Ongoing Investigations into the Cartu Brothers and Their Alleged Binary Options Empire
The infamous trio — David Cartu, Jonathan Cartu, and Joshua Cartu — remain high-priority targets in international financial investigations. They are at the center of legal actions initiated by both the U.S. Commodity Futures Trading Commission (CFTC) and the Ontario Securities Commission (OSC) in Canada. These authorities accuse the Cartu brothers of orchestrating a massive binary options fraud operation, allegedly defrauding retail investors of no less than $165 million.
However, this figure might represent just a portion of the overall damage. According to the CFTC, not all entities operated by the Cartu brothers were included in the legal complaint. This raises suspicions that the GreyMountain Management Ltd (GMM) scheme, among other structures, processed a significantly larger sum.
Joshua Cartu’s Defense and Alleged Affiliations
In November 2019, prior to the public release of charges by the CFTC and OSC, Joshua Cartu provided a statement where he denied any direct involvement with GMM or binary options fraud, claiming that only his brothers were responsible for those activities.
He also asserted that he had been residing in Hungary, where he was engaged in the online casino sector, supposedly working with a company named AEGIS Labs (LinkedIn profile).
Investigative Leads: AEGIS Labs, Kav Sheroot Tech & Sandbox Media
Reports from multiple whistleblowers have pointed to AEGIS Labs (accessible via aegislabs.eu) as having connections to other firms allegedly involved in fraudulent operations:
-
Kav Sheroot Tech Ltd. — An Israeli call center operation (kavsheroot.com)
-
Sandbox Media — A now-defunct Canadian company (sandboxmedia.ca)
It has been claimed that these companies may have also played roles in running binary options scams, possibly acting as facilitators or operational nodes within the broader Cartu network.
Call for Whistleblower Support
Since 2018, Scam-Or Project has been actively investigating the GreyMountain Management fraud network. Thanks to numerous sources and confidential tip-offs, we have compiled substantial intelligence on the operations, entities, and individuals involved.
We are committed to aiding law enforcement and victims in the pursuit of justice. If you possess any relevant information about the Cartu Brothers, GMM, or their affiliated companies such as AEGIS Labs or Kav Sheroot Tech, we urge you to come forward.
Please share any details securely via our dedicated whistleblower system.
Contact & Submit Information
To contribute to this ongoing investigation, visit our secure whistleblower platform available on Scam-Or Project’s website.