On 11 May 2020, the Italian regulator CONSOB warned investors about the FirstCapital (http://www.firstcapital.fm) broker scam and its operators Sigma Consulting Ltd (Bulgaria) and Solt Corp Ltd (St. Vincent & the Grenadines). On March 30, 2020, the UK Regulator Financial Conduct Authority (FCA) warned against the Swiss Capital (http://www.swisscapital.fm) scam. Already on 24 December 2019, the FCA issued an investor warning about the Wealth Capital scam (http://www.wealthcapital.fm) and its official operator Astra Consulting OÜ (Estonia). We have received further information from victims of these scams and thus further information making us believe that they are operated by the very same network of scammers and boiler rooms.
Statement of Facts
We would like to submit a comprehensive Statement of Facts to authorities and regulators and ask our readers and whistleblowers for additional information.
According to the information available to us, we believe the the following broker scams are related and/or operated by the very same perpetrators and boiler rooms:
- Wealth Capital (http://www.wealthcapital.fm) operated by Astra Consulting OÜ (companies register entry)
- Swiss Capital (http://www.swisscapital.fm)
- TradeCenter (http://www.tradecenter.fm) operated by and Solt Corp.Ltd, St. Vincent & the Grenadines
- FirstCapital (http://www.firstcapital.fm) operated by Sigma Consulting Ltd, Sofia, and Solt Corp.Ltd, St. Vincent & the Grenadines (CONSOB warning here)
- Askobid (http://www.askobid.fm) operated by and Solt Corp.Ltd, St. Vincent & the Grenadines
Most likely, there are still more scam brands related to these entities. We have information that some of those scam brands are operated by boiler rooms in Belgrade.
Facilitating Payment Processors
We have noticed in the scams still online that once again the unregulated Cyprus-based Praxis Cashier of Amit Klatchko acts as a fraud facilitating payment processor. There is currently hardly a broker or investment scam that does not work with Praxis Cashier. Our FinTel Bureau has already put Praxis Cashier on the blacklist of payment processors many weeks ago.
Estonian crypto payment processors
Venus is operated by the Estonian crypto payment processor AM Estonia Services OÜ (companies register entry). SpeedyBits, operated by Estonian crypto FinTech Vivaro Quadra OÜ (companies register entry). This company has been granted one of the Estonian crypto licenses, which are available for a few thousand euros.
Victims of these scams indicated that they made deposits to these scams via the stated Estonian crypto exchanges. FinTelegram has already pointed out several times that these Estonian crypto licenses have no value due to the lack of efficient control and regulation by the Estonian authorities. They are the license of choice for the global cbercrime community.
Share your information
If you are a victim of one of these scams and/or have information about these scams or the payment processors involved, please share it with the FinTelegram Research Team via our whistleblower system.