In the UK Companies House, you can find Aqua Digital Rising Ltd, registered since March 17, 2020. One of the beneficial owners is Brit Debasish “Dev” Dutta, also a company director beside Marc Edward Aspinall and Andreas Ruether. Interestingly, Yasin Sebastian Qureshi is listed as Founder and Head of Strategy on the website http://www.aquarising.com. And he is a large shareholder. Qureshi is known in Germany for founding the publicly traded The NAGA Group AG. There is also Aqua Index LLC d/b/a AllStars Trader (http://www.allstarstrader.com), which is the brokerage arm of Aqua Digital Rising. And then, there is Eureeca Limited, an FCA-registered investment firm controlled through the Cayman Islands.
Persons of Interest
It seems that the network of the founder and shareholder of The NAGA Group AG is actually much larger than it first appears. Yarin S. Qureshi most recently controlled CySEC-regulated Hanseatic Brokerhouse Global Markets Ltd (formerly Ava Trade Ltd) in Cyprus and sold it to The NAGA Group in early 2016 (please read this article here). In Germany, the then 29-year-old came to attention for obtaining a banking license from BaFin for his Varengold Bank. That was in 1998, so the mysterious Qureshi is now already over 50 years old. In addition to Qureshi, Dev Dutta, Andreas Ruether, and Marc Aspinall are also members of the Aqua Digital Rising executive team.
Many new investors
Acqua Digital Rising is believed to have only been operating its business for a short time. Details of the business are not available on the website. Inquiries are not answered. According to the UK Companies House, the company already has more than 60 shareholders. Among them are companies, institutions, and private individuals. The company has a capital of just under GBP 18,000, but more than 884 million issued shares with a nominal value of GBP 0.00002.
Via the AllStars Trader LinkedIn page, one learns that this is the offshore brokerage arm of Aqua Digital Rising, supposedly regulated by the Financial Services Authority (FSA) in St. Vincent and the Grenadines. Aqua Digital Rising also promoted Eureeca Limited (www.eureeca.com) on its website. This investment house, regulated by the UK FCA and the Securities Commission in Malaysia, presents itself similar to the NAGA Group in Germany as an investor network (equity crowdfunding platform) that sells and promotes shares of supposedly interesting high-growth startups. The founders of the company are Sam Quawasmi and Chris Thomas.
Vishal Kapoor, Head of Sales & Distribution at AllStars Trader used to be the CEO of FCA-regulated broker XTB Limited (www.xtb.com), or so he says on his LinkedIn profile. Also, an interesting connection. XTB is advertising with Jose Mourinho, one of the most famous football coaches in the world. XTB is controlled by the Polish citizen Jakub Zablocki and thus addresses, in particular, the Polish consumers.
No conclusion yet
We have not yet been able to make a judgment about the investor network around Yasin S. Qureshi, Sam Quawasmi, and their friends. In the next few days, we will try to take a closer look at the offer. In any case, we find it interesting that the network – to which we also count The NAGA Group – apparently stretches across the Middle East to Asia.
Before drawing a preliminary conclusion, we will also wait for further whistleblower reports, which we hope to receive on our Request 4 Information.