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I am having an issue with a company
We will add a few more things here re ZP services Ltd, Malta.

First, it is clear that what they do for a business. And feel very proud of it, on a state level. State of Israel level, that is :). They may have to slightly amend this one, though... not a very good point now days.

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Second, their domain is registered via Dutch De Unie, an European company with all the rules applicable, in 2014. And then transferred to Israeli restricted user: https://domainbigdata.com/zp-services.com. This is no good. Now the original domain creator is at least linked to bad name in the industry. At least. Something to think about in terms of stricter regulation and customer KYC for domain operators.

Third, while Malta incorporated:
1635950994453.png

they do not hold a license from the financial regulator MFSA:
1635951142773.png
Playing on the same trick as in other non-EU countries should not be allowed in the EU zone. A call center/BPO providing services for nonregulated brand on EU soil should be at least looked into. for a start. We know for a fact that Financika scam places calls to EU citizens (e.g. in Spain), cold calls and non-GDPR complaint calls. ZP Services boosts its service to Financika scam publicly. This is reason enough for a regulatory visit and a warning notice.

Last but not least: take a look into this job post for Retention agent:

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Per Maltese law, high bonuses is NOT PERMITTED. A maximum of up to 15% of gross annual basic salary is what is allowed, followed by tax. Therefore, bonuses are once a year, relatively small compared to established Israeli bonus schemes for good Retention performers (e.g. 3,4,5% from net deposits PER MONTH). No retention agent or any sales person in general would opt for getting additional incentive once a year, especially in the business where average workforce turnaround is measured in months (e.g.3-6 months, then quit or get fired). It is therefore reasonable to assume that ZP Services handles 'bonuses' in some different way, making it ILLEGAL as they operate under strict Malta regulatory regime. We assume payments are done outside Malta or via crypto wallets. Something that should be checked properly by relevant authorities.
 
Moving on with exploring Malta business environment...
As FinTelegram posted more on the subject, there are some info that lead this thread into more serious findings. Let us share here what we found out.

Per FinTelegram, now the environment looks like this:

1636547199711.png


ZP Holdings 'holds' ZP Services (www.zp-services.com) and then there is this GCC& Services Ltd, Malta. This is correct, they state it on their FB page normally:

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It's a classis boiler room set up, constantly hiring and firing people, scam brands we already have via ZP Services website, quite openly and transparently. No doubt about it. GCC7 Services Limited is Malta incorporated as a call center outsourcing company https://www.gcc7-services.com/ , administered by Marwan Ibrahim, Maltese citizen and owned 100% by Paragon Realty Ltd (BVI company owned by Israeli citizen Israel Perel, according to FinTelegram) as can be seen on both Malta business registry and ICIJ Offshore Leaks.​
1636548836811.png

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However, there seems to be more in the complex companies structure.
 
The entire structure around it, thanks to ICIJ Offshore Leaks, looks like this:

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While Paragon is ZP's sole shareholder from it's end, GA Direct Management ltd holds many stakes in other companies. However, the director and legal/judicial representative of Paragon (so the administrator and work-handler) is TRIGLAV Management Limited, from Malta. Now this name kind of rings a bell, although its pretty vague for now...
Triglav Management Ltd is Malta corporate, with the same people that were involved in other entities incorporations (it's their business, company formation, corp. services etc)

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If we neglect the defunct one and focus on Triglav Management and Triglav Holding, we can see that they were formed almost at the same time (within 3 days, in 2010).

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So it is clear that Keith Masa and David Gonzi are holding the structure on someone behalf. Someone that decided to use the word/name Triglav in its structure. Perhaps a corporate structure, where the group is identifiable by its original name? From this point now, we enter into speculations and possibilities. We display them here because the odds we are right are actually pretty good.

