Javier Keeth
FigFx Representative
- Messages
- 160
Hello Readers, Hello FPA,
Introduction:
FIGfx, has started an independent investigation around three Iranian clients, who seemed to be doing something illegal over on our platform. After finishing the investigations and collecting the information needed, we decided to share this information to give other brokers a hint, on checking their systems for possible links to this issue.
THIS IS AN E-CRIME INVESTIGATION REPORT:
This report is posted to the public here, giving people and other broker representatives a lead on how to detecting such violations. This investigation might contain technical information that only specialists might value, but still take a look to know how to protect yourself against such activities.
Involved Violations:
- Collective Investment Scheme (aka, HYIP)
- Identity Theft
- Document Forgery
- Money Laundering
Please notice that this in no way reflects any intention/involvement by the brokers themselves, the brokers listed above where used as a vehicle to perform the illegal actions.
Major Suspects:
- ************* *************, *********** (Removed due to revealed updates)
- Hamed Arayesh, Tier-1 Affiliate Node
- Ali/Mohammad Ghasemi Beirami, Trader
Used Business Names:
- AlmaHostCo, Iranian Hosting Company, owned by Arayesh
- FXCompany Iran, IB for many brokers owned by Beirami
Step #1: Collecting Funds:
Arayesh, is/was responsible for HYIP websites all over the internet such as Argusfund.biz, vegamex.biz, argustrust.com, lariox.com, and many others.
The websites were put online to collect funds (mainly LR, and WMZ) from people in Nigeria, Indonesia and other countires. The HYIP websites simply disappeared as usually happens with such websites.
Money was collected by accounts U*90**28 and U30*42** on libertyreserve, U*854*07 on Perfect Money, and three more accounts on StrictPay that were registered illegally using forged documents of:
a) Stephen C. Vogt
b) Bart McDade
Step #1 Comments
We have full prooves, emails, logins, transactions, screenshots, etc.. of everything related to our above accusation. Authorities willing to go further with this investigation are welcome to contact us directly, or through the FPA official representatives.
Step #2: Laundering The Money into Iran:
The scheme used was actually simple, and consisted of two main steps:
a) Trading on Many forex brokers:
The suspects opened several forex trading accounts on many broker platforms such as those mentioned above, they hedged their positions among platforms so that one always loses, while the opposite always win. This way, they could at least provide legal statements of their source of money as profit from forex.
b) Manipulating FX Affiliate Programs
All opened trading accounts were opened under an affiliate account, which was earning commissions (rebates) for the introduced clients. This way, they can maximize the return of the invested money on both losing, and winning accounts mentioned above.
Step #2 Comments
We have all names, numbers, logins, etc.. of all accounts opened on most of the brokers we mentioned above in relation to our above accusation. Authorities/Official broker representatives willing to go further with this investigation are welcome to contact us directly, or through the FPA official representatives.
--------------------------------
Step #2 above, was not as easy as you might have understood.
To make big commissions, and to hide what actually is going on, they needed many accounts and many different names to use in their trading. And this is where their IB manager, gets in the deal.
The suspects above, introduced themselves as introducing brokers to many brokers including ourselves, and promised up-to 0.8--0.9 pip back of each pip they earn.. On average, this is double what you usually get in the field.
People of course, got interested, and started opening accounts. Guess what happens next?
- Comes XXX YYY, and asks them to open an account for $100 or whatever at FIG for example..
- They ask for the documents to verify the account
The documents then are used to open several accoutns, on many other brokers without the real owner's approving or even knowing that he owns an account at other brokers. They pour their dirty money into those accounts and start moving their vehicle.
--------------------------------
Conclusion of FIGfx:
FIGfx, unfortunately, had to suspend over 90 accounts from Iran, until further investigation is completed. We understand, that some innocent traders might be affected, please be assured that your account will be replenished and ethically compensated if it appears that your account is in noway related to this issue.
Conclusion to Traders:
Please be sure of your IB's identity before sending your documents. Please be aware that with those 2 simple documents, anyone can register an offshore company (not just a forex account) and be transporting whatever without you even knowing about it. If it is a MUST to submit documents, send them directly to your broker. There is no logical need of you sending your document to any third parties.
Attention FPA:
We tried to give you a hint by email about what's going on but you maybe were a little busy. We have posted this investigation here anyways as we strongly believe fellow traders as well as brokers will benefit from knowing this information.
Attention Brokers:
We have information about the accounts opened on your platform, including names, emails, account numbers and some more information (in some cases). Please contact us directly or through the FPA if you are interested to get rid if the accounts on your platform also.
Conclusion to Cheaters:
Get a life!
To run a forex brokerage firm, means going through million such cases daily. Whenever you think you're the smartest one around, press ctrl-z.... think again.
Try poker instead. Forex needs a working brain!
--------------------------------
Legal Disclaimer:
FIGfx, Me personally, FPA, Mentioned Company Names; do not consider any of the mentioned persons, companies guilty of any rendered facts, unless a verdict is issued by a court of law. The above scenario was constructed upon a 45-days investigation, and only assumes, that facts were connected the way they were described.
Best wishes, Javier
Introduction:
FIGfx, has started an independent investigation around three Iranian clients, who seemed to be doing something illegal over on our platform. After finishing the investigations and collecting the information needed, we decided to share this information to give other brokers a hint, on checking their systems for possible links to this issue.
THIS IS AN E-CRIME INVESTIGATION REPORT:
This report is posted to the public here, giving people and other broker representatives a lead on how to detecting such violations. This investigation might contain technical information that only specialists might value, but still take a look to know how to protect yourself against such activities.
Involved Violations:
- Collective Investment Scheme (aka, HYIP)
- Identity Theft
- Document Forgery
- Money Laundering
Please notice that this in no way reflects any intention/involvement by the brokers themselves, the brokers listed above where used as a vehicle to perform the illegal actions.
Major Suspects:
- ************* *************, *********** (Removed due to revealed updates)
- Hamed Arayesh, Tier-1 Affiliate Node
- Ali/Mohammad Ghasemi Beirami, Trader
Used Business Names:
- AlmaHostCo, Iranian Hosting Company, owned by Arayesh
- FXCompany Iran, IB for many brokers owned by Beirami
Step #1: Collecting Funds:
Arayesh, is/was responsible for HYIP websites all over the internet such as Argusfund.biz, vegamex.biz, argustrust.com, lariox.com, and many others.
The websites were put online to collect funds (mainly LR, and WMZ) from people in Nigeria, Indonesia and other countires. The HYIP websites simply disappeared as usually happens with such websites.
Money was collected by accounts U*90**28 and U30*42** on libertyreserve, U*854*07 on Perfect Money, and three more accounts on StrictPay that were registered illegally using forged documents of:
a) Stephen C. Vogt
b) Bart McDade
Step #1 Comments
We have full prooves, emails, logins, transactions, screenshots, etc.. of everything related to our above accusation. Authorities willing to go further with this investigation are welcome to contact us directly, or through the FPA official representatives.
Step #2: Laundering The Money into Iran:
The scheme used was actually simple, and consisted of two main steps:
a) Trading on Many forex brokers:
The suspects opened several forex trading accounts on many broker platforms such as those mentioned above, they hedged their positions among platforms so that one always loses, while the opposite always win. This way, they could at least provide legal statements of their source of money as profit from forex.
b) Manipulating FX Affiliate Programs
All opened trading accounts were opened under an affiliate account, which was earning commissions (rebates) for the introduced clients. This way, they can maximize the return of the invested money on both losing, and winning accounts mentioned above.
Step #2 Comments
We have all names, numbers, logins, etc.. of all accounts opened on most of the brokers we mentioned above in relation to our above accusation. Authorities/Official broker representatives willing to go further with this investigation are welcome to contact us directly, or through the FPA official representatives.
--------------------------------
Step #2 above, was not as easy as you might have understood.
To make big commissions, and to hide what actually is going on, they needed many accounts and many different names to use in their trading. And this is where their IB manager, gets in the deal.
The suspects above, introduced themselves as introducing brokers to many brokers including ourselves, and promised up-to 0.8--0.9 pip back of each pip they earn.. On average, this is double what you usually get in the field.
People of course, got interested, and started opening accounts. Guess what happens next?
- Comes XXX YYY, and asks them to open an account for $100 or whatever at FIG for example..
- They ask for the documents to verify the account
The documents then are used to open several accoutns, on many other brokers without the real owner's approving or even knowing that he owns an account at other brokers. They pour their dirty money into those accounts and start moving their vehicle.
--------------------------------
Conclusion of FIGfx:
FIGfx, unfortunately, had to suspend over 90 accounts from Iran, until further investigation is completed. We understand, that some innocent traders might be affected, please be assured that your account will be replenished and ethically compensated if it appears that your account is in noway related to this issue.
Conclusion to Traders:
Please be sure of your IB's identity before sending your documents. Please be aware that with those 2 simple documents, anyone can register an offshore company (not just a forex account) and be transporting whatever without you even knowing about it. If it is a MUST to submit documents, send them directly to your broker. There is no logical need of you sending your document to any third parties.
Attention FPA:
We tried to give you a hint by email about what's going on but you maybe were a little busy. We have posted this investigation here anyways as we strongly believe fellow traders as well as brokers will benefit from knowing this information.
Attention Brokers:
We have information about the accounts opened on your platform, including names, emails, account numbers and some more information (in some cases). Please contact us directly or through the FPA if you are interested to get rid if the accounts on your platform also.
Conclusion to Cheaters:
Get a life!
To run a forex brokerage firm, means going through million such cases daily. Whenever you think you're the smartest one around, press ctrl-z.... think again.
Try poker instead. Forex needs a working brain!
--------------------------------
Legal Disclaimer:
FIGfx, Me personally, FPA, Mentioned Company Names; do not consider any of the mentioned persons, companies guilty of any rendered facts, unless a verdict is issued by a court of law. The above scenario was constructed upon a 45-days investigation, and only assumes, that facts were connected the way they were described.
Best wishes, Javier
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