Investment Scams | FinTelegram News

Category: Investment Scams

December 31, 2021

Year-end warning – Stay away from BitPlam and BitBuysCoin crypto Ponzi schemes!

Shortly before the end of the year, the UK FCA issued a warning against the crypto scam BitBuysCoin. The website states BitBuysCoin Ltd in London as the operator. This company does not exist. We have further determined that BitBuysCoin is just another mutation of a crypto-based HYIP or Ponzi scheme that also operates BitPlam or Earn Coin Today.

December 28, 2021

Spanish CNMV issues warnings against 6 illegal financial offerings

The Spanish regulator CNMV issued investor warnings against six illegal financial offers on December 27, 2021. Among them are some forex brokers as well as the offer of gold mining operator MinexCorp Gold Mining and crypto exchange DCMGROUP. Pay attention to the CNMV's warning and stay away from these offers. Below you can find the list of the new warnings.

Investment Scams

December 11, 2021

Ridiculous! The Everlast DeFi Hedge Fund is nothing but a fraud!

Currently, the Everlast a/k/a Everlast Fund scheme (https://everlast.fund), posing as a "world's first Defi Hedge Fund based on ripple," is active and attacking victims in Europe and Russia. The operator is stated to be Everlast Investment Ltd, allegedly registered in the Marshall Islands. The website claims that Everlast Fund would be regulated in the U.S. Allegedly, the well-known MLM perpetrator Jan Kostrzewa is the person behind Everlast, a very poorly done scam. Stay Far Away.

November 17, 2021

Attention! Austrian regulator warns against Red Rock Investment scheme

The Austrian FMA has issued a warning against the Red Rock Investment scheme. It operates without authorization and offers a vast portfolio of financial investments for consumers on its website, such as stocks, bonds, ETF, and crypto. Red Rock Investment Management GmbH, registered in Vienna, is the operator of the scheme. Torsten Kratz and Michael Bachmann are the registered managing directors. The scheme is part of the public-listed German Red Rock Capital Group.

October 28, 2021

R4I – Fraudulent investment schemes of Ronald Shane Flynn!

California's U.S. Attorney's Office charged California resident Ronald Shane Flynn a/k/a Ronnie Shane, 57, with investment fraud. He allegedly defrauded more than 100 investors out of $14M in alleged pre-IPO investment opportunities and worked with boiler rooms in the Philippines. The U.S. regulator SEC had charged Shane, his Vuuzle Media Corp., and his co-conspirator Richard Marchitto with investment fraud in January 2021.

October 11, 2021

Consob Monday – Italian regulator orders to blackout six financial websites!

Like clockwork, the Italian regulator Consob has again brought the news about websites closed for access by Italian consumers every Monday because of illegal financial offers. Today, six new sites have received black-out orders. Since July 2019, the Italian watchdog has blocked 522 websites for the Italian market. Consob is currently, unfortunately, the only European regulator that has this power in regulatory enforcement. It would be desirable if other jurisdictions also provide their regulators such authorization.

October 10, 2021

Urgent Alert! Mandavie FX broker a/k/a FX ProStation scam is after you!

First of all, we would like to thank our whistleblower and fraud investigator in Sweden for the information. The Mandavie FX (www.mandaviefx.com) broker scam is currently actively hunting for European victims. In doing so, the fraud also operates with the brand FX ProStation a/k/a Pro FXStation (www.fxprostation.com) and poses as a regulated wealth management firm Mandavie Swedish Trust KB (www.mandivietrust.com) in Sweden. This is all super bullshit of course. Mandavie FX and its associated brands and entities are scams.

October 6, 2021

Massive FBI enforcement action against financial cybercrime organization in Israel

The U.S. Federal Bureau of Investigation (FBI) and Israel Police raided a Tel Aviv-based company in a joint operation. They arrested 26 Israelis on charges of running a financial cybercrime organization. Simone Weinglass reports in the Times of Israel that this cybercrime organization is active in Israel and Tel Aviv. No names of companies or individuals are known yet. The authorities suspect that the individuals have defrauded millions from dozens of foreign victims, among them U.S. citizens.

September 24, 2021

German regulator warns against Capstone Trading Group investment scheme

BaFin announced investigations into UK-registered Capstone Trading Group Ltd a/k/a Capstone Assets Ltd. The two Romanians, Catalin Stefan Ivan and George Laurentiu Mihalcea, control this company. Within the last six months, the company has changed its name twice. The previous names were UMEEST Limited in Bramfield Assets Solutions Ltd. The investment scheme offers fixed deposits, wealth management products, equity, capital investments, and other assets investments via telephone.

September 16, 2021

Gery Shalon – The Plea Deal and the forfeited fortune of a cybercrime mastermind

In 2015, U.S. prosecutors charged the Georgia-born Israeli citizen Gery "Gabi" Shalon in a twenty-three count Superseding Indictment. He was charged with computer hacking, securities fraud, aggravated identity theft, illegal online gambling, illegal money transmitting business, and money laundering. Most of the files are still unsealed. What is known now is that in April 2017, Shalon has pled guilty to all 23 counts and made a plea deal with prosecutors that included transferring all seized funds and assets to the United States. We are talking about a real big fortune. We are talking about a real big fortune including a $74.7M bank account.

September 1, 2021

Attention!WorldMarkets scam still active with an illegal Polish payment processor

WorldMarkets is a huge investment scam that has been active for years. We have reported about it several times. Financial market regulators like the UK FCA have issued warnings against the WorldMarkets scheme. However, the fact is that WorldMarkets is still active. In doing so, the scam works with a wide variety of ever-changing payment processors. Most recently, victims have reported to us that they have transferred payments to the bank account of the Polish public relations company Wolfs Trading Blockchain Technology S.A.

Investment Scams

August 24, 2021

Don’t be a fool! Stay away from the COREVISIONTRADE crypto investment scam

Crypto investment platform COREVISIONTRADE is a scam. There is no doubt about it for us. The stated operator is COREVISIONTRADE LIMITED, allegedly registered in the UK Companies House with Company No 012345678. This company does not exist. The scam offers various crypto investment plans that are supposed to bring up to 100% return within a few days. You can currently only deposit in crypto like BTC, Litecoin, or ETH. The scam used to accept Russian Perfect Money but no more. Deposited cryptos or FIAT are doomed, as victims tell us. Stay far away.