Overview of Global Trader Scam
On November 12, 2021, Scam-Or Project published a report exposing the Global Trader broker scam (www.globaltrader.io). The UK Financial Conduct Authority (FCA) has issued an official warning against this fraudulent operation. The scam falsely claims to have offices in Canary Wharf, London, but no information about the operating legal entity or jurisdiction is provided.
Disclaimer:
Dream Finance OÜ, an Estonia-based licensed crypto payment processor, was identified in the report as a payment processor for the scam. However, the company issued a statement to Scam-Or Project clarifying that it does not support scams and that it was abused by UK-registered Charge Money Ltd in this case.
Payment Processors Involved
| Processor | Role | Details |
| PayPound | Credit and debit card payments | Allegedly operated by PayPound Ltd and PayPound LDA. |
| Dream Finance OÜ | Cryptocurrency deposits | Licensed crypto payment processor. |
About Dream Finance OÜ
Dream Finance OÜ operates under the trading names CryptoProcessing (www.cryptoprocessing.com) and CoinsPaid (www.coinspaid.com).
Key Details:
- Jurisdiction: Estonia
- Directors: Maksym Krupyshev and Frederic Georges Hubin
- Services: Licensed for cryptocurrency payment processing.
Dream Finance clarified that Charge Money Ltd misrepresented itself and abused their services to process payments for the Global Trader scam.
About PayPound
PayPound (www.paypound.ltd) has been identified as another payment processor for the Global Trader scam.
Key Details:
- Operators: Allegedly run by PayPound Ltd and PayPound LDA.
- Ownership: UK-registered PayPound Ltd was controlled by Indian citizen Amaranatha “Amar” Puttana, born August 1979.
- History:
- PayPound Ltd was dissolved in 2019 via compulsory strike-off.
- Puttana previously directed Quidpay Limited, also dissolved via compulsory strike-off in 2019.
Conclusion
The Global Trader scam highlights the risks posed by fraudulent brokers and the payment processors that facilitate their operations. While Dream Finance OÜ has taken steps to clarify its position, PayPound’s history raises further questions about its legitimacy.
Call for Information
If you have any additional information about Global Trader, its operators, or the payment processors involved, please share it through our whistleblower platform, Whistle42. Your contributions are crucial in exposing and mitigating financial scams.