eMarketstrade And Zuerchercapital—Another Investor Nightmare Fashioned By Ilan Tzorya

As the crypto world gains more and more popularity, so is the snowballing of the world’s major online scams. From gambling to binary options trade, victims lose millions and millions in almost every scam that bursts into the full glare. Although the victims of any online fraud can effortlessly recall the amount lost in a flawed online trading platform, it’s always pretty unlikely for them to know exactly who’s behind their misfortune, pain, and anguish. And, of course, whom to hold responsible as most of these fraudulent websites lack critical licenses, proof of compliance, and legitimate address.

Basically, online financial investments scammers operated in a complex and well-coordinated circuit of fraudsters running a complex global network of fraud platforms with a few masterminds at the top of the pyramid. And in case of a deal-gone-wrong scenario, the junior associates on the outer business ring shoulder the blame on behalf of the behind-the-scenes masters who rarely get public coverage over their mischief.

Ilan Tzorya is a perfect example of a well-experienced fraudster, accredited for developing and patenting Tradologic software, systems, and tools. He’s also a prime owner of a countless number of fraud crypto websites—both active and inactive that have sunk thousands deep down the poverty limit after all their investments are siphoned into the scammer’s associated banks accounts.

In this masterpiece, we’ll delve deep into eMarketsTrade and ZuercherCapital: what happened, famous criminals behind them, their fraud strategy, and their new plans in recent times.

eMarketsTrade and ZuercherCapital Scam

eMarketsTrade and ZuercherCapital became buzzwords in 2017 and 2018 after thousands of users flooded social media platforms expressing their dissatisfaction and suspicion that the company was up to nothing but defrauding their innocent clients. The ill-fashioned brands defrauded their customers under the guise of being legitimate online brokers by faking licensation and using well-organized call centres. They promised their customers quick financial gains, with virtually none getting anything back despite investing hundreds to thousands of euros in their fake accountants. Below is screenshot evidence.

Note: The above screenshots have been edited to remove or blind victims personal identification details.

According to our in-depth research, the Limassol-based eMarketsTrade is blacklisted in Cyprus and operated illegally, despite fooling customers on their website by posting the brand is registered by the Cyprus Securities and Exchange Commission (CySEC). Our search further showed no such entity registered by CYSEC. Unregulated financial investment platforms make a legal recourse challenging if the platform scams you. As such, the fraudsters keep their business unregulated or certified by an offshore agency that is effective in their present area of operations.

Similarly, eMarketsTrade sister brand ZuercherCapital had no headquarters in a specific location and lacked a valid license.  The company boasted a global coverage by positioning its offices in the leading locations such as Israel, Bulgaria, Macedonia, Serbia a Ukraine, Romania, London, Germany, Spain, and France. While the website poses to be regulated by the Financial Conduct Authority, our search found no such name on the regulator’s register, making the website an outright fraud funnel. The website becomes more difficult to trace back to its owners with no exact office location, no valid license, no official registered name, and has no valid physical address.

ZuercherCapital and eMarketsTrade have been reported on various scam tracking websites by hundreds to thousands of users for scamming them of their money using orthodox tactics. In 2017, Zuercher was blacklisted by Austria and barred from operating in the country. Additionally, Austria’s FMA also issued a warning about the website stating it was not permitted to carry out banking transactions that required a license.

Serial Criminals Behind eMarketsTrade and ZuercherCapital

ZuercherCapital and eMarketsTrade are managed by two notorious international fraudsters, Ilan Tzorya and Yuval Shem-Tov, together with their close confidants. The two scummy brands are part of a massive online criminal funnel that has led to more than 200 million euros stolen from the victims of the flawed fake trading sites. And it’s no wonder that Ilan Tzorya, also known as the father of binary option fraud, had his lion’s share in the massive online loot, owning a 50% stake in the illegal business.

Tzorya is perfect at running fraudulent online financial markets behind the scenes by owning a significant stake in the business, as was the case for Gal Barak and Uwe Lenhoff. He was a 50% owner of Barak’s GMP BVI and took over Lenhoff’s brands after fixing him with the police for arrests over fabricated claims. But, he doesn’t just stop there; he does it with other businesses too.

Unknown to many, Tzorya and Shem-Tov secretly run the two brands behind the scenes, stealing millions of people’s money invested on the illegal platforms and shutting down the brands, leaving the victims helpless, with no profits at all. Even worse, the customers didn’t have any legitimate and straightforward means of getting in touch with the business owners to get their money recovered after an abrupt websites shutdown.

However, this dirty strategy is no surprise to those who have known how Tzorya coordinates his online exploits. He has used the strategy to further multiple online frauds that have always left thousands counting colossal losses after false initial promises of huge profits turn into a sinkhole for their hard-earned money.

Tzorya and Shem-Tov have been mentioned in the Austrian white-collar crime investigations, in which Tzorya is already indicted, pending a court case. Yuval Shem-Tov was also named the owner of the two fraudulent websites when Michael Golod was asked about the owner of the websites. With Tzorya’s indictment, the end to his criminal ventures is quickly approaching. However, it wouldn’t be pretty obvious due to his experience in distorting evidence and obstruction of justice.

The online financial fraudsters led by Tzorya and Shem-Tov comprised a large team of employees and close confidants operating more than 600 call centres. The group lured many into a false ‘quick money’ perception, giving them false confidence to invest heavily on the platform.  As soon as an investor invests maximum amount and accumulates maximum bonuses, the scammers would block access to the account before transferring the customer’s money into their accounts.

If these two scammers’ platforms scammed you, your friend, or family member(s), please file a complaint with the police, and let’s hold the criminals accountable for their mischief.

Read part 2 of this article for more details on the criminals’ method, their new operations, and why EFRI isn’t doing anything to help the victims of such fraud.