Maxigrid | FinTelegram News

December 18, 2020

Maxigrid Group Legacy – Australian AGM Markets and EuropeFX

Agents in different countries are searching hard for Yossi Herzog and his co-conspirators. There is still a need to solve the binary options scams. Lee Elbaz, the former CEO of his Yukom scheme, has been sentenced in the U.S. to 22 years in prison and $28 million in restitution payments. While Herzog is on the run, his Australian activities around AGM Markets with Yossi Ashkenazi are also coming before the courts. And the trail leads to Cyprus to the Maxigrid Ltd of Roy Almagor and his Maxiflex Ltd with EuropeFX. Both companies are CySEC-regulated CIFs.

December 11, 2020

EFRI Campaign – scam victim sues CySEC-regulated Maxigrid for damages

The Maxigrid Case is about the activities of the CySEC-regulated investment company (CIF) Maxigrid Ltd in connection with the broker scams RoyalsFX and LincolnFX. The company has processed payments from victims of these scams through its crypto platform BitandBuy as well as through its bank accounts with the Lithuanian GlobalNetint (GNI). While BitandBuy vanished and GNI closed the accounts a scam victim is now suing Maxigrid with the support of EFRI for compensation for the loss.

November 27, 2020

CySEC confirms crypto regulation – What it means for Maxigrid and BitandBuy!

Maxigrid Ltd is a regulated Cyprus Investment Firm (CIF) and has made its crypto platform - as well as its bank accounts with GlobalNetint - available to scammers and acted as a payment processor for them. The Financial Ombudsman Service of the Republic of Cyprus purported that the CySEC would not regulate crypto assets. Apparently, it does. The CySEC has issued a guideline on how CIFs should deal with crypto.

November 5, 2020

Maxigrid Case – GlobalNetint allegedly terminated bank accounts

Maxigrid Ltd of the Israeli FinTech entrepreneur Roy Almagor is a CySEC-regulated investment firm. Despite the regulation, Maxigrid has supported scams like RoyalsFX or LincolnFX as a payment processor according to the information available to us. Payments from client-victims of the scams were made via the Lithuanian GlobalNetint (GNI), among others. Allegedy, GNI terminated the bank accounts of Maxigrid, Roy Almagor, and related entities.

October 8, 2020

Maxigrid Case – Cyprus Financial Ombudsman confirms regulatory violations but doesn’t care!

Cyprus is really dark territory within the regulatory regimes in the EU. In plain sight, CySEC-regulated investment firms operate scams and/or facilitate them with their financial services. As in the case of Roy Almagor's Maxigrid and its meanwhile vanished BitandBuy crypto investment platform. Even the Financial Ombudsman Office has found that Maxigrid has violated regulatory requirements. However, the office does not feel responsible for customer complaints for very strange reasons.

September 25, 2020

CySEC Tourism – More scams and victims of Maxigrid’s BitandBuy fraud facilitator identified

Sometime in April 2020, the discussion with Maxigrid started. A customer lost several hundred thousand Euros via the broker Scam RoyalsFX. He had made the deposits on the instructions of RoyalsFX via the BitandBuy crypto platform of the CySEC-regulated Maxigrid. He lost everything and involved FinTelegram in the complaint and shortly afterward BitandBuy disappeared without a trace. However, more scams and victims appeared after our Request 4 Information in June 2020.

August 27, 2020

FinTel Ombudsman – Maxigrid lawyer urges clients and scam victims to shut up

The story around the broker scams RoyalsFX and LincolnFX. These two broker scams have been using the CySEC-regulated investment firm Maxigrid Ltd (www.maxigrid.com) to process deposits from client-victims. Some of the victims made deposits via the now-vanished Maxigrid crypto platform BitandBuy and others without any crypto disguise to Maxigrid's bank account at the Lithuanian GlobalNetInt. Maxigrid denies any involvement in scam business and/or respective client allegations and threatens complaining customers with lawsuits.

August 16, 2020

CySEC Scam Tourism – The Israeli Maxigrid Network attacking EU investors

This is the second part of our series about CySEC Scam Tourism which has its roots in the era of binary options. In this period between 2010 and 2017, mainly Israeli financial entrepreneurs came to Cyprus en masse to set up their CySEC regulated Binary Options Brokers. Simona Weinglass, an investigative reporter of The Times of Israel, called it Israel's vast and amoral scam industry. The CySEC has not made things too difficult for these foreign binary options scammers.

Category: Maxigrid