During the last weeks, our FinTelegram Research Team has been working intensively on the broker schemes around FSM Smart, UFX and ParagonEX. According to the documents and information available to us
- the FSM Smart scheme is one of the largest in the illegal brokerage scene,
- UFX brand is owned and controlled by the ParagonEX people Haim Toledano, Saar Pilosof and Dennis-Hendrik de Jong and the website operated by ReliantCo Investments Ltd, which is regulated in Cyprus,
- UFX uses ParagonEX technology and infrastructure (see our report),
- Trade360 is also a customer and partner of ParagonEX and is operated by the Cyprus-regulated Crowd Tech Ltd.
Connections between Lexbond, FSM Smart and Crowd Tech?
In the course of the research on Lexbond Systems
The Austrian Financial Market Authority (FMA) recently issued a warning to investors against Swiss Invest FX (www.swissinvestfx.com), which is part of Lexbond scheme. Read our first analysis on this warning the scheme here on FinTelegram.
It is currently the factually and informatively supported hypothesis that the FSM Smart and the Lexbond scheme belong together. We also know this from whistleblowers who report on the shared use of boiler rooms in the Balkans. We found another Lexbond Systems OÜ in Estonia which is owned and headed by the Albanian Lorenc Xhepa who also runs a call center in Albania with his International Marketing Solutions Global.
If the operator data provided on CapitalTechFX were correct and Crowd Tech Ltd would actually be responsible for the site, this would not only violate regulatory requirements but would also establish a connection to Lexbond and FSM Smart. According to CySEC, the Cypriot regulatory authority, Crowd Tech Ltd is authori
However, CapitalTechFX may misrepresent the operator and use the name of Crowd Tech Ltd with fraudulent intent. We need more information to further our respective investigations.
Request for information
For further research, we request notifications from participants, insiders or victims of the above schemes via our whistleblower system.