It’s about time someone put a stop to this notorious HYIP forex scam called Finanzas Forex, one that was very very popular in South America and other Spanish speaking countries.
Spanish National Police have arrested German Cardona Soler in a case that alleges a spectacular Ponzi and fraud scheme involving more than $300 million. Two others also were arrested, and police “locked” 12 bank accounts. Although early details are unclear, it appears as though police have charged at least seven people in the alleged international caper.
Cardona Soler, also known simply as German Cardona, is referenced in U.S. court documents in the EMG/Finanzas Forex case. Federal prosecutors traced money seized in the case to the narcotics trade, according to U.S. court filings. The scheme was promoted on TalkGold, MoneyMakerGroup and other Ponzi and criminals’ forums.
The HYIP scheme allegedly was associated with an entity known as Evolution Market Group (EMG), which purportedly had a Forex component known as FinanzasForex. Investigators alleged in JanuaryÃÂ that there were schemes within schemes in a tangled web of domestic and international deception that featured dozens of bank accounts, shell companies and various fronts for money-laundering enterprises, including companies purportedly in businesses such as real estate and car washes.