The Estonian regulator Finantsinspektioon issued a warning against Baumont Solutions OÜ and the scam 24NewsTrade (www.24news.trade) on 13 April 2020. The Spanish CNMV issued a warning against Baumont Group Ltd, registered in St. Vincent & The Grenadines, and its scams StockFX (www.stockfx.co) and 24NewsTrade (www.24news.trade) on June 15, 2020. The German BaFin issued a Cease and Desist Order against 24NewsTrade on May 25, 2021. This did not bother the scam operators. 24NewsTrade is still online. On 11 Sept 2021, the Austrian FMA issued an investor warning against the illegal broker. An impressive list, isn’t it?
The Portuguese regulator CMVM also issued a warning against the Baumont Group and StockFX scam in April 2021. The address of the scams in Luxembourg also indicates that the scammers behind it also operated the Finaxis (www.finaxis.io) scam
The scam apparently allegedly operates with the offshore entity in St. Vincent & The Grenadines and the Estonian company to target consumers and investors in the EU and steal their money. While we have been able to find the Estonian entity, the offshore entity is not registered with the Financial Services Authority (FSA) in St. Vincent and the Grenadines. The sole registered director of the Estonian Baumont Group OÜ is Yanee Anna Cecilia Gillgren, a Swede born in August 1988.
As a payment processor, Bitwala GmbH, registered in Berlin, Germany, has supported the scam until recently. This was renamed NURI GmbH in May 2021. Currently, at 24NewsTrade, only deposits via cryptocurrencies are possible.
If you have any information about Baumont Group, its scams, and its facilitator, please share it with FinTelegram.
