Latest News in the Fight Against Fraudulent Brokers

Press Release                              

For immediate release                                                      

June 2018

Latest news in the Fight against Fraudulent Brokers – Giambrone has identified the Firm that helps to facilitate the Illegal Brokers Activities

Giambrone has discovered that the Mellius, a company based in Israel, appears to be behind a significant number of illegal brokerage firms, such as Banc de Binary, Binary Brokerz, Yes Option, Bank of Options, Binary Uno, Safe Option and Interactive Option. 

Mellius is a global firm that assists businesses to establish companies and other types of legal entities such as partnerships, foundations and trusts across the globe.  It appears that Mellius is responsible for incorporating large numbers of companies around the world, many of whom have been involved in financial scams resulting in the defrauding of hundreds of individuals, often for significant sums of money.

Mellius role in the fraudulent broker scandal is that it creates legal entities whose sole purpose is to hide the true identity of the scammers.  Using a combination of strategies the newly created firms shelter behind a serpentine structure of off-shore entities, this then enables the brokers to perpetrate such frauds as money laundering with impunity, safe in the knowledge that their tracks are completely covered.

Micha Rosenblat, who heads the firm as CEO, has ten years experience in his field of the establishment of legal entities across several jurisdictions, together with significant experience in capital and private equity, his experience presumably renders him capable of recognising his clients’ duplicity. 

Giambrone is currently considering legal action against Mellius, both criminal and civil, aimed at including all the individual Directors and Shareholders behind the corporate body, as well as Mr Rosenblat. 

Joanna Bailey, associate within the Giambrone Forex Litigation Team in London commented: “We have worked with the utmost commitment to search behind facade of the fraudulent brokerage industry, having finally identified one of the companies that are responsible for facilitating fraudulent brokers to elude the law will considerably assist Giambrone to counter and fight such illegal activities with more vigour. This will also send an important message to all the fraudulent brokers, the companies helping them hide and the individuals behind them. Finally, such developments will reassure our existing clients and people scammed worldwide that justice will be made and wrongdoers will be held accountable.”

Ends

Editor’s notes

Giambrone is a mid-tier international law firm with offices in London, Rome, Milan, Palermo, Barcelona, Glasgow, Munich and Tunisia; advising in both commercial and private clients on a wide range of legal and commercial issues including complex cross-border matters ranging from banking and finance, Forex fraud, mergers & acquisitions, immigration, intellectual property, cross-border debt collection and employment.  Giambrone also advises in divorce, probate, real estate, employment, personal injury for private clients.

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