The German regulator BaFin has announced investigations against EUAktien (https://euaktien.de). The scam broker’s website does not provide any information about the operators. An address in the German financial center of Frankfurt is given. We found Theegateway and payrexx as payment processors. Moreover, we also found UK Party Events Limited as an illegal payment processor receiving money in the name of EUAktien. The broker scam exclusively attacks German-speaking consumers.
|Legal entity||not known|
|Payment processors||Theegateway (https://theegateway.com)|
UK Party Events Limited (UK)
The scam narrative
BaFin concludes that the EUShares website indicates that the operators of the platforms offer unauthorized banking transactions or financial services in Germany. They also make unauthorized use of the logo of the German Federal Ministry of Finance with the words “Finanz TÜV” placed underneath it and untruthfully claim to be subject to supervision by the Cypriot state financial regulator Cyprus Securities and Exchange Commission (CySec).
Via the two payment processors Theegateway and payrexx, deposits can be made using bank transfers, credit and debit cards, PayPal, Trustly and other ways. UK registered UK Party Events Limited of Briton Joel Herzog receives funds from victims on his bank accounts for the EUAktien scammers and acted as part of the money laundering chain.
The operators behind EUShares also ran the now disappeared EUSchild broker scam against which BaFin has also warned (see report here).
If you have any information about EUAktien and its operators, please share it with us through our whistleblower system, Whistle42.