German BaFin Initiates Probe into Apollo Finances and Its Operators

DMCA Complaint Filed Against Scam-Or Project Reports

Recently, individuals connected with Apollo Finances and MGX Consalt Group submitted a Digital Millennium Copyright Act (DMCA) complaint to Google, aiming to remove coverage published by Scam-Or Project. They claimed that their rights had been infringed and requested Google to delist the warnings. Scam-Or Project understands their frustration and, in response, reiterates its public warning.

Ongoing Warnings and Regulatory Action

Scam-Or Project has repeatedly published warnings regarding Apollo Finances over the past years. Currently, the German regulator BaFin has launched an official investigation into the broker scam.

Key Information

• Domains Involved:

• www.apollofinances.com

• www.apolofinance.com

• Operating Entity:

• MGX Consalt Group Ltd, based in the Marshall Islands

• Identified Payment Processors:

• PayTechno, operated by Israeli national Asaf Itzak Rubin

• iPayTotal

• NeoBanq

These payment service providers processed payments for Apollo Finances, supporting its operations.

Previous FCA Investor Warning

The UK Financial Conduct Authority (FCA) issued its own investor alert against Apollo Finances back in June 2021. Despite this regulatory action, the operators attempted to suppress Scam-Or Project articles through copyright complaints, which did not succeed.

Current State of the Scam Operations

The websites linked to Apollo Finances have since gone offline. However, the teams behind these operations are expected to continue targeting consumers under different brand names and websites.

Report Fraudulent Activities

If you encounter scams or their enablers, report them to help protect other potential victims.