Tag: CS Compliance Service

On May 8, 2018, the German regulator BaFin issued an order that Kai Petersen's FinTech Service GmbH, registered in Dusseldorf, Germany, should cease support for scam brokers. An appeal against this order was denied by the court in Frankfurt. In September 2019, the U.S. SEC filed a complaint against Kai Petersen and his Israeli partners Gil Beserglik and Raz Beserglik charging them with binary options fraud. FinTelegram has reported and Kai Petersen has contacted FinTelegram to contest on of ten counts.

Kai Christian Petersen, who lives in Düsseldorf, Germany, was a major player in the binary options and forex fraud industry between 2014 and 2020, directly or indirectly controlling a number of companies through which scams and boiler rooms were operated and tens of thousands of retail investors were defrauded of hundreds of millions of Euros. The SEC claims that with the three scams, Bloomberg Options, Morton Finance, and Starling Capital, Petersen and his accomplices ripped off $100 million. And these were only three of many other scams.