MIA arrests founders of FX Group for cybercrime and securities fraud
Using fraudulent scheme the offenders have illegally stolen 500,000 GEL. Photo: efinancialcareers.com
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The Ministry of Internal Affairs has arrested three founders of the FX Business Group on accusations of cybercrime and securities fraud.
“A five-month investigation has revealed a fraudulent scheme through which the offenders have financially damaged up to 50 citizens. The detainees lied that they were representing a brokerage company on the stock market and said that if customers put some money in a certain account the company would help them get additional profits,” the MIA said at a special briefing today.
Investigators say that after their clients placed an agreed amount of money in the account indicated by the FX Group, its founders started changing their computer data through artificial manipulations in order to create a situation as if the money had been lost as a result of unsuccessful trade and it was not the company’s fault.
Using this method the offenders have illegally stolen 500,000 GEL.
The FX Business Group was registered in August 2016 and its founders “were pretending as if they were trading in global stocks.” The detainees are facing imprisonment of seven to 10 years.
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