Request for information – The legacy of the TitanTrade binary options scam network

From FinTelegram’s point of view, the scam network around TitanTrade and Guy Galboiz is even worse than the binary options scheme of Yukom Enterprise with Lee Elbaz, Yossi Herzog and Kobi Cohen currently accused in the USA. In fact, it has been even bigger with more brands and defrauded retail investors across all continents.

According to a Reuters’ 2016 special report, the binary options scheme TitanTrade was the successor to NRGbinary. Both binary options schemes were organized by Israeli Guy Galboiz. In 2013, Guy Galboiz himself was also a director of the UK companies NRG Capital Limited. The company was dissolved in 2014. Since then, Galboiz has operated its companies through frontmen, nominee directors and trustees. Galboiz was active globally with its binary options scams between 2013 and 2017 and has attracted tens of millions of thousands of retail investors.

Galboiz is also associated with other large binary options scams such as ICoption, AlgoCapitals, PWRtrade or AlfaCapitals. He is one of the great attackers of the binary options era. Here is our report.

Powered by Northwestern Management Services Limited

Guy Galboiz‘ TitanTrade and the associated broker scams have been established by the notorious Northwestern Management Services Limited (NWMS) and its people. They provided the necessary trustees and nominee directors such as Genevieve Magnan or Vanessa Payet. We know NWMS from a lot of other Israeli binary options and broker scams.

Associated Entities

Following the typical pattern of a broker scam, TitanTrade’s website has been associated with a lot of different entities:

For their Australian operation, the TitanTrade scheme established a separate organization to care about client-victims payments.

• Allianz Metro Pty Ltd,
• Transcomm Global Pty Ltd,
• Sansen Pty Ltd, or
• IMC Holdings Pty Ltd

Beneficial owners

Investigations by the authorities in various jurisdictions have revealed that TitanTrade, NRGbinary or ICoption and a large number of front companies are always operated by the very same “set of perpetrators” and their entities. These are the companies:

• MIG G.A. Marketing Finance Ltd (now GTech Media Development Ltd),
• Ultra Solutions MG Ltd and its subsidiary
• Ultra Solutions MG /UK) Ltd and
• Primero Capital Solutions Ltd.

According to the documents available to FinTelegram, these companies, in turn, are controlled by the two persons

• Guy Galboiz and
• Stefan Trasca.

The beneficial ownership and&or control over the schemes was also confirmed by a written statement from Eyal Nachum who was involved in some of the binary options scams mentioned with his payment service companies Payotech Ltd, Pay o Bin Ltd and Moneta International UAB.

Involved People

The TitanTrade scheme had an ambitious global approach. Starting from Israel, retail investors have been attacked in Europe, North America and Australia. The Australian branch is of particular importance. Here are the key players:

The boiler rooms were managed by Guy Galboiz in Israel and his Romanian partner Stefan Trasca in Romania. As Reuters correctly states in its 2016 report, the Israeli MIG G.A. Marketing Finance Ltd (MigFin) was the operator of the boiler rooms for NRGbinary, TitanTrade, ICoption, and other schemes.

TitanTrade‘s activities in Australia were organized by Eustace “Tony” Senese, his wife Sandy Senese and his son Cameron Senese. Essentially, they managed the payment traffic infrastructure required for Australia. For this purpose, various companies such as Allianz Metro Pty Ltd, Transcomm Global Pty Ltd, Sansen Pty Ltd, or IMC Holdings Pty Ltd were operated.

In 2002, the Australian citizen Tony Senese was already sentenced to seven years in jail over misappropriation of investor funds in the collapsed financial services firm, EC Consolidated Capital.

Liaison officer between Australia and Israel was, according to the information available to us, Yoav Ida. Born in 1959, the businessman coordinated the activities of the Senese family around TitanTrade.

The Australian Proceedings

Since August 2016, the Australian regulatory authority ASIC has been taking active action against TitanTrade. After several warnings in 2016 and a court ruling prohibiting TitanTrade from continuing operations, a lawsuit was filed against the operators of TitanTrade and TradeTTN in November 2017.

ASIC successfully froze the assets and bank accounts of the Senese family. In July 2018, the ASIC won a court case against Tony Senese and his son Cameron and their company Transcomm Global Pty Ltd for contempt of court. The Seneses had taken money time and again despite the ordered freeze on TitanTrade’s funds. The court ordered $80,000 penalties in October 2018.

Regulators’ warnings and legal proceedings

The TitanTrade scheme has received warnings from financial market regulators of various regulatory regimes. In Australia, ASIC is also currently taking legal action against the schemes’ Australian perpetrators. Below are a few warnings against the TitanTrade scam:

• the Ontario Securities Commission (OSC) issued a warning in March 2015,
• France’s financial market regulator (AMF) in Sept 2015 and included Titan Trade in its blacklist.  
• In April 2016, the U.S. Commodity Futures Trading Commission’s (CFTC) included Titan Trade in its RED List
• in April 2016, the Italian watchdog CONSOB issued a public warning against TitanTrade
• In Sept 2016, New Zealand’s FMA has issued an alert against Titan Trade as well
• in Aug 2016, Australian ASIC issued a public warning against TitanTrade;
• In November 2017 the Australian ASIC took further actions and filed a lawsuit against the operators of TitanTrade and TradeTTN.

Share information with FinTelegram

If you have information about TitanTrade and/or the persons, companies, and brands mentioned, please report it to the FinTelegram Research Team via our whistleblower system. In the interest of the victims and a safer online financial market.