Market Cap:
$221B
BTC Dominance:
65.82%
btc:
$8,066.66
eth:
$177.10
xrp:
$0.30
Advertise
Forex

Is Trading Advisor Mediatrix Capital scam or reliable? SEC files complaint

Is Trading Advisor Mediatrix Capital scam or reliable? SEC files complaint

Is Mediatrix Capital scam or reliable? US SEC has obtained a temporary restraining order and asset freeze against three individuals and three entities engaged in a suspected international trading fraud.

September 19, 2019, | AtoZ Markets – The U.S. Securities and Exchange Commission (SEC) announced on September 18 that the proceedings initiated urgent action against suspected unlawful Ponzi-like scheme company Mediatrix Capital Inc

Meanwhile, three companies and the assets of three people affiliated with Mediatrix have been frozen, whose activities were international and it is estimated that investors lost more than $125 million.

See also: SEC fines ICORating for misleading ICO reviews

Mediatrix allegedly grabs $125 million in a Ponzi-like scheme

According to the information contained in the files of the initiated proceedings, Mediatrix Capital Inc. began operations since March 2016. Its principals Michael S. Young, Michael S. Stewart, and Bryant E. Sewall encouraged investment as part of a highly profitable algorithm-based strategy that has generated total profits of over 1600% since December 2013.

On the contrary, the data obtained by the watchdog shows that in fact, the trading strategy led to permanent losses, which in 2018 alone amounted to $18 million.

The aforementioned individuals have allegedly provided false information on the profitability of the trading strategy in the form of fake statements of accounts and making Ponzi-like payments. 

Is Mediatrix Capital reliable?

The SEC has evidence of embezzlement of over 35 million funds raised from investors and their use for private purposes, including the purchase of jewelry, three Land Rovers and luxury real estate worth more than $12 million. The SEC is seeking civil fines and to recoup ill-gotten gains.

The statement issued by the director at the regional office of the SEC in Denver, Colorado, Kurt L. Gotschall reads:

“We are arguing that the scheme has led to investors losing tens of millions of dollars, partly used to lead a luxurious life. […] The SEC will use its best endeavors to bring the accused liable and ensure the repayment of the deceived persons. “

The SEC’S continuing investigation is being conducted by Jeffrey D. Felder and Tracy W. Bowen from the regional office of the SEC in Denver, in cooperation with the Commodity Futures Trading Commission (CFTC), the FBI and financial regulators from the United Kingdom, New Zealand, Bahamas, Cayman Islands and banks central from the Czech Republic and Armenia.

Think we missed something? Let us know in the comments section below.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

Premium Brokers

Your capital is at risk.