The Surprise of 2020: HUGE Scams

Life is a tricky thing, as it tends to push people to think about improving their financial situation by looking for additional illegal incomes. That is the reason why thousands of people became victims of stock market scammers. To stop this heinous trend, our team decided to conduct a thorough investigation of the recently resurfaced scam scandals. As with any other criminals, scammers are afraid of public outcry. They dread the attention of a large part of society as it will end their dirty deeds.

This is the story of two people, Martynyuk Andrej Stepanovich and Kravchun Oleg Andreevich, who created numerous scams to deceive gullible citizens in Ukraine.

On the left: Martynyuk Andrej Stepanovich, on the right – Kravchun Oleg Andreevich

Financial Scams in Post-Soviet Countries

After the dissolution of the USSR, the economic state of the former soviet countries declined massively. The 90’s in those countries were full of chaos and financial scams. Now, in the midst of political and social unrest, the same criminal tendencies resurface.

The scheme of stock exchange fraudsters Martynyuk Andrej Stepanovich and Kravchun Oleg Andreevich looks simple at first glance. In fact, it is genius in its own corrupted way.

The first-line employees call to strangers upon the stolen/purchased database to find potential victims. If the victim is unsuspecting enough, scammers manipulate and extract the minimum amount; after that, more experienced employees “handle” the selected victims for more significant amounts. After receiving a deposit, scammers try to get a more considerable amount for various reasons. When the client can’t pay anymore, he or she is dumped.

A lot of scammers also use recruitment in dire times like this to use people in their schemes. Moreover, Martynyuk very actively recruited personnel for his scams – sales managers and even fashion retentions in Kyiv and Kropyvnytskyi. The offices spread all over Ukraine, under different names.  This way, if anything happened to one scam center, the other ones would continue working.

FeshForex Empire – The beginning of never-ending scam-brokers

Martynyuk Andrej Stepanovich and Kravchun Oleg Andreevich began their scam activity with (Fresh Forex Ukraine, EGRPOU – 39098022) quite some time ago. The company was a clone of Intrade, another scam, and the only one that Martynyuk Andrej Stepanovich, due to inexperience, registered on himself.

Based on the data indicated on the website, began its activity in 2004. Also, in 2011, it took 7th place in terms of the number of clients among Forex brokers around the world. But this is a lie; on the network, it is easy to track that the domain formed in 2009. However, it began actively working in 2013. officially ceased operations on Ukraine’s territory on April 26, 2018, which is confirmed by information from the official source of the Unified State Register of Legal Entrepreneurs, Individual Entrepreneurs, and Public Formations.

The website is still active, even though we could not find any official documentation provided by a legit financial regulator authority. Furthermore, most of the licenses were fake.

The scammers created a dozen more sites – scams:

And this list continues receiving updates. Regulators of different countries have issued many warnings for all these scams. Still, the work is in full swing because our fellow citizens’ financial literacy leaves much to be desired.

To successfully conduct suspicious activities, also organized its regulator (or instead, was one of its members) – KROUFR. The Russian “regulator” of this broker – the KROUFR organization – does not exist. SCAM Empire

Scammers created dozens of clone companies:

– MK PARTNER LLC (EGRPOU 38292259) – This is one of the companies through which Martynyuk Andrej Stepanovich launders the proceeds of crime.

– MK CONSULTING GROUP LLC (EGRPOU – 41203200) – It is noteworthy that the company’s founder is Kravchun Oleg Andreevich and also that the main activities of the company are the work of call centers.

– Embiem Ukraine LLC (EGRPOU – 42498805) – Supervised personally by Kravchun Oleg Andreevich.

Teleport Ukraine LLC (EGRPOU – 39850619) – The office entered into fictitious agreements for managing illegal trading accounts with individuals.

PROF ADVICE LLC (EGRPOU – 42585981) – The company itself is under a criminal case and works without problems.

If you were a victim of these scammers, please contact the local authorities. Always be careful and cautious when trading with offshore brokers. You are smarter than scammers, remember that, and make sure to protect your money.