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  • Writer's pictureGlobal FTI Team

Polish Police Raid FX/CFDs Call Centre Operator, Arrest 20 Dealers

In what could be a harbinger of a wider crackdown, the Polish police carried ‎out a raid on the Warsaw offices of Amplio Investments, a company that ‎operates call centers for several forex brands, including CFD 1000, VORTEX ‎ASSETS, and MIB 700. Authorities have arrested 20 of the company’s top managers ‎and salespeople‏.‏

Officers from the Police Central Investigation Bureau (CBŚP) accused a total 36 workers of providing ‎investment advice without a license, as well as aggravated fraud, all of ‎which allegedly occurred between 2016 and 2018.

A police statement alleged that the company engaged in fraudulent practices using false ‎advertisements and solicitations. Victims claimed that after being contacted and misled, they ‎did not have any funds remaining on their accounts.‎

Officials believe Amplio Investments played an influential role ‎in operating several investment scams that swindled ‎victims spanning Poland, Italy, Russia, and ‎Kazakhstan.‎ Over the past six months,‎ authorities have received 350 claims, but police investigations showed that there were other victims who ‎did not lodge complaints.‎

‎Ever since its dissolution, clients of the forex/CFDs ‎brokers said they have lost more than PLN 18 million ‎‎($5.30 million).‎ Police managed to seize some assets of ‎suspected brokers, all of which were worth PLN 5.2 million.‎

The victims were duped into parting with their money by representatives of Amplio Investments‎, who ‎misrepresented themselves and used forged documentation.‎

According to the investigation, the sales staff were using a very ‎aggressive method of soliciting potential investors. They have been promoting their ‎services as very profitable and reliable while convincing the investors to deposit ‎large sums of money. ‎Once the clients were hooked, they were given financial advice from the brokers that ‎usually lead them to bankruptcy. ‎ Credit: Finance magnets, Aziz Abdel-Qader | Regulation ( Retail FX ) | Tuesday, 10/04/2018.

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