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Investor Warning – KadoCapital broker scam facilitated by Praxis Cashier

KadoCapital facilitated by Praxis Cashier
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The KadoCapital scam (www.kadocapital.com) attacks consumers and retail investors in German and English with the Japanese approach with the slogan “The Art of Finance.” The scam is actually a poorly done white label mutation. The UK FCA issued an investor warning against KadoCapital a few days ago. We have once again discovered Praxis Cashier by Amit Klatchko as a payment processor for credit and debit cards in our review. Allegedly, the scam is operated in the Commonwealth of Dominica.

Amazingly, Praxis Cashier does not stop running scams like KadoCapital. Founder Amit Klatchko gets not tired to emphasize that he “actually” has no responsibility as a payment gateway provider. We call this an API-based scam-facilitator. BridgerPay founder Ran Cohen, who, like Klatchko, happily welcomes scam clients, argues in the same line. As much as Cohen and Klatchko hate, badmouth and snitch on each other, they believe their business is clean, and they have no involvement in the scams. Amen!

We advise all reputable financial service providers not to enter into a business relationship with Praxis Cashier and BridgerPay. As good as their technology may be, their business model is dubious. At some point, the responsible authorities will “reward” their approach with appropriate actions.

CategoriesFCA

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