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Tag: STSRoyal

Wellington Holdings, Solid Invest, and the huge Capital Letter scam network

BaFin Ben -
It is indeed a huge scam network. Scams will typically either take offshore companies or simply invent fake companies. Only rarely, they are operated by companies in Europe as is the case with the Capital Letter scam network. Capital Letter GmbH, registered in Munich, Germany was the operator of several large scams until the end of 2020. In addition, two other companies also registered in Germany, Brunnlitz GmbH and Tokkata Software GmbH, participated in the scams. All three companies are operated by Ukrainian individuals; all received warnings from regulators.

German-Ukrainian Capital Letter Scam Group and its payment facilitators

BaFin Charlene Lensburg -
Against the German Capital Letter GmbH and its network of offshore entities and scams such as BrightFinance, SolidInvest, GFXRoyal, STSRoyal, STSCrypto, or GFXFinance, various European regulators such as the UK FCA (here), BaFin (here), or the FMA (here) have already warned and issued Cease and Desist Orders over the last months. The Italian Consob has ordered a blackout of the sites (here). However, the scammers are unimpressed. Some scams are still active. Now the UK Financial Conduct Authority (FCA) issued a new warning.

BaFin issues cease and desist orders against illegal payment processors

BaFin Mark Lagarde -
On September 29 and 30, 2020, the German Financial Market Authority BaFin issued several Cease and Desist Orders against German companies that provide payment processing services without the appropriate authorization. The BaFin order against the German companies is related to the international broker scams GiroFX, STSRoyal, and Fibonatex against which other regulators have already issued warnings.

Investor Warnings – Austrian FMA warns against broker scams – illegal payment processors exposed

BaFin Mark Lagarde -
The Austrian Financial Market Authority FMA has recently issued several investor warnings. Specifically, the FMA warns against the broker scams Tradixa, GFXRoyal (GFX Finance), HBC Market (HBC Markets), and BSB Global. The FinTelegram Research Team has looked at the special features of these scams. And this is what we found:

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