Cento GX - FCA warns investors about company clone

17.02.2022
The supposed online broker Cento GX sells itself as a trustworthy platform for automated online trading with cryptocurrencies. However, evidence is mounting that there are significant shortcomings at Cento GX. Reports from traders about Cento GX are accumulating, talking about telephone terror, rip-offs and investment fraud. Investors have lost all their capital invested with Cento GX. Doubts are being raised. Meanwhile, many Cento GX investors feel that it is an investment scam. All Cento GX investors are wondering if they have fallen victim to an investment scam? And what can Cento GX investors do if the suspicion of investment fraud is substantiated? Will Cento GX investors get their money back? Does it make sense to file a criminal complaint against Cento GX with the police? Where can I get help with investment fraud?

Cento GX: Unbelievable assurances on centogx.com!
What are the dumbfounded visitors to Cento GX's website being served up? "Cento GX was developed by traders for traders. And with traders like you in mind, we understand that our platforms need to fit your busy lifestyle. That's why we've created our state-of-the-art technical infrastructure for trading and investing that will provide you with the most up-to-date trading information, knowledge and tools anytime, from anywhere. Whether you're using our desktop platform on your Mac or PC, or trading from your mobile device, Cento GX is always at your fingertips." That's just a small sample of the over-the-top promises that the curious can find on Cento GX's website. Not one of these given promises by Cento GX has been kept. Sadly, the dubious business practices rather make for disappointed investors and miserable experiences!

Cento GX: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Cento GX makers is that the website does not contain an imprint. Thus, the complete details of the legally responsible operators of the website are missing. If one takes a look at the domain data of the Cento GX website, there are no references to the operators. However, one learns that the domain was only registered on 29.03.2021 with NameCheap, Inc. The real domain owners are hiding behind the anonymisation service Withheld for Privacy ehf.

Cento GX: Who is behind it?
Answering this question will be rather difficult for many investors, as the Cento GX makers do everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators usually operate several of these websites with the same fraudulent business model. These are created in advance, quickly put on the net and just as quickly shut down. The top-level domain is often changed to deceive the financial supervisory and law enforcement authorities. But who is the operator? On the Cento GX website, there is only scant information about this. Although the company Cento GX with the business address 330 High Holborn Holborn Gate, London WC1V 7QT, United Kingdom is given, the makers of Cento GX cannot be found under this address. In addition, there is the obligatory support e-mail address and the telephone number +4420 302 67 043. A worldwide search for Cento GX in the relevant registers leads to no result. This makes it clear that this is a pure fantasy product.

Cento GX: The customer acquisition of the investment fraudsters
The same procedure can be found here again and again: In order to attract new customers, the recommendations of Cento GX are advertised in all possible media and channels. Not infrequently, the offers are false claims. In addition, they upload films on Youtube or Vimeo in which interested investors are convinced with fictitious references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". With the same intention, an affiliate programme is usually started to give others incentive to beat the advertising drum for Cento GX.

Cento GX: Criminal business practices
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Investors usually start with a small amount of money. Beforehand, investors are often motivated to install remote maintenance software, such as AnyDesk or TeamViewer, on their computers so that they can supposedly receive help with the first steps. In many cases, the computer is manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?

Cento GX: Repayment of money is subject to conditions
Once in, it is usually impossible to get out. Instead, the administrators of the investment scams tie the repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, the alleged profits are paid out. The perpetrators send investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. It is never possible to offset them against the alleged profits. If an investor refuses to make further deposits, supposed profits are turned into losses through senseless transactions and the client is damaged to the maximum. The horror does not end there, but investors are permanently confronted with calls from other dubious providers. This indicates that the investors' contact details are traded on among the investment fraudsters. In the end, a "saviour" regularly calls claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course the "saviour" also wants a small fee - in advance!

Cento GX: Scheme of investment fraud?
There is no legitimisation of the Cento GX trading platform. Cento GX lacks the regulation of a recognised European supervisory authority, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. Instead, there is a warning from the Comisión Nacional del Mercado de Valores (CNMV). This is the Spanish supervisory authority for the financial market and financial services. It is not difficult to see that Cento GX is a scheme of capital investment fraud. All victims of Cento GX are advised to consult an investment fraud lawyer as soon as possible.

Cento GX: Where are the fraudsters active?
Unfortunately, the illegal activities of Cento GX are not limited to the English-speaking world. Because Cento GX also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. A look at the list of regulators is advisable before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.

Cento GX: Investors want their money back!
Fortunately, the constellation is more promising than it appears. The aggrieved investors can take countermeasures and demand their invested capital back. As of today, it is not likely that the Cento GX investment fraudsters will be caught in the near future, but there is still reason for hope. Above all, because the money transactions were carried out via accounts provided by financial institutions striving to maintain a good reputation. These demonstrably failed to check the investors' deposits, some of which were high and therefore subject to controls, and their onward transmission for legality. Such omissions made the investment fraud possible in the first place.

Cento GX: You want your money back! How does it work?
Equipped with this knowledge, no investor would have got involved in business with Cento GX. Now the only alternative left to them is to seek compensation for the loss. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where one starts with good chances of success. To this end, essential questions must be clarified. To what destination were the funds moved by Cento GX? Is there a possibility that the victims of the investment fraud will get back the money they invested with Cento GX? What action is required from now on? A lawyer specialising in investment fraud is best placed to answer such questions.

Cento GX: Who can help?
What to do in case of investment fraud? What help can victims of Cento GX hope for in the case of investment fraud? Victims of Cento GX will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your Cento GX case both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading also comes into question, because he is also familiar with the methods of fraudulent brokers such as Cento GX.

Cento GX: Follow the money!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating such abuses on the non-regulated capital market for more than three decades. The Cento GX way is therefore nothing new. Over the years, Resch Rechtsanwälte have developed powerful and strong tools for tracking down misappropriated investments and tracing the flow of money. Making funds actually disappear has become almost impossible in the age of the Internet The faster those affected follow the money trail, the greater the chances that they will see their invested capital again. Above all, it is important that investors harmed by Cento GX act immediately.

RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of Cento GX and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.