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Close Stock image. Facebook Twitter Email Whatsapp. Tim Healy June 29 AM. Facebook Twitter Email. There is no legal entity listed but an address in Hong Kong and fake people. From victim records, we know that Ford Beckett works with several legal entities in various offshore destinations. We learned that another scheme, Wisecroft, would be operated by the very same people.

Please stay away from Ford Beckett and Wisecroft. Read More. Categories Compliance Malta Financial Services Authority. FinTelegram reported that the Irish Joseph Gavin resigned from his post as CEO of the Maltese Financial Services Authority MFSA. Earlier this month, MFSA announced that Gavin would resign later this year. However, he resigned before the end of the Summer. The previous CEO, Joseph Cuschieri, has had to leave in disgrace, and the Acting CEO who succeeded him, Christopher P.

Buttigieg, is facing lawsuits surrounding his conduct as an MFSA official. A mess! Categories Broker Crypto Payments PayTechs. Listed NAGA Group announced that it is launching a VISA-approved card program in partnership with Solaris Group and its UK and Lithuanian-regulated Contis Group through its NAGA Pay scheme. As with other such crypto cards or, for example, Binance, NAGA users will be able to spend both fiat and crypto in real-time at the point of sale. The NAGA Pay app will unlock the "Pay with Crypto" feature for all customers in the app stores on 7 Sept , the company said.

According to his LinkedIn page, Mireli was previously the CIS regional manager of Casino Imperiya in Moscow in , while in he was the COO of Vulkantrade, also known as Vulkan K. I, a binary options company in Almaty, Kazakhstan, that had been purchased by SpotOption owner Pini Peter and that used the SpotOption platform. She further claimed that Mireli did not hold a position at any of the companies mentioned in the complaint. She warned that her client could make problems for the former employee if the case is not dropped.

It is unacceptable that the former employee should behave this way and cause my client unnecessary expense with the lies and falsehoods in the complaint. My client will work to get hold of the video footage from that time as well as other information in this case against the ex-employee. In September , Massimo, an Italian man who resides in Azerbaijan, sued an Israeli company known as Pay Trade Ltd. Massimo, in his 50s, alleged that Pay Trade Ltd.

operated the website Tradingbanks. com, which had purported to offer online forex trading to investors worldwide, along with the forex websites Trade com and Mxtrade. According to the complaint filed by his attorney Nir Friedman, Massimo was contacted in February by a man named Michele Rinaldi, with whom he had a prior acquaintance. Rinaldi told him he worked as a broker at Tradingbanks. com, based in London, and allegedly said if he opened an online trading account he could see returns of 5 percent a month.

The plaintiff deposited a small amount, followed by three deposits of 50, euros each. At this point, Massimo became suspicious. He refused to transfer the additional funds. He is suing for the NIS , he said he lost to the site as well as an additional NIS 20, in punitive damages. In his answer to the complaint, Mor, the owner of Pay Trade, said that he has nothing to do with Tradingbanks. He did acknowledge, however, that his company provided services to Lau Global Services Corp.

of Belize and Exo Capital Markets of the Marshall Islands, companies that owned two other sites, Mxtrade. com and Trade com respectively. According to a Paradise Papers leak, Lau Global Services Corp.

owns a Maltese company called Grizzly Limited that owned TradingBanks. com at the time of the alleged fraud, according to the fine print at the bottom of the Tradingbanks website. This suggests that the company was not merely an Israeli operation, but part of a global network of call centers. According to the Paradise Papers, the director of Grizzly Limited is an Israeli national named Shlomo Matan Shalom Avshalom, known as Shlomi Avshalom to his friends and acquaintances.

In and perhaps earlier, Avshalom supervised two call centers in the Philippines known as BSD Trading Service Corp. and GWU Marketing Corporation, according to a source who spoke to The Times of Israel on condition of anonymity. BSD Trading Service Corp made phone calls on behalf of Tradingbanks. com, the source said. The source told The Times of Israel that from at least , there were several Israeli-run binary options and forex call centers in the Philippines that brought young Israelis to the country specifically to work for them.

Among these Israelis were two year-old employees of GWU Marketing Corporations who lost their lives in when the car they were driving was hit by a truck. Mor, the Israel-based defendant in the case, said that neither he nor his company Pay Trade ever had any contact with the plaintiff. saying that Tradingbanks and related websites left Israel and moved their operations to Albania in late or early The report quotes the same employee saying that the online trading industry has done particularly well during the coronavirus pandemic.

