There are still human beings living on earth, and that means there are fraudsters out there trying to scam them. On Monday, the Financial Conduct Authority (FCA) ), a UK regulator, released a statement warning retail investors to stay away from CEX Markets.
According to the regulator, the company, which claims to be owned by Fyremount Consultants Ltd, is attempting to trick people into handing over their hard-earned cash.
A quick scan through Google indicates that its the same old scam story. Multiple Facebook users said the firm’s callers promised high returns on investments only to run away with their deposits.
“I am heartbroken,” said one user, “they have stolen my life savings with their false promises and assurances.”
FCA Fake Address
The FCA warning indicates that the firm is purporting to operate from two London addresses.
One is on Hatton Garden, the heart of London’s diamond district. The other is on Old Broad Street, which, for those of you who are geographically-challenged, is near to Liverpool Street Station, in the center of London’s financial district.
It seems doubtful that the firm actually has people at those offices.
Last August, this author decided to inspect the offices of another firm that had been trying to scam people. Aside from a frum-looking girl and a bunch of mezuzahs, there wasn’t much to find.
The people running the scam office had simply registered their office there - possibly with the consent of the frum girl.
Anyway, if that experience is anything to by, then the chaps operating CEX Markets are probably not hanging out in Hatton Gardens.
No, they’re probably off in Russia or Slovakia somewhere, enjoying the fruits of their ill-gotten gains…
Well, there isn’t much else to say I’m afraid. Just remember, if anyone from CEX Markets calls you, think of the wise words once uttered by the great Nancy Reagan - “just say no.”
