Recovery from Fraudulent Brokers

Italian client recovers 45,000 Canadian dollars from fraudulent broker in Cyprus

An Italian client contacted ReclaimFunds after losing 45,000 Canadian dollars investing with an online trading broker that promised exceptional returns. The broker operated from Cyprus and presented itself as a regulated company.

The Situation

The client had invested his savings in a broker that promised 200% annual returns through forex and CFD trading. After several months of apparent gains, the broker stopped responding and blocked access to the account.

Our Strategy

Our team analyzed the documentation and identified that the broker was operating illegally from Cyprus. We used international legal procedures to pursue the company and recover the funds.

The Result

After 4 months of intensive work, we recovered the entire amount of 45,000 Canadian dollars. The case required collaboration with Cypriot authorities and the use of international legal procedures.