The appeal of the defrauded TeleTrade customers to CySEC regulator

TeleTrade has been defrauding its customers around the world for over 25 years now. In Europe, the frauds used the company Profit Point to engage the customers. Once the critical mass of the fooled customers was reached, this company was closed down. To prey upon Europeans, the cons opened two TeleTrades. One is TeleTrade-DJ International Consulting Ltd, licensed by CySEC in Cyprus, and the other one is Teletrade D.J. Ltd, registered in the non-regulated tax-haven of Saint Vincent and the Grenadines. Both Tele-Trade in the tax-haven and TeleTrade Cyprus share the same platform, same CRM system, and same technical support.

The new legislation on Forex, adopted in Europe, made it impossible for the frauds to keep working through Teletrade D.J. Ltd (located in the offshore Saint Vincent). So, they started to cheat the customers in the branch offices of TeleTrade-Cyprus in Warsaw, Lisbon, Rome, Bucharest, and other EU capitals. Today, the swindlers' business is thriving and they succeed at cheating the Poles utilizing SyncTrading project, the Portuguese – through Copy Trading project, the Italians -using TeleTrade Invest, etc.

Essentially, these projects are as simple as that: the TeleTrade frauds open the accounts for the non-existent people and show non-existent virtual money there. On these accounts, they then install trading bots. For some time, a trading bot makes a profit. To this bot, hundreds of customers with their real money connect. At some point, a TeleTrade software specialist opens loss-making deals that involve the real money, and, along with the virtual money, drains off the customers' real money – they remain at TeleTrade and rest in the frauds' pockets. The personal cabinets of such trading robots with virtual money are registered in the offshore TeleTrade. However, as long as TeleTrade-Cyprus and TeleTrade-Saint-Vincent share one platform, these fake robots work in TeleTrade Cyprus projects, too: SyncTrading, Copy Trading, TeleTrade Invest, and others.

You can see how the customers’ accounts are blown in practice in the exclusive video, made by the former TeleTrade employee who rejected taking part in scheming.

The Scheme of the Plot

This video reveals how the frauds deal with the real traders who want to participate in SyncTrading, Copy Trading, TeleTrade Invest projects and can really earn money for their customers.

A real trader

The information for law-enforcement bodies

We would like the law-enforcement bodies to see this video of the frauds’ CRM system. It is a critical technical component of control and accounting the frauds’ money. It holds everything: the records on the cheated customers, incoming money, expenses for salaries and bribing officials, as well as the internal correspondence of the leadership and schemes of the frauds. This is the reason why TeleTrade swindlers protect their CRM system so carefully. During the law-enforcement body's audits, the manager or curator presses "the Analytics" button, and CRM switches to "the Analytics" mode. The law-enforcement officers then can see nothing but analytics there. This option of switching the CRM system to "the Analytics" mode is another TeleTrade’s big secret.

More information about the frauds:

The TeleTrade owner was wanted for the fraud and died, hiding from the prosecution.

For over a year know, TeleTrade is headed by Anna Chernobay, a widow of the late owner, who will soon outpoint her husband by the number of people she fooled. Today, Anna Chernobay is hiding in Europe with her father, Aleksander Block, who is also fraud and is under investigation in Kazakhstan:

The entire family of TeleTrade owners comprises frauds and thieves who are investigated by the police.

We are an initiative group of defrauded customers. In the nearest time, we are going to call a press-conference on Cyprus, Poland, Portugal, Italy, and Romania to expose TeleTrade’s fraudulent activities and draw the attention of the law-enforcement bodies and regulators. This will help people who invested their money in TeleTrade, get it back, and will help to terminate the frauds' activities in the European Union.

Press-conference of the TeleTrade’s defrauded customers and former employees of the Stock Market Technologies Center