In recent weeks the FinTelegram Research Team, supported by whistleblowers, has been investigating and reporting on the PumaTS Scam Broker Network. Shortly after the first report, the PumaTS website (www.pumats.com) went offline. Recently it has been available again and presents the “Future of Unique Technology. The close connection to CySEC-regulated Leverate Financial Services and its products is still there. Our Request 4 Information to Leverate on the nature of the partnership has remained unanswered so far but nevertheless we have done the profiling of the first scams.
Profiling the scams
In the course of our investigation and as a result of our Request 4 Information we were supplied with valuable information by whistleblowers who are obviously insiders of the PumaTS scheme. Thus we have obtained the documentation showing the beneficial owners behind some of the scams from the PumaTS, contracts, and the structure of web services behind the scams.
Thus, we are able to establish profiles for PumaTS scams including ownership, IDs, business relationships, contracts, and web services infrastructure:
- TopTraderPro which
- is operated by Ideas in Motion Ltd, Marshall Islands, as just one of their scams;
- received a cease and desist order from the German BaFin in April 2020;
- signed a Services Agreement with PumaTS entity Marketing and Consulting Ltd, a fake company allegedly registered in Bulgaria, in December 2019 (download service agreement here);
- is connected with the Bulgarian Fidanka Nedkova as the scams beneficial owner and director;
- and is connected to the activ8trader.com in the Leverate infrastructure;
We’ve already established these comprehensive profiles for a dozen other PumaTS scams and started to get in contact with the scammers.
Connecting the dots
We can prove on the basis of the documentation that many of the scams operated by PumaTS are part of the trading infrastructure of the regulated Leverate Financial Services Ltd. The domain www.forexwebservices.com for example is associated with Leverate CEO Ran Strauss and used to provide web services to scam brokers. Other domains associated with Leverate are used for trading and security purpose. But let’s stop here. That’s where we are already switching to the Leverate story.
We will continue the Leverate case shortly. Stay tuned.
