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Tag: Forex Time Group

December 29, 2021

R4I – Connections between Alpari, Forex Time, and ForTrade!

The Spanish regulator CNMV has recently issued an investor warning against the broker Alpari, operating illegally in Europe via the offshore entity Alpari Limited, registered in St. Vincent & The Grenadines. We uncovered Praxis Cashier as a facilitating payment processor. From the information available to FinTelegram, it seems that die Alpari Group is related to the Forex Time Group and the ForTrade Group. Both are brokers regulated by the UK FCA and the Cyprus CySEC.

Swiss Regulator Seizes $15 Million from Private Bank Mirabaud Connected to a Vast Money Laundering and Tax Evasion Case!

Swiss regulator FINMA has seized $15 million from Geneva-based private bank Mirabaud & Cie for serious breaches of financial market law and money-laundering obligations. The bank failed to conduct proper due diligence on a deceased businessman accused of tax evasion, managing up to $1.7 billion in assets linked to him. Despite Mirabaud's efforts to keep the case private, a Swiss court has now made it public.

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Does Sam Bankman-Fried’s Appeal Stand a Chance?

Sam Bankman-Fried’s legal team has filed an appeal to overturn his 25-year sentence, arguing that his trial was tainted by bias. The appeal claims that crucial evidence, including the solvency of FTX, was withheld from the jury. However, legal experts are skeptical about the chances of success, given the high bar for overturning such convictions. Lesson to be learned: bankruptcies are dangerous for all concerned.

Wanted: Connectum Voluntarily Restricts Business After FCA Audits and Vanished Into Thin Air!

Connectum, once a key player in facilitating payments for cybercrime organizations, has seemingly vanished after voluntarily restricting its business operations following FCA audits. The payment institution, now controlled by Cambodian PEP Sokha Heng, stopped offering services as of May 22, 2024, and its email address is no longer functional—raising concerns about the company’s current status. Connectum is wanted by fund recovery organization EFRI for victim compensation payments.

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Global Law Enforcement Action Dismantles Ghost Platform Used by Organized Cybercrime!

In a coordinated international crackdown, authorities have dismantled the Ghost encrypted communication platform, which criminal organizations had used for activities including drug trafficking, money laundering, and violent crime. Over 50 arrests were made globally, and drugs, cash, and encrypted devices were significantly seized. Europol led the operation, which involved law enforcement from nine countries.

Cyprus Real Estate Firm Partners with Notorious CryptoProcessing for Crypto Payments! And Some Background!

Anything is possible in Cyprus. Especially when it comes to cyber finance and illegal gambling and financial platforms. Cyprus was the global hub for illegal and fraudulent binary options. Providers of crypto services have also found a home there. The island is also home to the Dream Hill real estate company, which now offers the purchase of apartments via cryptocurrencies. The partner for this is CryptoProcessing. Here is the most important thing in Telegram style.