Instagram Appearance While Under Investigation
At a March 25, 2021, hearing before the Ontario Securities Commission (OSC) regarding fraud allegations (File No. 2020-14) against David Cartu, Jonathan Cartu, and Joshua Cartu, the latter failed to appear or send legal representation, despite having been duly served. The OSC is not alone in its pursuit—Joshua Cartu and his brothers are also being targeted by the U.S. Commodity Futures Trading Commission (CFTC), which has filed a civil enforcement action (Case 1:20-cv-00908). The complaint accuses the Cartu brothers of operating unlicensed binary options trading platforms that allegedly siphoned over $165 million from unsuspecting investors.
While both North American regulators are actively seeking him, Joshua Cartu recently reappeared publicly—posting photos from Moscow on his Instagram account.
Alleged Operations and Associated Entities
According to filings from the CFTC and OSC, the Cartu Brothers were involved in multiple fraudulent binary options schemes between 2013 and 2018. Key platforms cited include:
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BeeOptions (www.beeoptions.com)
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Glenridge Capital (www.glenridgecapital.com)
Additionally, the CFTC referenced Rumelia Capital and the now-defunct GreyMountain Management Ltd (GMM), an Irish payment processing firm. Between 2013 and 2017, an estimated $165 million in investor funds was allegedly processed through GMM and other affiliated entities.
Luxury Lifestyle and Denials
Canadian-born Joshua Cartu is widely known for flaunting his lavish lifestyle. With over 817,000 Instagram followers (@jcartu), he frequently shared images featuring:
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Exotic sports cars
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High-end real estate
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Private jets and international travel
Despite the serious fraud allegations, Cartu has denied any involvement in the binary options operations linked to his brothers. In previous statements he claimed to be a legitimate online gambling entrepreneur managing AEGIS LABS in Hungary.
However, Cartu had gone silent for several months—both in response to inquiries and on social media—until May 2021, when he uploaded a new post from a Russian aircraft in Moscow.
Remaining Untouched in Russia?
Insiders and whistleblowers suggest that Joshua Cartu may have retained significant wealth from his time in the binary options business. His presence in Moscow could provide a form of unofficial immunity, as no extradition or legal action appears imminent there.
Have information about Joshua Cartu or related fraud operations? Contact Scam-Or Project.