Originally Syndicated on May 10, 2024 @ 3:28 am
On June 8, 2020, German regulator BaFin issued a Cease and Desist Order against Estonian Yield Enterprise Currency Software OÜ, demanding that the company stop running the broker scam ProuFX (www.proufx.com). Up until a few months ago, this scam was known as UProFX. A small change in lettering makes it quite simple to launch a fresh hoax, isn’t it?
BaFin issued a warning against this organisation, which at the time ran the broker scam Libra Markets (www.libramarkets.com), as early as December 2019. For more than a year, FinTelegram has been covering the frauds of this Estonian business and its director, Petar Borislavov Zlatkov, who is from Bulgaria (see this FinTelegram investigation).
The Link Between KayaFX and
The director of Estonian GammaTech Services OÜ, which has run the massive KayaFX binary options fraud among others, is none other than Petar Borislavov Zlatkov. The Israeli Avi Itzkovich, also known as Avi Itzkovic or Avi Itzkovitz, is a verified beneficial owner of KayaFX. Through Mercure Group EOOD (previously RAX Media EOOD), he has attacked small EU investors and run illicit boiler rooms in Bulgaria.
This network of scammers has been active for years with various companies, brands and boiler rooms. The beneficial owners behind them are probably Israelis. ProuFX is only ONE of the last scam brands they use to defraud small investors.
