The alleged online broker Fortexo sells itself as a decent platform for online trading. However, there is increasing information that there are strikingly many inconsistencies at Fortexo. More and more traders are coming forward talking about telephone terror, rip-offs and investment fraud at Fortexo. All investors lost their money invested with Fortexo. Doubts are announced. Meanwhile, many investors of Fortexo are worried that it is an investment fraud. All Fortexo investors are wondering if they have been victims of investment fraud? And what can Fortexo investors do if the suspicion of investment fraud is substantiated? Will Fortexo investors get their money back? Does it make sense to file a criminal complaint against Fortexo with the police? Where can I get help with investment fraud?
Fortexo: Half-silent statements on fortexo.co!
What do surprised investors read on fortexo.co? "Fortexo is one of the most reputable Forex CFD providers, offering trading solutions for active day traders and scalpers, as well as traders new to the Forex market...Fortexo offers its clients state-of-the-art trading platforms, low latency and excellent liquidity...Fortexo is revolutionizing online forex trading...Traders now have access to pricing previously available only to investment banks and high net worth individuals." This is just a small example of the exaggerated promises investors will find on Fortexo's website. Not a single one of these given promises by Fortexo has been kept. Sadly, the questionable business conduct rather makes for unhappy investors and bad experiences!
Fortexo: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Fortexo makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If one takes a look at the domain data of Fortexo's website, there are no references to the operators. However, one learns that the domain was registered with Porkbun only on 06.01.2021.
Fortexo: Who is behind it?
Answering this question will be rather difficult for many investors, since the Fortexo makers do everything to conceal the true circumstances. However, this is nothing unusual. The perpetrators usually operate several of these websites with the same fraudulent business model. These are created in advance, quickly put online and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? There is scant information about this on the Fortexo website. It does list Flab Group LTD. with a business address of Suite 307, Griffith Corporate Centre, Beachmont, P.O. Box 1515, Kingstown, Saint Vincent and the Grenadines, but the makers of Fortexo cannot be found under this address. In addition, there is the obligatory support e-mail address, but no telephone number.
Fortexo: The customer acquisition of the investment fraudsters
The same approach can be found here again and again: In order to attract new customers, the offers of Fortexo are presented in all available media and channels. Again and again, the offers are false promises. Furthermore, they upload image films on Youtube in which prospective customers are convinced with false references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with the erroneous reference to the TV show "Die Höhle der Löwen". With the same intention, an affiliate program is usually started to motivate others to beat the advertising drum for Fortexo.
Fortexo: criminal business practices.
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software, such as AnyDesk or TeamViewer on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. In some cases, even small sums are returned in order to lull investors into a sense of security. Who then does not want to further increase the stakes? But what happens next?
Fortexo: repayment of money is subject to conditions
Once in, an exit is mostly impossible. Rather, the administrators of the investment scammers tie a repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits, is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course, the "savior" wants a small fee - in advance!
Fortexo: Scheme of investment fraud?
There is no authorization of the online broker Fortexo. Fortexo lacks the regulation of a recognized European supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma), which is responsible for Switzerland, or the Financial Market Authority (FMA) of Austria. For this, there is a warning from BaFin dated 27.08.2021. It is hard to overlook the fact that Fortexo is a scheme of capital investment fraud. All investors harmed by Fortexo are advised to consult an investment fraud attorney immediately.
Fortexo: Where are the investment fraudsters actively operating?
There is no doubt that Fortexo investors are dealing with investment fraud in Germany, Switzerland and Austria. Unfortunately, Fortexo's activities were not limited to the DACH region. Since Fortexo equally addresses investors in Italy and Spain, it is not surprising that the defrauded traders from these countries also come forward. A look at the list of regulators is recommended before any financial commitment to reduce the risk of becoming a victim of investment fraud.
Fortexo: Claims for damages against banks involved
A license from the German Federal Financial Supervisory Authority (BaFin) is a mandatory requirement for financial services and investment transactions in Germany. It is forbidden to conduct, support or facilitate such business, including cross-border business into Germany. Companies that nevertheless participate in such transactions are obliged to pay damages to those affected. Such investment fraud cases would have been unthinkable without these banks.
Fortexo: Investors want their money back!
The situation is far better than it appears. The aggrieved parties can take countermeasures and reclaim their invested money. As of now, it is not likely that the Fortexo investment fraudsters will be caught in time, but there is still reason to hope. Especially because the transactions of the funds went through accounts provided by reputable banks. These have demonstrably failed to check the deposits of the investors, some of which were high and therefore subject to control, and their forwarding for illegality. Such omissions made the investment fraud possible in the first place.
Fortexo: They want their money back! How does it work?
Equipped with this knowledge, no one would have agreed to invest with Fortexo. Now the only way left for them is to try to recover the invested capital. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions have a duty to take action against money laundering. This is where one starts with good chances of success. First of all, relevant points should be clarified. To which destination have the funds embezzled by Fortexo been taken? Are there realistic prospects that the defrauded investors will get back the money they invested with Fortexo? What actions are advisable now? A lawyer specializing in investment fraud will be happy to answer such questions thoroughly.
Fortexo: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can victims of Fortexo hope for? Fortexo victims will ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your Fortexo case both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility, because he is also familiar with the methods of fraudulent brokers, such as Fortexo.
Fortexo: Follow the money trail!
Such abuses on the unregulated capital market pursue the Anlegerschutzkanzlei Resch attorneys for over three decades. The methods of the Fortexo are thus nothing new. Over the years, Resch Rechtsanwälte has developed an effective arsenal of instruments for tracking down the money that has been shifted and tracing the money flows. In times of the Internet, it is becoming increasingly difficult to make funds really disappear. The faster investors track the money, the more promising it is that they will get back their invested capital. It is important now that investors who have been harmed by Fortexo take immediate action.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have become a victim of Fortexo and want to know if and how you can get your money back, call 030 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.
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