Open Letter To 4XFX Operator

Dear Oliver Hemmer,

we have received notarized and hence official documents proving that you, as Managing Director and ultimate beneficial owner (UBO) of GFR Europe OÜ, were responsible for the operation of the illegal and fraudulent brokerage site www.4xfx.com. Feel free to download the respective Apostille here and/or read our report here. That said, we are approaching you on behalf of the many victims of this scheme and other schemes related to it.

FinTelegram received evidence that GFR Europe has received funds from many 4XFX customers via various PSPs such as Rapid BO and has apparently misused those funds. Where are these client funds? You knowingly and willfully took those client funds and evidently did not hold them in segregated accounts as requested by law.

Furthermore, according to the reports and documents of our readers, GRF Europe worked with the customer data of XTraderFX. It is to be assumed that you have unlawfully acquired this client data from E&G Bulgaria and are using it illegally for your own profit. Boiler room agents of 4XFX have contacted EU people to (a) convert them into 4XFX clients and/or (b) urge them to deposit additional funds into your illegal broker scheme (retention service).

The European Funds Recovery Initiative (EFRI), supported by FinTelegram, will shortly send you an official letter requesting information for funds recovery purposes. In addition, we will take all necessary measures to obtain further background information and recover the money of the fraudulent investors from 4XFX, XTraderFX and related illegal broker sites.

We kindly ask you to answer the EFRI letter or contact the EFRI team. In case you have been used as a frontman or “monkey” as those perpetrators call it, you may be well advised to cooperate with EFRI and the respective authorities to expose the ultimate perpetrators.

Best regards
FinTelegram Team

P.S. if you feel offended or slandered by disclosing your business data please be advised that the many desperate victims of your scheme(s) feel definitely worse. They lost money and you are responsible for this.