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Geneva: Swiss-based Athena Intelligence has uncovered a sprawling forex fraud network which reveals links to Qiwi Enterprise Solutions, an Israeli company allegedly involved in orchestrating a series of deceitful trading platforms. Athena has today released a public report on its findings to warn consumers.
The investigation exposes Equiity, a forex trading platform launched in 2023 that swiftly amassed a trail of complaints and accusations of fraud. Despite a Zurich Police warning, many so-called “expert” websites continued to promote Equiity, obscuring the risks for potential investors.
Equiity: A Forex Scam in Plain Sight
Equiity lured investors with promises of high returns, but users reported losing their investments, often without any chance to withdraw earnings. Once users registered, they claim to have faced ongoing pressure to deposit more funds, a typical tactic used by fraudulent trading platforms. Some investors lost only a few dollars, while others suffered substantial financial losses, allowing the suspected scammers to pocket considerable profits.
An International Web of Deception
Athena Intelligence’s investigation has revealed connections between Equiity and other purported fraudulent platforms, all allegedly run by Qiwi Enterprise Solutions. Utilizing a shared infrastructure, Qiwi reportedly rebrands its platforms once exposed, launching new scams who latest one is Smart STP.
Jonas Rey, CEO of Athena Intelligence, warns: “This reputed scam network operates on a global scale, allegedly deceiving countless individuals. We’re committed to shedding light on these suspected deceptive practices and urging authorities to take swift action.”
Links to a Broader Scam Network
The investigation suggests that Qiwi’s influence extends across numerous fraudulent platforms, exploiting various financial markets, including binary options, forex, and crypto trading. Evidence points to connections with former associates of convicted fraudster Ido Fishman, who ran similar scams in the binary options and forex trading industry. Athena Intelligence’s research indicates that Qiwi’s leadership, which shares a history with past fraud cases, may be orchestrating this entire scheme.
Athena Intelligence advises extreme caution when dealing with unregulated trading platforms and reminds investors to verify the credibility of any online trading site. Those affected by scams like Equiity should report their experiences to authorities and seek legal recourse.
About Athena Intelligence
Athena Intelligence is a Switzerland-based corporate intelligence and investigation firm dedicated to exposing financial fraud and protecting investors worldwide.
https://www.athenaintelligence.ch/_files/ugd/ce606e_5657e844fade4a5ba112bf7326aa230f.pdf?index=true
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