What is Melissa BLAU doing next?
Since March 2018 Melissa BLAU is VELTYCO´s CEO. Her first official statement was done as of March 29, 2018, noting that the ESMA ban on Binary Options does not affect VELTYCO´s business model as any of the companies with which VELTYCO cooperates would be active in the Binary Options business (which will soon be banned). In anticipation of the ban, the relevant activities would have been discontinued. Well, that’s interesting. Especially when you consider that, according to its own annual report, VELTYCO still generated a considerable part of its turnover in 2017 with marketing revenues from the binary options sector. Here is the short explanation in the VELTYCO Annual Report 2017:
Obviously, sales in 2017 were massively positively influenced by marketing activities for binary option models. A fact which, in addition to the various financial market supervisory authorities in Germany (BaFin), Austria (FMA) and UK (FCA), should also be of interest to the company’s shareholders and a large number of fraudulent investors. In all the countries mentioned, the distribution of the business model of Option888 (Veltyco’s own brand) and ZOOMTRADERGLOBAL (previously also operated under “ZOOMTRADER“) is classified by the authorities as an illicit business model. This means that a significant portion of VELTYCO’s 2017 income from the marketing of illicit activities may have helped VELTYCO to injure investors.
Damaged investors (Option888 and ZOOMTRADER and ZOOMTRADERGLOBAL) have now filed fraud charges with law enforcement authorities according to countless reports from the Internet. However, it is not so easy for the injured investors or also for the law enforcement authorities to identify the respective legal operators or service providers. The prerequisite for this, however, is to understand the opaque network of companies, well, perhaps we can make a contribution to this.
The strange transactions around ZOOMTRADERGLOBAL
The activities around the ZOOMTRADERGLOBAL platform read like a short thriller and are characteristic of the approach of the main owners of VELTYCO.
Zoomtrader – a binary options broker running on the Tradologic software – has been operated by NOVOX Capital Limited, a company registered and licensed in Cyprus, at least since 2014. Starting in 2014, scam and fraud warnings about ZOOMTRADER increased on the Internet.
In September 2016, VELTYCO concluded a marketing agreement with NOVOX Capital Limited for the domain ZOOMTRADERGLOBAL according to an ad-hoc announcement dated September 22, 2016.
In addition, an option agreement for the acquisition of ZOOMTRADERGLOBAL (?) was concluded with a company Elsona Assets Limited, whereby a subsidiary of Elsona Assets Limited, DTIG Holding Limited, received the consideration for this option agreement, namely the shares in Veltyco. (see also report on Finance Magnates).
In March 2014 NOVOX CAPITAL LTD was punished by the Cypriot Financial Market Authority CySEC for not announcing the name change from ZOOMTRADER to ZOOMTRADERGOBAL.
Both brands obviously belong together. The logos are identical except for the addition “Global”. Both websites are white label solutions from TRADOLOGIC as well as VELTYCO’s own brand Option888.
The option agreement from September 2016 described above led to the TRADOLOGIC people becoming major shareholders of VELTYCO alongside Uwe LENHOFF.
According to the public information published on Tradologic’s website, 240 binary options websites were operated with TRADOLOGIC at peak times. After the almost worldwide ban on Binary Options, TRADOLOGIC now describes itself as a FinTech company offering trading solutions.
From NOVOX CAPITAL to FINEX LTD
Our searches for which company is currently the domain owner of ZOOMTRADER or ZOOMTRADERGLOBAL resulted in the following information.
- The ZOOMTRADER platform (www.zoomtrader.com) is obviously currently operated by CAPITAL FORCE LTD. The domain is held by CELESTIAL TRADING LTD. Both companies have been proven to belong to the network of companies around Uwe LENHOFF, the founder of VELTYCO. Both companies have received numerous warnings from financial market regulators in connection with binary options.
- The brand and platform ZOOMTRADERGLOBAL (www.zoomtraderglobal.com) was or is (?) operated under license from the Bulgarian FINEX LTD. This information can also be found on the archived website of www.zoomtraderglobal.com. The domain has also be registered by FINEX LTD. This FINEX LTD belongs to the TRADOLOGIC people (see Bivol database). FINEX LTD is registered in Sofia and has a license for asset management there as well as in Lithuania.
All brands are therefore still under the control of VELTYCO and/or its shareholders and/or its management.
The scam and fraud complaints on the Internet regarding the ZOOMTRADERGLOBAL and ZOOMTRADER platforms already fill several pages, with no difference being made between the brands either by investors or by the supervisory authorities. In this respect, VELTYCO will probably have to deal with the claims of both brands if the worst comes to the worst.
Because, once the complicated corporate network has been filtered apart, it is obvious that the damaged investors in the area of Option888 and ZOOMTRADER/ZOOMTRADERGLOBAL will probably also be able or should turn to VELTYCO with regard to their claims for damages.
The question now also arises as to what Melissa BLAU will do as CEO of VELTYCO. The announcements, warnings, and facts are at the table.
Moreover, in view of the countless LENHOFF and TRADOLOGIC companies, it is understandable that in the VELTYCO annual report sales with these companies are not correctly reported as “transactions with affiliated companies”. So, WE understand the difficulties in applying the IFRS in line with the legal requirements, but we doubt that the FCA, the investors or the cheated investors also accepts these false statements.