Exposing LionsFX (www.lionsfx.com, now defunct)

Scam Reporters

Master Sergeant
Messages
438
During the 2017-2018 period, many different scam brokers emerged with respective boiler rooms spread across Eastern Europe, Middle East and other places worldwide. Not much has changed until this day. Some were out of business, some ran away or got caught (very rare). However, 'industry' staff members remained on their 'markets', shifting from one boiler room to another, 'seeking opportunities'. The on we will expose today was headquartered, again, in Belgrade, Serbia (surprise, surprise). Actually, 2 local boiler rooms, both handling the same brand, which is not so often seen. Both companies competed and were openly very unfriendly to each other (the operators). Seems the standard Israeli managers-Serbian staff setup was broken on this one and the 2nd boiler room operators were strictly locals with open animosity towards the 1st boiler room Israeli operators.

One of many fraudulent Binary Options and fake Forex-contracts for difference (CFD) frauds was LionsFX (now defunct website www.lionsfx.com), throughout late 2017 to around end 2018 or early 2019. An average small 1 year scam, that we will expose on FPA for the purpose of leaving permanent track of the scam, it's operators, connections outside boiler room(s) and, last but not least, the staff. This particular scam was sort of an incubator for future trained Conversion Agents, staff always welcomed in any scam boiler room. This is where employees made their 'names' and references for next scams. After the local company was shut down, they got new jobs pretty easily. As for the company closure, it is said that it was a result of a police raid to the premises, again done quietly and with the sole intention to close them, not to investigate actual fraud. The word is - it was organized by local .competition'. Whatever really happened, closed both boiler rooms operating the same scam LionsFX, which is great. The less 'great' part is the one where no liability of what so ever was imposed to anyone involved, no restitution payments to defrauded victims of a scam were ever made and for sure never will. From this time distance, it is safe to conclude that everyone got away clean, with client money.

We cannot undo the wrong or bring justice to anyone. It's not up to us. Those who should, do not do their job. At least we can permanently record the events on FPA and at least some of the LionsFX victims may learn one day who defrauded them, their real names, pictures and other details.

LionsFX scam used x-Station powered by XTB Ltd (UK, other EU, offshore, Cysec reg). Probably some sort of white label as both LionsFX co-founder and platform operator have Polish presence
However, it was definitely an unlicensed FX broker operated by SVG offshore company, with no financial license just SVG foreign legal entity registered, called Alpinex Capital LTD, reg.no 24151 IBC 2017 (claimed, however cannot be checked via https://svgfsa.com/):
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The scam even got its name properly registered in Europe, by one Mr Michal Wojciechowski, a Polish national, commuting between Eastern Europe and UK.
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Mr Wojciechowski has an interesting experience (note: this is at least the 3rd time we came across former Markets.com employee or partner, involved in some scam - no claims here, just stating the statistics)

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His current LinkedIn profile:


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His LinkedIn profile in the past, mentioning some WealthPal, now held by Hindi owners (strange):

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Respective UK company formed diligently in mid 2017 and closed late 2018: https://find-and-update.company-information.service.gov.uk/company/10733706/officers

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Local boiler room opened for this scam was: BAUMAN CAPITAL DOO Belgrade, Serbia, comprised solely of local staff and operators. Company details: and company foundation act revealing Alpinex Capital Ltd SVG as owner:

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More supporting evidence:

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Without any doubt, this man was involved and is liable to damaged investors - victims. They just don't know it.


To be continued.
 
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Scam Reporters

Master Sergeant
Messages
438
Another boiler room existed as we mentioned, this time involving Israeli operators behind (probably 'investors' who bought the right to exploit the brand). These guys managed to burn the brand completely. It ended up with police raid, one of many that were never publicly spoken of and are not known of, as their purpose was just to close them (probably bribed to drive off the 'competition' out of town).

This second boiler room was called RED LION MARKETING DOO (inventive, right?). Company details: https://search.bisnode.rs/rs/1109829/red-lion-marketing-d-o-o-u-likvidaciji/?l=en-US

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Ms TETIANA YAREMENKO, the registered owner, Ukrainian passport FG660331 (possibly fake passport- yes, we took the time and checked, at least Київ is walk in the park for us ;)). Possibly some matches via google search (here or here) but no actual info, so we won't bother...

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This company is now being liquidated and is bankrupt. Note the address states below, it's the most frequently used address for boiler rooms. An example would be Parogan DOO, on the same address (go through our past threads to see):

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Representative of the company (recently quit her position of bankruptcy manager, leaving the owner Ms Yaremenko, to be in charge, however not likely as she is/was only a nominee holder):

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More from LinkedIn:
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Here is a funny pic from 1st boiler room Bauman Capital - agent who went to even worst scam after LionsFX to scams operated by Gal Barak (OptionStars Global, XtraderFX, etc...) in boiler room called My Markets doo - LionsFx was scam incubator, as stated already:

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Even the local advertising agency Grandmarketing.rs was handling the LionsFX brand:

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Off course, they are nowhere to be found now under Reference section:


We wonder why... :p

Last, even the domain was locally registered:


The IP address has a bad rating (malware): https://ip-46.com/94.130.143.245


This concludes LionsFX scam story. On to the next one...
 

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