David Bily | FinTelegram News

Tag: David Bily

February 28, 2023

Attention: Orange Compliance Rating For Expanding Offshore Broker Moneta Markets!

FinTelegram is known and hated primarily for its critical reviews. In this respect, we may (somewhat) disappoint this expectation with our new review of Moneta Markets by David Bily. We have upgraded the broker's compliance rating from red to orange, honoring the regulatory actions taken in recent months and the positive customer feedback. However, some of the broker's key target markets are still covered without regulatory permissions. Here is our updated review.

October 17, 2022

Offshore Broker Moneta Markets Still Solicits EEA Residents Without Authorization!

Moneta Markets is a trading name of Moneta LLC, St. Vincent & The Grenadines. In Australia, Moneta Markets is acting as an authorized representative of AGC Capital Securities Pty Ltd, regulated by the Australian Securities & Investments Commission (ASIC). In South Africa, the scheme is an authorized Financial Service Provider regulated by the Financial Sector Conduct Authority (FSCA). However, it does not have regulatory permission for EEA jurisdictions and violates regulatory rules.

September 27, 2022

Confirmed! Moneta Markets With New ASIC License No Longer Part Of Vantage Group!

FinTelegram reported back in August 2022 that Moneta Markets appeared to no longer be part of Vantage Group. In an executive interview with Finance Magnate, founder and CEO David Bily confirmed the breakaway from the Vantage Group. He also informed that Moneta Markets would now also operate with an ASIC license in Australia. However, Moneta Markets still operates unauthorized in Europe and violates regulatory rules. Here is another update.

August 16, 2022

Interesting! Offshore Broker Moneta Markets No Longer Part Of the Vantage Group!

Until recently, Moneta Markets used to be a trading style of the Vantage Group with the offshore entity Vantage Global Limited, registered with the VFSC in Vanuatu, as its operator. European regulators have warned against the unauthorized and thus illegal activities of Moneta Markets soliciting consumers in the EU. For a few weeks, Moneta Markets has been operated by Moneta Markets South Africa (Pty) Ltd, an FSCA-regulated FSP, and Moneta LLC, registered in St. Vincent & The Grenadines.

June 7, 2022

Offshore Broker Moneta Markets Increases Crypto CFD Leverage!

Moneta Markets is a trading style of the Vantage Group. The offshore entity Vantage Global Limited, registered with the VFSC in Vanuatu, is the operator of Moneta Markets and other offshore brands. European regulators have warned against the unauthorized and thus illegal activities of Moneta Markets soliciting consumers in the EU. Today, the offshore broker increased the leverage for crypto CFDs up to 1:100, which is again a violation of regulatory frameworks in Europe and other regulatory regimes.

May 19, 2022

Update On Vantage Group And Its Offshore Activities!

The Vantage Group is a global, multi-asset broker headquartered in Sydney, Australia, d/b/a Vantage, VTMarkets, or Moneta Markets. The group runs several offshore entities to circumvent regulations in the UK, Europe, and other regulatory regimes. According to its latest press release, Vantage works with a global team with over 1,000 staff, spread over 30 offices located. In February 2022, Vantage signed a multi-year sponsorship deal with McLaren Racing and has become an Official Partner of the McLaren (MX) Extreme E team. Here is another update.

February 18, 2022

Attention! Unauthorized VT Markets and Moneta Markets still attack European consumers!

As reported already, Vantage Group operates various brands and domains through legal entities in different regulatory regimes. The offshore entities are Vantage Global Limited, regulated by the VFSC in Vanuatu, which operates the Moneta Markets and Vantage brands. Vantage International Group Limited, regulated in the Cayman Islands by CIMA, operates the offshore mutation of VT Markets. Both VT Markets and Moneta Markets are subject to warnings from European regulators. They solicit consumers in the EU without authorization and without proper onboarding.

January 31, 2022

Compliance Issues? The offshore brokers of the Vantage Group!

Vantage (previously VantageFX) is an offshore broker of the Vantage Group besides VT Markets and Moneta Markets. Since the beginning of 2022, Vantage uses new domains and logos. Vantage Group operates with regulated entities in the UK and Australia. The offshore activities are operated via Vantage Global Limited, Vanuatu, and Vantage International Group Ltd, Cayman Islands, with whom clients enter into an agreement. These offshore brokers are also active in Europe, soliciting clients and their funds.

January 30, 2022

Attention! Offshore broker Moneta Markets attacks German consumers!

FinTelegram has reported several times on Moneta Markets, an offshore broker regulated by the VFSC. The broker is operated by Vantage Global Limited, part of the Vantage Group. Currently, Moneta Markets is attacking German-speaking consumers and asking them to make deposits. Contrary to Moneta Markets' statements, the broker solicits clients in Germany and the EU without proper authorization. The Italian Consob has already issued an investor warning.

December 22, 2021

Investor warning against offshore broker Moneta Markets and the Vantage Group

We recently communicated with David Bily, founder of Moneta Markets, to get the background of Vantage Group of companies. David confirmed that Moneta Markets is operated as a white label solution of Vantage Group by Vanuatu-based and VFSC-regulated offshore entity Vantage Global Limited. David opined that a license or permission would not be required for Moneta Markets in the EU. However, Consob sees differently and recently issued a warning against Moneta Markets and Vantage Global Limited.

Revolut Founder and CEO Offloads Shares Worth Between $300 to $300 Million!

Revolut founder and CEO Nik Storonsky offloaded a significant portion of his shares in the fintech giant during a secondary offering in August, raising between $200 million and $300 million. This sale still leaves him with a majority stake valued at $8 billion. As Revolut continues to post strong financial results and expand its services, all eyes are on the company’s next move, with an IPO potentially on the horizon.

Jeton Group Analysis: Facilitating Online Casinos Beyond Compliance!

FCA-regulated Jeton Group, a high-risk payment processor, has been deeply involved in facilitating transactions for illegal online casinos, including those operated by the Starscream Group. Jetonbank, a digital offshore bank regulated by the FSU in Dominica, has furthered these operations by enabling fiat deposits for players in unlicensed jurisdictions. This report calls for insiders to provide critical whistleblower information.

FinTelegram

Operation Niflheim: Brazilian Law Enforcement Targets $9.7 Billion Crypto Money Laundering Scheme!

Brazilian Federal Police have dismantled a major crypto-based money laundering operation, dubbed Operation Niflheim, targeting groups involved in laundering over $9 billion since 2021. The operation led to the issuance of eight arrest warrants and 19 search and seizure orders. The scheme used cryptocurrencies to funnel illicit funds from activities like drug trafficking abroad.

eToro Settles with SEC, Restricts Crypto Trading

Under its chair, Gary Gensler, the SEC is taking massive action against crypto companies in the U.S. The regulator believes that most coins and tokens qualify as securities, and therefore, the issuers and exchanges need appropriate registration. The U.S. subsidiary of the Israeli eToro broker scheme has also been sued for this reason. eToro settled with the SEC with a $1.5 million payment.

Crypto Crime Case FTX: Caroline Ellison Seeks No Jail Time for Role in FTX Fraud

Caroline Ellison, a former top executive in the collapsed crypto exchange FTX and former girlfriend of FTX CEO Sam Bankman-Fried, is seeking no prison time at her sentencing later this month. The lawyers cited her immediate and extensive cooperation with U.S. authorities when FTX collapsed in November 2022 and noted that the court's Probation Department recommended that she serve no prison time.