On Monday this week, the Italian regulator Consob ordered the blackout of the websites of Pips500 broker scam (www.pips500.com). This site is a scam and is allegedly operated by the UK-registered Preqster Ltd. This entity is operated and controlled by Latvian citizen Sergejs Vasiljevs and is part of the Latvian Racket. This company also appears as the operator of the scam forex broker Preqster FX (www.preqsterfx.com). The latter apparently targets Turkish investors exclusively and claims that the operator is Australian ASIC-regulated PQ Invest Pty Ltd. This is bullshit, of course!
According to our research, PQ Invest Pty Ltd does not exist in Australia with the stated Australian Company Number (ACN) 600351844, nor is it regulated by ASIC. On the website of Preqster FX, the address given is the same address in London where Preqster Ltd is registered: 27 Market Place, W1W 8AF (Companies House). Preqster Ltd was founded in May 2020 by Sergejs Vasiljevs, born in June 1992. He gives as his address 173 Latchmere Road in London as his the company’s correspondence address.
173 Latchmere Road we know! The Finex Group Ltd, already known from the previous Latvian Racket investigations and reports, has its registered office at this very same address (Companies House). Any doubts about the affiliation of Preqster, Pips500, Preqster FX, and Sergejs Vasiljevs to Latvian Racket? Rather not, right?