Meet the Balkan-Adriatic regional insurance and investment group leader, originally from Slovenia, called:
1636555760263.png
https://www.triglav.eu/en

 
And again we have Mr Keith Massa of KayEm Consulting Limited Malta (online gaming, finance, company formation, tax etc etc)(LinkedIn) this time in Triglav Holding Ltd:​

1636555986915.png


Note that Triglav Holding is actually the name of one of many companies from the Triglav Group, per their own websites and public data. And it just so happens that both the Slovenian Triglav Holding Int DD and Maltese Triglav Holding LTD were formed in 2010. (https://www.triglav-int.si/en)

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That's pretty strange coincidence, agreed? What are the odds? Plus, the Slovenian holding company with zero employees is active and involved in international business outside regional primary business (e.g. insurance) per their own words. The director, key people etc are the same as on the Group level, one name in particular drew our attention: Mr. David Benedek

Here is something interesting, apart from corporate news on that Group:
www.trigal.com, https://www.trigal.com/our-team/

1636556803694.png


So it is assumed he worked at UBS NY Branch till 2003 and in Slovenian NLB Bank at least btw 2003-2014.
NLB Bank is not a good name in banking world and is linked to many scandals.

NLB Bank scandal in Slovenia, involving heavy money laundering:
(allegedly used accounts at NLB to transfer funds on behalf of the Export Development Bank of Iran, which has provided financial services to companies connected with Iran's nuclear and ballistic missile programs, according to the European Union; between 40 and 50 transactions reportedly took place daily, from NLB to more than 30,000 accounts around the world; )
https://www.euractiv.com/section/gl...ked-by-iran-related-money-laundering-scandal/
(Slovenia’s state prosecutor has opened a preliminary investigation into claims that the country’s biggest state-owned bank, Nova Ljubljanska Banka (NLB), may have laundered nearly €1bn from Iran between 2008 and 2010, breaking an international embargo and failing to enforce rules on the financing of terrorism.)
NLB confirmed that some of its international transactions had been reviewed internally and by the central bank in 2010 and no sanctions were imposed.
“Both reviews resulted in a number of findings that served as the basis for major changes in how the area of prevention of money laundering and terrorism financing was organized and equipped,” the bank said in a written reply, adding that “the responsible persons from that period are no longer employed at NLB”.
Iranian connection
The scandal centers around Iranian and British citizen Iraj Farrokhzadeh, who opened accounts at the bank in December 2008 for the company Farrokh Ltd., after authorities in Switzerland shut down his accounts at UBS.



This may have nothing to do with both Mr Benedek (main person of all Group subsidiaries) and Triglav Group and we do not claim it does at all, however the similarities and coincidences are too much to be disregarded. We would only ask a question why on Earth would a giant business group be tied to scam setup. We hope it's a coincidence and if so, they should act due to obvious reputation risk. The answer lies with company formation officer, Mr Keith Massa, where the true identity of beneficial owner(s) is lodged. However, all straw men should be aware that no matter what they did or did not do - they are responsible to some extent, to those who were damaged by this vast cybercrime scheme. Adding protective layers and multiple intermediaries does not mean relief of guilt and legal consequences.​
 
Moving on with exploring Malta business environment...
As FinTelegram posted more on the subject, there are some info that lead this thread into more serious findings. Let us share here what we found out.

Per FinTelegram, now the environment looks like this:

View attachment 70653

ZP Holdings 'holds' ZP Services (www.zp-services.com) and then there is this GCC& Services Ltd, Malta. This is correct, they state it on their FB page normally:

View attachment 70654
View attachment 70656
View attachment 70655
It's a classis boiler room set up, constantly hiring and firing people, scam brands we already have via ZP Services website, quite openly and transparently. No doubt about it. GCC7 Services Limited is Malta incorporated as a call center outsourcing company https://www.gcc7-services.com/ , administered by Marwan Ibrahim, Maltese citizen and owned 100% by Paragon Realty Ltd (BVI company owned by Israeli citizen Israel Perel, according to FinTelegram) as can be seen on both Malta business registry and ICIJ Offshore Leaks.​
View attachment 70658
View attachment 70657


However, there seems to be more in the complex companies structure.

It seems that indeed Paragon Realty Ltd in BVI is behind the Malta boiler rooms ZP Services and GCC7 Services. Another source told us that the wife of Liran Ben-Ari used to be the director of PZ Services Ltd, another boiler room operator.

Read this interesting long-form report on FXGM and other scams also covering ZP Services: https://www.warning-trading.com/fxgm-antiguos-empleados-revelan-la-estafa-desde-su-interior/
 

Attachments

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The FXGM side of the Maltese 'business' - more boiler rooms in CZECH REPUBLIC and BULGARIA

It looks like more and more brands are added daily. In early 2021, the French Nicolas Gaiardo contributed to this scam network: https://www.warning-trading.com/fxgm-antiguos-empleados-revelan-la-estafa-desde-su-interior/ Quite interesting read, that explains why actually CySEC regulated FXGM has regulatory issues over all of its registered websites (ongoing checks, no client onboarding etc)​

CySEC extends suspension of CIF Depaho Ltd license https://financefeeds.com/cysec-extends-suspension-depaho-license-november-19/ for its reported brands:
www.depaho.com;
www.fxgm.com;
www.gtcm.com;
www.tradeapp.com

'The Depaho license was initially suspended on July 9, then the suspension was extended two times, most recently in the beginning of September. The action was taken as the CySEC suspected the broker of non-compliance with the authorization requirements and gave FXGM parent one month to make adequate arrangements to comply. Apparently, it still hasn’t done so. CySEC now extends the punitive measures as the firm was still accused of acting contrary to investors’ interests, and more broadly the regular operation of capital markets. Depaho has until the end of November 19 to comply with the CySEC provisions and apply to reactivate their license once more. In the meantime, Depaho cannot conduct business operations, take new clients, accept trading orders, provide other types of investment services, or advertise itself as a CySEC-regulated broker.'

As lame as CySEC action seems (and it really does!), especially after reading the Warning-Trading article, it's better then no action. Not even CySEC can afford to ignore these scammers now days, as opposite to previous years. Obviously, things change slowly.

However, the greatest benefit for this thread is that some new brands are added to this scam group. Regulated brands, but handled in a highly irregular manner (read customer reviews and see for your selves).

Depaho Ltd CIF structure looks like this (the important ones marked, Adia Rizk being no. 1):

1636660350884.png

However it used to look like this (the ones no longer in structure are marked:

1636660837013.png


While Eric Uzie Ovits is a Tel Aviv lawyer and associate for US investment companies at the time of his appointment in FXGM network (in what capacity?), Zachi Rosenbaum was displaced into another venture, for a good reason. The CySEC informatin on Depaho Ltd states auxiliary locations, here they are:

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While the so-called 'Branch' in Spain has no value of any sort until license is obtained with Spanish CNMV (its just a rent space at Malaga TechPark https://www.pta.es/en/, not even under CY company name), the Bulgarian 'tied agent' reveals FXGM Bulgarian boiler room in fact. Here again we face same issue as with many others - the reported VICES LTD cannot be found in Bulgarian registrar of companies. We do have a website address though, via Google search:

1636661978645.png


The website is still not working (?) but this Rumena Doncheva registered 2 websites and her email says CMSG Ltd:​
Domain NameCreation DateRegistrar
vicesta.com2017-04-25publicdomainregistry.com
cmsgnet.com2005-05-18netearthone.com

So there it is - the Bulgarian Tied agent of FXGM, a call center/boiler room - CMSG LTD, claiming they started in 2003 or 2007 (both stated), however BG registrar says 2010, could it be it was moved perhaps from Romania to Bulgaria? In any way, its a rent-a-boiler room service, who pays gets the service. In FXGM case, it is a part of the company structure, the official one, meaning it's not independent of FXGM owner(s). CEO since inception is Romanian Ms Christine Nicorici (https://www.linkedin.com/in/callcentercmsg/)


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Bulgarian registrar: link - actual company name is KMSG. Why is it all made difficult to allocate?

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The people in the company structure also hold some Gibraltar entities. Lastly, there is (was, no more exist) a Belize IBC called DEPAHO, we are not aware of the connection but the name is indicative-opened in 2019 and closed in 2020:

1636664276551.png


And another Depaho possibility, in Hong Kong this time, as Depaho Limited in 2014 and changed name to Visatrader Limited:
https://opencorporates.com/companies/hk/2024886 We have no info on this, just the name which is sort of specific.