The lawsuit is ongoing. On February 21, , the judge in the case, Ayala Gazit, ordered the plaintiff to deposit NIS 40, in collateral as a condition for the lawsuit to continue. She did this at the request of the defendant, in order to cover their legal costs should the case be dismissed. In August , three residents of Australia, aged 66, 70 and 80, sued 11 Israeli plaintiffs for alleged fraud in connection with the website Cryptotag. The defendants are Idan Gabay, Iris Gabay, Elad Raz and Yonit Raz, and the Israeli companies Miriam Finance, Netz View, Dror 1, Elegance Marketing, Gili Ben Mocha, Israel Miriam Holdings, and Shirion Procurement and Business Assistance.

According to the complaint, written by attorney Yoram Fay, Idan Gabay was the alleged mastermind of a fraud scheme that revolved around a website known as Cryptotag. According to the complaint, Cryptotag. financial operated from the 31st floor of an office tower located at Ariel Sharon 4 in Givatayim, a suburb of Tel Aviv. Idan Gabay, the complaint pointed out, has a criminal history, having served eight months in Israeli prison after being convicted of criminal extortion and threats of violence.

The complaint alleged that the Cryptotag website, ostensibly a cryptocurrency exchange, was a mere simulation and that investors never actually traded on any kind of real-world markets. In late and they lost what to them were huge sums of money. financial and never saw her money again.

According to the complaint, the defendants initially showered the plaintiffs with what appeared to be caring concern. They would congratulate them for their good choices and promise that their investments would yield glorious returns. In their answer to the complaint, Idan and Iris Gabay Elad and Yonit Raz have not yet filed an answer completely denied that they or their companies own Cryptotag.

In it, two companies owned by Gabay acknowledged that they did, in fact, operate Cryptotag. In an affidavit submitted with the complaint, Yaffe said that Cryptotag investors would transfer money to his bank account at HSBC in Hong Kong. Yaffe took a 2. in Bulgaria, which he said was controlled by Gabay. Fay claims that in fact Yaffe submitted the affidavit willingly because he wanted to recover funds from Gabay. According to court filings, Yaffe called Yoram Fay in September, a month after the affidavit was filed, and asked him to destroy his testimony.

In October , the Knesset passed a law banning the binary options industry, including companies operating from Israel that solicited investors abroad. Binary options operatives claimed that only part of the industry was fraudulent, and that it would be a pity to throw out the purportedly non-fraudulent baby with the dirty bathwater, but the Knesset rejected that characterization.

The law took effect in January An earlier draft of the law had also targeted unregulated forex and CFD companies operating from Israel, and would have required them to obtain a specific license to operate in any country where they have customers.

But after heavy lobbying from the online trading industry, the provision concerning forex and CFD companies was dropped. In May of last year, no fewer than 38 plaintiffs from around the world sued an Israeli call center and related individuals and entities for allegedly defrauding them, through binary options, forex, CFDs and other financial instruments.

The defendants argued that they had not broken any laws because they stopped selling binary options before January The plaintiffs claimed to have been defrauded through the websites PlusOption, Greenfields Capital, Brighter Trade, Bitxplace and GFC Investments. The alleged fraud occurred from through the beginning of

Search Search. Menu Sections. Premium subscribers enjoy unlimited access to all articles. But there's more: discover your full benefits now. D avid and Jonathan Cartu acted as shadow directors of the Irish company, Greymountain Management Ltd, Foley Street, Dublin, before it was wound up owing millions to investors worldwide, the court also heard. The court was told the liquidator of Greymountain was represented but was not participating in the case.

Mr Grainger, who denies the claims, appeared in person. The Cartu brothers, who are based in Israel, and Mr Coates were not represented and did not appear. However, in previous interactions all defendants denied they were involved in any scam. However, it is claimed, there were no legitimate trades carried out as the software system was rigged to ensure they lost their money. It is also claimed the defendants misrepresented the location, qualifications and identity of brokers and advisers with whom the investors interacted.

Greymountain was set up to enable payments to be made by credit card and it played a key role because it had contracts with credit card providers, he said. Enter email address This field is required Sign Up. Independentie News [1] Opinion [2] Business [3] Sport [4] Life [5] Style [7] Entertainment [8] Travel [9] Search Search.

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Categories CFTC Compliance OSC R4I Research Files, cartu brothers. According to a Paradise Papers leak, Lau Global Services Corp. Similarly, the Ontario Securities Commission cannot bring criminal charges, either -- only fines and prohibitions on future trading. In and perhaps earlier, Avshalom supervised two call centers in the Philippines known as BSD Trading Service Corp. and Marblestone Partners Ltd. In these cases, the brothers are represented by attorney Oren Chen. We would like to know more about the operators and request any relevant information.

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