Suspicion: Operate a dealer arena without a license and raise hundreds of thousands of shekels – general

Misleading investors, money laundering, an unsupervised platform and without a license and raising at least hundreds of thousands of shekels. These are just some of the suspicions that have arisen against the operators of the “Tradepro” trading arena in an investigation conducted by the Securities Authority against the owners of the arena.

The Securities Authority’s Investigations, Intelligence and Trade Control Department transferred the investigation file regarding the trading arena regarding the management of the non – licensed trading arena to the Securities Department of the Tel Aviv District Attorney’s Division in the Taxation and Economics Division.

The open investigation into the investment merchant arena opened in February 2020. According to the suspicion, offenses were committed in managing the merchant arena, with TradePro operators operating without a license and appealing to investors to trade in an unauthorized merchant arena, with suspects also receiving fraudulent and money laundering offenses.

“According to the findings of the investigation, misleading representations were made to customers and it was alleged that the trading venue is monitored by the British regulator (FCA) to persuade them to invest in the arena,” the Securities Authority said in a statement. For losses in accounts translated into the profits of the suspects, “they added.

The letter of suspicion also indicates that the findings of the investigation revealed that during the period in which the arena operated, the suspects raised funds from 17 customers, at least in the amount of hundreds of thousands of shekels.