On Wednesday, Spanish police arrested a key figure in fraudulent brokerage firm EverFX. Police have identified the person who was arrested as 'Pablo A' who is involved in a £2 billion scam.
According to the OCCRP, whose investigations in 2020 revealed the massive investment fraud network, “Pablo A” was arrested at El Prat Airport in Barcelona, Spain, after he completed a flight from Romania. A joint statement by the Guardia Civil and Mossos d'Esquadra police forces states that 'Pablo A' and his teams have communicated with victims 'through call centers located on the periphery of the European Union'.
About 17,000 people have been scammed in Spain alone. The Organized Crime and Corruption Reporting Organization also noted that EverFX was only one of approximately 470 investment “brands” associated with the same organized crime group, including ICC Groups and Companies, Intercertus Capital Limited, axiance, Aerarium Limited, flipuniquemarket.live, and hundreds of others licensed in Cyprus and the Islands. beyond the ocean.
There are some companies in the Arab Forex market that use the same license numbers as the companies involved in fraud, but while the story is developing, we will wait for some reliable information to appear before we warn about it.
According to a statement by the police forces and cited by the Organized Crime Reporting Organization, “the crime network earns about 50 million euros every three months from thousands of victims from all over the world” and of course that includes Arab countries.
Meanwhile, the arrest of the main character comes a month after the European authorities closed 15 call centers of the network in Albania, Georgia, Ukraine, Bulgaria and North Macedonia through a coordinated campaign. During the raid, which took place between November 8 and 9, police and prosecutors from Germany, Spain, Sweden, Ukraine and six other European countries arrested five suspects and seized thousands of euros in cash, among other things. The campaign was led by Eurojust, the European Union's judicial cooperation agency, which also funded the effort.
In May last year, the UK's Financial Conduct Authority banned Cyprus-based ICC Intercertus Capital Limited, the operator of EverFX, from offering CFD instruments in the country. FCA said at the time that EverFX was preparing several British traders in its offshore entities that were not authorized to provide services in the UK.
The FCA explained: “Many consumers were subsequently urged to transact with offshore members of the EverFX Group, which did not have authorization to provide regulated services in the UK meaning that consumers lacked the same level of protection.”
However, the ICC recently told Spanish newspaper El Pais that it is not aware of the investigation into EverFX. Meanwhile, EverFX has been active in sports sponsorship, sponsoring Spanish soccer giants, Sevilla FC, and even extending the deal.
And in 2019 financemagnates.com published an article for a paid interview with the CEO of the broker entitled “CEO of EverFX: We Have Expansion Plans in Dubai, Asia and More” announcing expansion to Dubai and the Middle East. While today, she published the news of the arrest of the most important members of the Everfx team involved in a fraud worth more than $ 2 billion.
The story is still unfolding and have reached out to different companies for more comments and we will update the article once we have more information.[rafflepress id=”1″]