The safemarkets scheme of the Wolf of Sofia, Gal BARAK, and his business partner Marina ANDREEVA are back. Until a few months ago the unregistered and therefore illegal trading platform was available under the domain www.safemarkets.com. The web is full with complaints and warning about www.safemarkets.com. Now they are trying to rip off their customers under a new domain www.safemarkets.biz.
The Power Couple of FOREX Scams
Financial market supervisory authorities in the UK, Germany, and Austria have warned investors against safemarkets as FinTelegram reported. On September 18, 2018, we reported about the Cybercrime Case SafeMarkets and its background. However, the FOREX scam perpetrators in Sofia cannot be prevented from ripping off clients. Well, they need to finance hundreds of employees in their Boiler Rooms in Bulgaria, Serbia, Montenegro, and other countries. Within days after our reports the dot-com domain was closed, a new domain was registered and the site was online again and the Boiler Rooms can acquire customer money again.
The new domain www.safemarkets.biz was only registered as of September 19, 2018 via the crypto-offshore paradise Marshall Islands (read our report on the Marshall Islands here). Gal BARAK and his friends have registered some of their shell companies in this crypto-paradise. SafeMarkts continues to be operated by Optiumcommerce OU, which is registered in Estonia. The boiler rooms are still operated by E&G Bulgaria under the management of Gal BARAK and Marina ANDREEVA. As before, customers in Germany, Austria, and the UK are being attacked.
The investigating authorities have informed us that for the FOREX Scammers in Sofia the German-speaking markets represent a special focus and therefore most of the scammed investors are located there.
Hands off SafeMarkets and all unregistered FOREX traders.