TORONTO, Dec. 3, 2013 /CNW/ - The Royal Canadian Mounted Police (RCMP) -
GTA Financial Crime unit has charged the two directors of InvestTechFX
Technologies Incorporated for allegedly defrauding investors out of
millions of dollars.
InvestTechFX Technologies Incorporated (InvestTechFX) is a web-based
foreign exchange trading company. The RCMP's investigation revealed a
fraudulent scheme spanning over three continents and 10 countries,
which has inflicted millions of dollars in losses for victims from
around the world.
The RCMP alleges that between January 1, 2008 and November 25, 2013,
Alan ZER (48 years old) and Rony SPEKTOR (51 years old) operated their
website to draw foreign exchange investors worldwide into opening
trading accounts. Investors deposited funds into the accounts believing
that InvestTechFX was facilitating active trading in the foreign
exchange (forex) market. However, the investigation has revealed that
InvestTechFX did not honour the client trading orders. The funds were
simply transferred into personal accounts of ZER and SPEKTOR.
Investors' attempts to withdraw their funds were denied by InvestTechFX
through allegedly false, misleading and deceitful justifications.
On November 28, 2013, RCMP investigators executed a search warrant at an
office in Toronto where the majority of the victims were enticed to
transfer funds into their InvestTechFX accounts. During the search
warrants, police found and seized evidence consistent with 'boiler
room' activities. Three individuals found working in these premises
were arrested and released on a 'Promise to Appear' at the Toronto West
Courthouse (1000 Finch Ave. West) on January 9, 2014.
Warrants have been issued for the arrest of ZER and SPEKTOR, who are
alleged to be the masterminds of this elaborate scheme. Their
whereabouts remain unknown to police. RCMP laid 'Informations' on ZER
and SPEKTOR at Toronto Old City Hall Courthouse (60 Queen St. West).
For photos of ZER and SPEKTOR as well as images from the InvestTechFX
website please visit the Ontario RCMP Newsroom.
"Today's frauds continue to grow more complex through the use of
technology, which highlights the continued need for awareness and due
diligence", stated Superintendent Dave BELLAMY, the Officer in Charge
of the RCMP GTA Financial Crime units. "We remain committed to
detecting, disrupting and dismantling these types of organizations in
our efforts to maintain investor confidence and protect the integrity
of our economy."
Investors who believe they have been defrauded by InvestTechFX
Technologies Inc. are asked to contact the RCMP GTA Financial Crime
unit at 1-855-253-7267.
The RCMP would like to thank the Ontario Securities Commission (OSC), the United Kingdom's National Crime Agency (NCA), the Hong Kong Special
Administrative Region (SAR) of the People's Republic of China and
numerous agencies in the United States for their assistance in this
SOURCE: Royal Canadian Mounted Police
For further information:
Sgt. Richard Rollings
RCMP Media Relations
"O" Division (Ontario)
Website: RCMP in Ontario