An investigation by the BBC on telephone trading fraud has brought to light a fraudulent company called BproFX, which according to the news organization and several online trading websites, is registered in Dominica.
The name of the company came up in a year-long investigation into what the BBC said is a global scamming network that “has robbed ordinary investors of more than a billion dollars.”
The findings of the investigation were revealed in an exposé entitled “On the hunt for the businessmen behind a billion-dollar scam.”
According to the BBC, telephone trading scammers usually target unwitting elderly or retired people and often have their financial and social circumstances used against them.
It gave an example of Jane, whose name was changed for the story, as a perfect target for the scammers.
“She had just taken voluntary redundancy and had a lump sum of nearly £20,000 that she thought, invested wisely, could supplement her pension in the years to come. In June 2020, during the first lockdown, she saw an ad online for a company called EverFX,” the story reads.
A message was sent to the company’s website and she was connected to someone by the name of David Hunt, who she was told was a senior trader who knew his stuff and how the market works.
They began to correspond regularly and over the next few months, Jane invested about £15,000.
“But her trades weren’t doing well. Hunt advised her to withdraw her money and invest with a different trading platform, BproFX, where she could get better returns,” according to the BBC.
What Jane didn’t know was that BproFX was an unregulated, offshore entity registered in Dominica.
Putting her full trust in Hunt, Jane agreed and by September 2020, Jane agreed to put £20,000 into BProFX but she kept on losing money.
What is BproFX?
“According to several trading websites, the company is an offshore broker owned by Dynamics Solution Ltd. This broker is located in the Commonwealth of Dominica, a popular offshore zone,” the website, scamwatcher.org, said.
The website pointed out that investors should stay away from BproFX, “as they are anonymous and that they can disappear at any time without notice. To make sure you are dealing with a regulated and known broker, you should be able to find easily who the CEO of this brokerage firm is, who is running it, etc,” the website stated. “Lack of
information is a big red flag since you don’t know who is dealing with your money. This is the reason why funds are not safe with BproFX.”
Another website, theforexreview.com, stated that although the company is based in the Commonwealth of Dominica, “this is a country that has no FX regulator.”
“It makes no difference if the broker is registered there; without a regulation, its services are illegally offered,” the site said.
At this point, it is unknown whether BproFX is still in operation.
Attempted visits to bprofx.com show that this domain is no longer in operation.
The website, scamrecovery.net, says bprofx.com is restricted in the United States.
Although the company is based in Dominica, it has a United Kingdom number, +44-203-807-6741.
Several calls were made to the number by DNO but the calls were answered by an automated voice that said, “Your call is very important to us. Please stay online while we transfer you to the next available agent.”
The calls were placed on hold while background music played. No agent actually answered the phone.
Since losing her money to the fraudulent Dominica-based company, Jane has pursued various routes to get it back but it has been to no avail. According to the BBC, the UK’s City of London Police took a report from her but “nothing came of it.”
Her bank was not able to help either, “apart from writing a few letters.”
She has since taken to online review websites to write on trading brands that have scammed her.
“I just wanted to warn anyone else who might fall for it,” she told the BBC.
“I put a lot of effort into that. I hope someone sees it.”
Read the full BBC story here: https://www.bbc.com/news/world-65038949
So much for the claim of “due diligence” by the rulling cabal. At this point they have no shame and have allowed the once good name of Dominica to become synonymous with mafioso. Remember that it was the Labor party which campaigned against the then ruling UWP on claims of corruption. Every school child will have heard of the story of the person who cried “wolf, wolf”. Now so many are engrossed in the corruption and enriching themselves that the good name of Dominica is now substituted for the size and value of their personal and private bank accounts and accumulated largesse. Anyone who studied for their PhD would have understood the damage this continuing illegal activity is doing to a people and country and step up efforts with the help of reputable foreign agencies to stamp it out. . It’s not what they say but what they do that truly matters. Most foreign banks have left the cess pool of corruption before it’s too late. Dominica I’m sorry.
