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Petar Borislavov Zlatkov
Petar Borislavov Zlatkov’s orchestration of multiple financial scams highlights the critical need for investor vigilance and robust regulatory measures.
Quick summary on Petar Borislavov Zlatkov
Petar Borislavov Zlatkov, a Bulgarian national, has been implicated in orchestrating multiple fraudulent financial schemes across Europe, leading to significant financial losses for unsuspecting investors.
Involvement in ProuFX and UProFX Scams: Zlatkov served as the director of Estonian company Yield Enterprise Currency Software OÜ, which operated the fraudulent trading platforms ProuFX and its predecessor, UProFX. These platforms lured investors with promises of high returns, only to defraud them of their funds. In response, the German financial regulator BaFin issued a Cease and Desist Order on June 8, 2020, mandating the cessation of ProuFX’s operations.
Operation of Libra Markets: Under Zlatkov’s direction, Yield Enterprise Currency Software OÜ also managed Libra Markets, another deceptive trading platform. BaFin had previously issued a warning against this entity in December 2019, highlighting its involvement in fraudulent activities targeting European investors.
Connection to KayaFX Fraud: Zlatkov was the director of GammaTech Services OÜ, the company behind the significant binary options scam, KayaFX. This scheme, primarily orchestrated by Israeli national Avi Itzkovich, defrauded numerous small investors across the European Union. The operation was supported by illicit call centers in Bulgaria, operated through Mercure Group EOOD (formerly RAX Media EOOD).
Regulatory Actions and Legal Proceedings: The fraudulent activities associated with Zlatkov have prompted multiple regulatory actions, including BaFin’s interventions. These actions underscore the ongoing efforts by European authorities to combat financial fraud and hold perpetrators accountable.
Public Perception and Investor Awareness: The exposure of Zlatkov’s schemes has heightened public awareness regarding the prevalence of financial frauds. Potential investors are increasingly urged to exercise due diligence and verify the legitimacy of financial platforms before engagement.
Petar Borislavov Zlatkov’s involvement in various fraudulent financial operations has led to substantial financial harm to investors and has attracted significant regulatory scrutiny. This case serves as a cautionary tale about the importance of vigilance and regulatory oversight in the financial sector.
Intel Reports
by: Kyler Myers
I was nearly tricked into investing with Libra Markets until I did my research and found out about Zlatkov’s long history of financial fraud. This man operates fake trading platforms designed to rob innocent investors. Regulators like BaFin have issued...
by: Nash Perry
He belongs behind bars not running financial schemes that steal from innocent investors
by: Lilliana James
I was one of the unfortunate victims of ProuFX and learning that Petar Borislavov Zlatkov was behind it makes me sick These scammers promised high returns manipulated trades, and then refused withdrawals. Losing my savings was devastating, and knowing this...
by: Evangeline Cook
Zlatkov has left a trail of financial ruin across Europe avoid anything linked to him
by: Sabrina Henderson
Zlatkov’s fraudulent companies aren’t just about losing money they are part of a wider criminal network. His scams were supported by illegal call centers in Bulgaria, preying on people desperate to improve their finances. The fact that authorities keep shutting...