Update On Bluetrading Scheme – Follow The Money, Find Perpetrators And Their Funds

The FinTelegram Research Team has been working intensively for several weeks on the Bluetrading-Scam to identify the companies and perpetrators behind the scheme. For this purpose FinTelegram cooperates with the involved payment services providers B2G GmbH and Teleport Kft. In the last days we received first concrete results about the money flows and the involved companies behind Bluetrading.

• Payments from Bluetrading clients have been transferred to the Bulgarian Investbank with Finmaster Group Ltd, registered on the Marshall Islands, as beneficiary.
• Finmaster Group Ltd is allegedly the shareholder of the Cypriot MPower Technologies Limited.
• Finmaster Group and MPower Technologies are also linked to the CFD Corporate and the BinaryCorporate scheme
• the perpetrators behind Bluetrading have also been involved in the CashlessPayGroup crypto scam in late 2018.

PSP Communication And Payment Instructions

In our research, we could establish and verify the hypothesis that the companies and perpetrators behind the CFD Corporate scheme (www.cfdcorporate.com) are also behind the Bluetrading scam.

The email communication of the Bluetrading people with PSPs took place via the domain CFDcorp.co, which is associated with the CFD Corporate scheme. This is another illegal and fraudulent broker scheme that has been warned of by the UK Financial Conduct Authority (FCA) in June 2018:

Another company associated with the CFD Corporate scheme is the Cyprus-registered Mpower Technologies Limited. Mpower Technologies and the CFD Corporate scheme have also received cease and desist orders from the Saskatchewan Financial Market Authority (Canada) in April 2017.

MPower Technologies is also the operator of the illegal binary options site www.binarycorporate.com which was launched late 2015. So far, the following domains and schemes have been involved with the perpetrators around Bluetrading:

CFD Corporate was involved in one quite elaborate crypto scam around CashlessPayGroup and the fake Singapore Coin. Read more about this incredible scam here.

Investbank Involvement

Like many of these scams, the Bulgarian Investbank is again the focus of the money laundering activities. The payment transaction providers (PSP) involved, such as the German B2G GmbH and the Hungarian Teleport Kft, were instructed by the Bluetrading people to transfer the money to the account of Finmaster Group Ltd with the Bulgarian Investbank (IBAN BG82IORT8048148720xxxx).

As in the case of Bluetrading, a Swiss telephone number is also given in the case of CFD Corporate. CFD Corporate has released its own app, which is still available in the Google Play Store. CFD Corporate the potential client promises up to 89% profit.

In fact, the perpetrators behind MPower Technologies Limited and Finmaster Group Ltd seem to work from Sofia, Bulgaria.

FinTelegram will continue to work closely with the involved PSPs and the respective authorities to identify the perpetrators and the funds for recovery purposes.

Report People And Activities

If you hav any information on the Bluetrading scam and/or the perpetrators and companies behind the scam we would be more than happy to receive them. Please share your information with our FinTel Research Team via our whistleblower system: