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Investor Alert – The WorldMarkets broker scheme may be operated by former Blue Trading perpetrators

updated Feb 1, 2020: we have been contacted by WorldMarkets. They insist that their awards are no fakes and that they are a legitimate brokerage firm with a holding called WM Brands Ltd in Seychelles. They would also have a licensed entity in Estonia. We have not been able to verify this data so far.

updated Jan 31, 2020: we have received payment documents showing another bank wire connection for the WorldMarkets scheme.

We were informed that the perpetrators behind the Blue Trading scam may be working with a new scheme (again). This is believed to be the Online-AI-Trading Broker WorldMarkets. Many victims of Blue Trading in our EFRI channel and in TrustPilot are convinced that these are the perpetrators’ new clothes. Hence, we have taken a closer look and are warning investors against this scheme. Regardless of whether or not these are the same people who were behind the Blue Trading Scam. WorldMarkets is a dangerous scam in our view.

No legal information on owners and operators

On the WorldMarkets scheme website (www.worldmarkets.com) we have not found any information on the owners and/or the operating entities or the names of responsible individuals. Upon registration, you will receive a confirmation email with a Swiss telephone number for the helpdesk. One can find many phone numbers in different jurisdictions on the website under the contacts section.

The awards or prizes for WorldMarkets listed on the website are fake throughout in our opinion. Needless to say, that the scheme has not been granted a license under any regulatory regime to operate its AI-managed broker service.

We were somewhat surprised to find a positive review of Atoz Markets. But even in their allegedly carefully conducted review, one searches in vain for company data or persons.

Payment processors

Client-victims can only deposit money by bank wire or by crypto-currencies. WorldMarkets, however, offers to purchase the required cryptocurrencies via credit card. FinTelegram people tested the available payment options, find the conclusions below.

Bank transfer

In the course of our review, we requested and received the bank data. We are to transfer the money for WorldMarkets to the Swiss bank account (CIM Bank) of the UK registered company LA PAVIORA LIMITED. The sole director and shareholder of this company is an old acquaintance – Kirill Agranovsky from Estonia. He and his apparently related Elvira Agranovskaja are no strangers to the scam broker scene and are registered as nominee directors with a number of scam operating companies.

WorldMarkets bank wire instructions with La Paviora and Interconsultingline
WorldMarkets bank wire instructions

It is remarkable that the Swiss CIM Bank has made itself available for the bank transfers of the WorldMarkets scheme. Even a quick (soft) KYC/AML/CFT check would have to show that the site is operated without the necessary legal information and without the required license.

Another beneficiary has been provided to other WorldMarkets clients-victim:

  • Account Name: Interconsultingline B.V, with address BENZENRADERWEG 2 A, 6411ED, HEERLEN, The Netherlands (liquidated as of Dec 31, 2019)
  • Bank: ABN AMRO Bank N.V., GUSTAV MAHLERLAAN 10, 1082 PP Amsterdam
  • IBAN No: NL92ABNA0843376074 and SWIFT: ABNANL2A

In case you have additional bank connections associated with the WorldMarkets scheme please share them with FinTelegram using our whistleblower system.

Crypto with credit card

To purchase cryptocurrencies via credit card payments, you will be linked to the never-heard-of crypto-exchange Elegro (www.elegro.eu) and its subpage CertifiedCoins. There you can pay Bitcoins and other cryptos by bank transfer or credit card. The Elegro platform is operated by Niko Technologies OÜ, a company registered in Estonia. The company holds a license to operate a crypto-exchange in Estonia.

Elegro, in turn, works with Simplex as a payment processor. The payment processor Simplex (www.simplex.com) and/or Elegro are connected to other crypto exchanges such as Elastum (www.elastum.io), Paybis or BitStamp.

Simplex bills itself the leading fiat payment processor for the crypto world with “zero chargeback guarantee” which is a promising scenario for scammers.

Simplex is the leading fiat infrastructure for the crypto world, providing global credit and debit card processing with zero chargeback guarantee.

Simplex on Twitter

According to the records in the UK Companies House, Simplex Payment Service Limited was founded by Israel’s Simplexcc Ltd. The Israeli Nimrod Lehavi (born March 1975) is also registered as a director of the UK company. The company was founded in March 2017.

Simplex Payment Services UAB, registered in Lithuania, was also established in 2017 and is registered with the Bank of Lithuania with the Authorization Code LB001894 as a payment processor. The Israeli Nimrod Lehavi is also registered as CEO with the Bank of Lithuania.

In the Crunchbase database, FinTech Simplexcc Ltd, which is registered in Israel, is indicated as the operator of Simplex (www.simplex.com). The company was founded in 2014 by Nimrod Lehavi, Netanel Kabala and Erez Shapira and has further companies in Florida, New Jersey, and Delaware (see OpenCorporates).

Preliminary conclusion

We do not claim that Simplex and/or the crypto exchanges involved knowingly and intentionally support the WorldMarkets scheme. In any case, the lawyers and payment processors involved should intensify their KYC/AML/CFT checks.

In fact, some circumstantial evidence suggests that the Blue Trading attackers are behind WorldMarkets. For example, the processing of bank transfers, but also and above all the processing of crypto payments.

At the moment the tracks should still be warm and the scam still online. Hence, you can follow the tracks of the money. Follow the money is the only efficient approach that allows you to catch these scammers.

Request for information

In case you have information on the WorldMarkets scheme and/or its payment processors we would be more than happy to receive your feedback and intel. Please use our whistleblower system.

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