinance

Bafin warns against Kleinman Enterprise with TheCapitalStocks and RoyaltyFinance
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The German regulator BaFin has issued a cease and desist order against the broker scams TheCapitalStocks (www.thecapitalstocks.com) and RoyaltyFinance (www.royaltyfinance.io) which are allegedly operated by Kleinman Enterprise Ltd in St. Vincent & the Grenadines. Already in August 2020, the Italian CONSOB warned against these scams. Both are white label solutions of the Bulgarian Global CRM Solution Platform.

As a payment processor, the Russian Piastrix, meanwhile already well-known as a scam facilitator, is integrated. Furthermore, payments can be made in cryptocurrencies. At present, the Global CRM Solution white-label scams are the most frequently appearing in the warnings of the financial market supervisory authorities of various regulatory regimes.

We have recently exposed Bid Broker Stocks aka BBS, Energy Markets, and InvestActieve as Global CRM Solution broker scams. FinTelegram is currently working on a report about the Global CRM Solution scam network.

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