Update On The Illegal “Euro Wealth-Nostro” Broker Scheme

Euro Wealth Nostro Scheme with Zoltan Korcsog and Iuliia Davydenko

FinTelegram received some updates from its whistleblowers regarding the vast fraudulent “Euro Wealth-Nostro” broker scheme that is involved in the operation of at least 10 identified illegal broker sites with thousands of victims and millions of damage to those victims. FinTelegram recently published an article on this scheme already.

Serbian Boiler Room Identified

We received information that the Serbian Tera Media DOO (PIB 110156540, MB 21307815) with its registered office in Beograd operated one of the boiler rooms for this “Euro Wealth-Nostro” broker scheme of Floris Pieter Bartel Waals, Gaele de Graf und Zoltan Korcsog. Moreover, Ukraine citizen Iuliia Davydenko is involved in this scheme in a leading position. According to the Serbian commercial register, the UK-registered Nostro Technology Limited the company’s sole shareholder. Serbian Maja Rajačić is the company’s registered director.

This Nostro Technology Limited, in turn, is the only partner of the UK-registered Nostro Partnership LP which is controlled by Zoltan Korcsog. Before him, Iuliia Davydenko was in control of this partnership until October 2017. The partnership was dissolved in August 2018. Nostro Partnership LP was involved in a variety of illegal binary options, forex, and crypto broker sites such as XLR Trade.

The Hungarian Zoltan Korcsog was not only in control of Nostro Partnership LP but is also director and shareholder of the Estonian Euro Wealth OÜ, previously known as Nostro Technology OÜ and AllTechPro OÜ. Iuliia Davydenko, on the other hand, is the director of AF Technologies Limited which was previously known as MRT Technology Ltd. Furthermore, she is the director of UK-registered Kho Tech Ltd. All of those companies under their changing names have been involved in illegal and fraudulent broker sites:

  • MRTMarkets.com
  • GlobalFXm.com
  • TopTrade.fm
  • Prestige.fm
  • RoyalTrade.fm
  • 10brokers.com
  • CFDS100.com
  • AlphaCapital.fm
  • VEmarkets.com
  • XLRtrade.com

From what we learned so far, the conversion and retention services for these illegal broker sites listed above was handled via boiler rooms in the Balkans. Tera Media DOO is just one of those illegal operating boiler rooms. The Montenegrin MRT Technology DOO Podgorica has been used payments services provider (PSP) to the scheme. This PSP has been controlled by Iuliya Davydenko and her Kho Tech Ltd.

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In case you have information regarding the “Euro Wealth-Nostro” broker scheme and/or its perpetrators please share them with our FinTelegram research team via our whistleblower system. Together we can make an impact!

A big thank you to all whistleblowers from the FinTelegram team!