Key Data Table
Role or Function
Entity, brand or individual
|Related Brands:||KontoFX, UProFX, EZcryptospace, UProFX|
|Beneficial Owner:||Petar Borislavov Zlatkov (Bulgaria)|
|Beneficial Owner Entity:||NTMT Transformatic Markets OÜ (Estonia), Yield Enterprise Currency Software OÜ (Estonia)|
|Website Operators:||NTMT Transformatic Markets OÜ (Estonia), Yield Enterprise Currency Software OÜ (Estonia)|
|Boiler Room Entities:||Mercure Group OOD (Bulgaria), previously Rax Media OOD (Bulgaria), ABG Global EOOD (Bulgaria)|
|Boiler Room Individuals:||Jack Henry Wydgoski (Belgium/Israel), Avi Itzkovich (aka Avi Itzkovitz)|
|Legal Opinion:||not yet known (Israel)|
|Payment Services Provider:||International Fintech UAB, Hermes Solution Pdogorica DOO (Montenegro), Moorwand Ltd (UK) dba UPayCard, PSI Pay Ltd (UK) dba EcoPayz|
|Bank Accounts:||Czeska Sporitelna (Czech Republic), TBI Bank (Bulgaria, Atlas Banka (Montenegro), KBH Andelskasse (Denmark)|
In 2018 and 2019 the financial market authorities UK FCA, Australia ASIC, and Austria FMA issued investor warnings against the illegal broker schemes KontoFX and EZcryptospace and its Estonian operating entity NTMT Transformatic Markets OU. On Dec 12, 2019, the German watchdog BaFin issued a cease and desist order against the Estonian Yield Enterprise Currency Software OU for operating the broker scheme Libra Markets (www.libramarkets.com). Previously, this company has operated the UProFX scheme.
The Bulgarian Petar Borislavov Zlatkov is recorded as the sole director in both companies. This guy is also the sole director of Yield Enterprise Currency Software OU registered in Estonia. While KontoFX, UProFX, EZcryptospace vanished already in the dark of cyberspace, Libra Markets is still actively defrauding investors.
The Bulgarian Boiler Rooms
As a matter of fact, operating entities, and frontmen change frequently. The lifetime of a scam brand is very short and rarely longer than 2 years. Learn more on operating entities and individuals behind above scams
On the other hand, the boiler rooms remain behind the scam brands are here to stay. The client-victim data of the scams are used for the next scam after the disappearance of the previous one. Typically, client-victims of a vanished scams receive calls from the boiler room agents to convince them to switch to the new scam brand. In this respect, the ultimate perpetrators of the scams are the boiler rooms and their employees. Many of the largest and most dangerous boiler rooms have been built in recent years in Belgrade, Serbia, and Sofia, Bulgaria.
Even after the arrest of the Israeli Wolf of Sofia, Gal Barak, and the disappearance of his E&G Bulgaria EOOD, the boiler room operators behind KontoFX, UProFX, EZcryptospace or Libra Markets are still active in Sofia. These include Mercure Group OOD (formerly Rax Media OOD) and ABC Global EOOD. The latter, however, provides false company information on its website. The company cannot be found in the Bulgarian company register.
The Belgrade Connection
In May 2018, the official ownership of Mercure Group OOD was transferred to the Serbian citizen Stratorija Semilovic which would mean that, maybe, this Bulgarian boiler room is now controlled from Belgrade, Serbia. Actually, this would not come as a surprise. Belgrade is another boiler room hub in Europe and conveniently Serbia is not a member of the European Union.
Belgrade is home to large boiler rooms such as Parogan DOO, Tera Media DOO or Daisy Marketing DOO. Until 2018, Gal Barak used to operate My Markets DOO in Belgrade together with local partners and lawyers.