Are you a Jacka? You are giving a whole lecture about Samuel Johnson,according to you from inside source,but at the same time you are asking DNO if Samuel Johnson is an engineer.At least Dominicans got $250,000 $300,000 and $400,000 houses and apartments from Skerrit’s CBI.The international airport is CBI.What does you and your party have to show for the hundreds of millions of dollars collected from the Reengineered Citizenship Programme?The lawyer who stole $195,000 from the poor lady was a UWP minister.The one who was caught red handed in a conspiracy to launder more than $2,000,000 into Dominica is a member of UWP.The lady with the blue box,from Laplaine,who stole thousands of dollars of poor people insurance money is a supporter of UWP.Sticky fingers is UWP chief.All these people are from the Scammonwealth of Dominica.
Are we patriots going to stand aside and allow MY DOMINICA’S once good ‘reputation’ and ‘image’ be tarnished by EVIL and ‘GREEDY’ Dominican monsters / hyenas, dealing in bribery & corruption, fraud, graft, and other such skullduggery?
Oh My Dominica, I have great sympathy and sadness for your plight and suffering? My heart bleeds for you!!!!!
You are a jacka.., being registered in Dominica doesn’t mean it’s based in Dominica 😆😆😆😆
This leaves me wondering if a recent illegal inquiry to determine the amount in my bank account, via my debit card, could be linked to this scam. Fortunately my bank became suspicious of the activity and immediately put my card and account on hold.
As I’m wary of investments, I doubt that they would have got far with me. But nevertheless, I’ve had the inconvenience of having to change my card and passwords as a precautionary measure.
I wonder if any other DNO readers have had a similar experience.
International business cooperations, exempt companies, llc… can all be registered in one country and have no physical location in that country. They only require a location for serving if documents etc.. usually, a lawyers office. But in most instances, these companies have no actual businesses or operations in the country of registration.. please correct these nonsense
A company being registered in dominica is not the same as being based in Dominica.
No, but they can register here, for a fee and as long as no proper due diligence is carried out by us, they are allowed to flourish and give us a bad name. But who cares about that, as long as we get paid for that registration.Is only their money we want, not so?
What is due diligence? you just hear the word and here you go repeating it.
@Yesi, what’s your point? The name and reputation of the country still gets degraded. Some took Lennox to task for “tarnishing the good name of Dominica when he gave an interview to CBS, where are their voices in the face of many more egregious stories of corruption tarnishing the good name of Dominica. Dominica has to ensure it’s name is not associated with crooked companies wether overseas or in the country. Who’s guarding the guards?,Yesi?
There is scamming and fraudulent schemes all over the world. But Dominica attracts more scammers, international fugitives, money laundering crooks than most other countries.
Heaven does attract thieves, hell does that; A rose flower doesn’t attract flies, garbage does that; cleanliness doesn’t attract roaches, filthineess does that. Dominica a heavenly attraction for the most hardened bandits and criminals from even the remotest places on earth.
What else is new in the Scammonwealth of Dominica under Labour? I have it from inside source that the apprent building of an international airport may be the Scammonwealth most ambition money laundering scam to date!
Where you ever hear of such a major infrastructure project being managed by a man who is not an Engineer with no Engineering background, but the company he worked for in Florida just coincidentally is also selling Dominican passports while he has just completed his Copthall Villas Hotel with CBI passport money?
Ask the Minister of Tourism Denise Charles how did Samuel Johnson get the job as CEO for the International Airport Development? Once someone starts working for this Labour government it leads back to CBI passport sales and they being bought by the Prime Minister. How many Civil Engineers in Dominica did not get that job? DNO is Smauel Johnson an Engineer? Do you all homework Dominica media. Follow the money!
CBI Opportunities
https://shjinc.com/m/login?r=%2Fcbi-opportunities