Latvian Racket Case – Praxis Cashier allegedly terminated merchant agreement with MisterBit
In the last few days, we have reported several times about the Latvian Racket, which operates broker scams via various companies. For example, UK-registered Finex Group Ltd and ZH Companies Bnk Ltd have come to our attention as operators of the broker scams XFinances (www.xfinances.com and www.exfinances.com) and Zurich Invest (www.zurichinvests.com), respectively. The facilitating payment processors, in these scams the Cypriot Praxis Cashier in conjunction with the licensed Estonian MisterBit. Allegedly, Praxis Cashier terminated its business relationship with MisterBit because of our findings.