Pointless 404 investigation – German BaFin launches probe into vanished Finexics
FinTelegram has issued several warnings against the Finexics broker scam. Likewise, some regulators such as the Austrian FMA have issued investor warnings. The scam was operated through Slinqo Group Ltd, allegedly registered in Cyprus. As predicted, the scam has since disappeared. Nevertheless, the BaFin has announced investigations against the scam and its operators. BaFin will probably not find anything to find the scammers, and investors cannot be protected now either. It's more a sort of forensic investigation, which is the job of law enforcement.