Attacking Europe – Serbian Boiler Room Operator Tera Media and the Dutch Scam Axis

Belgrade boiler room Tera Media with Nostro Technology and FGM Technology scams
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The boiler rooms in Belgrade are still active. Officially, they call themselves call centers, business process outsourcing (BPO) or marketing companies. Essentially, they are illegal boiler rooms. Their agents attack retail investors in the EU with fraudulent forex or crypto products. The dozens of boiler rooms in Belgrade are mostly run by Israeli managers. The various EU authorities estimate the damage caused by these boiler rooms in Belgrade at several hundred million. Over the last few months, EU investigative agencies have tracked down the Boiler Rooms and their operators through covert operations and V-people. FinTelegram has been confirmed by the authorities that a large number of these boiler rooms have been identified and their agents have been captured.

Tera Media and its shareholders

One of these large boiler rooms in Belgrade is operated by Tera Media DOO located at Omladinskih Brigada 88 in Belgrade’s Airport City Business Complex. The shares of this company initially were held by Nostro Technology OÜ, registered in Estonia (EU).

Currently, FGM Technology Ltd, registered on the Marshall Islands, is recorded as a shareholder in the Serbian companies register. Numerous financial market supervisory authorities such as UK FCA have issued investor warnings and cease and desist against both Tera Media DOO shareholders. These companies are managed as operators of large binary options and broker scams such as 10Markets or PrestigeFM. One of the call centers (boiler rooms) behind this was Tera Media DOO in Belgrade.

Legal Entity


Scam Brands


Tera Media DOO Maja Rajačić, Floris Waals, Gaele de Graaf 10Brokers, XLRtrader, PrestigeFM, GlobalFX n.a.
Nostro Technology OÜ
renamed into Euro Wealth OÜ
Zoltan Korcsog (HU), Iuliia Davydenko (UA), Floris Waals, Gaele de Graaf 10Brokers, GlobalFX, XLRtrade, PrestigeFM UK FCA, CONSOB, Finantsinspektsioon, CNMV, BaFin
FGM Technology Ltd Zoltan Korcsog (HU), Yuliia Davydenko (UA) 10Brokers ASIC, UK FCA

Front-People and Dutch Scam Axis

The Hungarian citizen Zoltan Korcsog is the frontman of many big broker scams. He works closely with his Israeli co-conspirators in the operation of big scam brands. One of his accomplices is the Ukraine citizen Iuliia Davydenko. Both are heavily involved in the international network of companies behind the Belgrade Tera Media boiler room. They are closely connected to the Dutch scammers Floris Waals and Gaele de Graaf.

At this point, it should be noted that the “Dutch Scam Axis” with Floris Waals and Gaele de Graaf were connected to the scam network of the arrested German Uwe Lenhoff. The authorities refer to this Dutch scam axis as a spin-off of the Lenhoff Group.

Tera Media in the Airport City of Belgrade is certainly one of the larger and more aggressive Serbian attackers on EU retail investors. The EU authorities will hopefully take action against these people and their backers soon. The activities of Tera Media should be stopped as soon as possible in the interest of small investors in Europe.

Share Information with FinTelegram

If you are aware of information on Tera Media, the Dutch Scam Axis or other boiler rooms and scams please share your information with the FinTelegram Research Team. Please use our whistleblower system to share the information anonymously.

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