 
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To conclude for Bulgaria:

1636664598956.png


Czech boiler room is allocated thanks to the earlier mentioned Israeli-Cypriot Zachi Rosenbaum - WACC Services s.r.o. It was formed much after Bulgarian one (in 2016). Still, it managed to participate nicely in the outstanding FXGM client rip off and contribute well. Both boiler rooms posted profits measurable in millions euros, pls check their financial statements to see. So we rightfully assume the Maltese one (ZP Services) did the best and below radar with all scam tricks available and used.​

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This is the entire list of designated agents of Cypriot Depaho Ltd:

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The Finnish FHE Oy is/was probably an intermediary involved in payments part of the scam network:

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We here go back to Malta boiler room, as apparently quite a few work over there (in fact it's at least 400-500 people in all 3 boiler rooms identified-for sure many millions were 'lost in trading' years back).

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French, Italian, Swedish speaking agents ... and no mention of FXGM on ZP Services website. Why? Perhaps because of the Italian and French police, for a start... and Maltese police eventually. You see, per valuable Nicolas Gaiardo article, the ties of the Maltese companies were directly to the Italian mafia and betting company UniqBet, that ended up in arrests, scandals etc (read the story pls). ZP Services hidden office for staff who called and scammed was in the very same building where the betting, money laundering and possibly more crime operations were done. And all is tied to the Calabrian mafia, the infamous and terrible N'Drangheta


Real office address: 120 Triq Ix - Xatt; 2015-2016 pictures:

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In addition to celebrating good sales (stealing) results and info on wild parties in Tel Aviv for top performers in Malta (read the article), the Bulgarian team also celebrated nicely, see for your selves (2015 Planeta Payner Club Sofia Christmas party video):




Nice to see where the money went...
 
Adding one more company to the Malta business arm:

PZ Services Ltd (2017-2020)

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Remember Guy Sela, from Finland-based FHE Oy? It seems there is more to him then a payment intermediary. In fact, FHE Oy is a call center company:


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Guy Sela: https://fi.linkedin.com/in/guy-sela-28aa6234

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And here we can see that Israeli-born Mr Sela obtained Polish passport, done business in different countries and is connected toCzech-Israeli-Cypriot forex venture called HighSky Brokers Ltd, at the same time while engaged with Maltese ZP Services and PZ Services. We are rightfully going to assume that www.highsky.com and www.highsky.cz were part of the entire scheme, therefore we add another fraudulent trading website here.

HighSky Brokers, a. s., Prague 1, Vodickova 710/31, ID: 24710164, VAT ID: CZ24710164, listed in the Commercial Registry of the Municipal Court in Prague, section B, entry 16338, was not a good name in the business:


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It seems that AX Group Solutions boiler room does not allow public posts on its activities and work hard to gain public image of successful marketing company via social media. Off course, tis is a mere smokescreen. It is a boiler room comprised of agents who lie and cheat people worldwide over their money on a daily basis, one of many such places that belong to this cybercrime organization. See for your selves - earlier this month, our post link displayed this:

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and now days it looks like this:

1638349133959.png

Hiding something perhaps? Agreed, it's most unpleasant testimony, isn't it? Company's legal representative being one Ms Jana Polak, a Ukrainian-born, a lawyer with her in Belgrade (www.polaklawoffice.rs).
What are the chances the law office does not know details about client's actual business? Next to zero. Even if so, after taking actions to remove the above post on the website www.joberty.rs, she can be held accountable as she is reasonably considered to know the true nature of the business she legally caters. From this point on, any legal fees she accepts from her client may be considered to come from an alleged and potential criminal activity. Lawyers generally know these things, but rarely care, money is money and nothing else matters.

Also, a new straw man/monkey was quickly registered, to hide previously exposed Mexican and Romanian owners. Fat chance guys and too late.​

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The new nominee 'owner' Luka Brankovic also holds some small business with Exxo in its name - like the first name of the boiler room company, Exxoglobe (Lunar Exxo, lunarexxo@gmail.com, IT consultancy as of 2019).
His snapshot:
1638350756425.png


It seems that some law enforcement inquiries were started locally in the past weeks time, weather initiated from abroad or within the country ( which is pretty hard to believe it's almost certainly NOT a local effort). Several boiler rooms are part of these actions, but no more details are available at this time. We are yet to see what happens.​
 
In addition to celebrating good sales (stealing) results and info on wild parties in Tel Aviv for top performers in Malta (read the article), the Bulgarian team also celebrated nicely, see for your selves (2015 Planeta Payner Club Sofia Christmas party video):

Trace deleting attempt...
1638807805347.png


In vain.
 
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