Victims of several scams have sent us payment documents proving that they made their deposits to the scams via PGSellers Ltd. Officially, PGSellers sells courses, ebooks, or education packages to would-be online traders. However, we have already discovered PGSellers as an illegal payment processor forYuanPay, IGM Holdings, HQ Trade, and FinoCapital. PGSellers is a registered merchant with several payment services providers and is owned by the British Paul Solinsky.
|Activities||Illegal payment services|
|Legal entity||PGSellers Ltd (UK)|
|Related individual||Paul Solinsky (British)|
|Related scams||Blokchains, YuanPay, Yuan Coin, IGM Holdings, HQ Trade, FinoCapital|
Most recently, victims have told us about the activities of PGSellers as a payment processor for the Blokchain scam with YuanPay and Yuan Coin that is massively advertised on Facebook.
We know from various researches that the sellers of so-called education packages or courses for consumers who want to learn online trading operate primarily as Introducing Brokers (IB) but also as illegal payment processors for scams. Victims of various scams have sent us payment documents showing that they have made deposits via PGSellers‘ bank accounts at PayPal, Deutsche Handelsbank, or Klarna.
Education Packages or FinanCollege are usually also registered as merchants with various payment processors and then receive funds from victims on behalf of the broker scams. In return, they receive high commissions.
If you have any information about PGSellers or BaseIT OÜ d/b/a FinanCollege, please share it with us through our whistleblower system, Whistle42.