Gennaro Lanza is a forex scammer who runs multiple companies to steal money from people. Most of the people he scams are from the EU and the UK.
Some of his shell companies are:
- Dubai FXM
- Capital Solutions
All of them are part of his shady operation, through which he gets people to sign up for illegal fx trading schemes.
It’s one thing to run one illegal forex business. But it is something else to run a huge network of scams without a license.
This review will show you how Gennaro Lanza does business and why you should never do business with him.
The Web of Shell Companies by Gennaro Lanza:
You might not know who Gennaro Lanza is, but he is at the center of a huge web of fake companies.
A “shell company” is a business that doesn’t exist. Criminals use them to wash their money and do other illegal things. For example, drug boss Mouhammed Bousaleh was recently found to have a huge network of shell companies.
With multiple offshore companies, criminals can get around the law and run their illegal businesses with less trouble and less control.
Through the boiler room, Capital Solutions (capitalsolutions.mt), he is in charge of the network.
Capital Solutions has a website, but it doesn’t tell you anything useful. The company’s website is full of useless information, but it presents itself as an expert in sales and marketing.
The business’s website says that it is an outsourcing company that specializes in managing customer relations and putting together strategic plans. The company says that it can help with marketing, sales, and call centers.
As you might expect from a dummy company, Capital Solutions doesn’t tell you who owns it or who runs it. A source told me about their owner and Gennaro Lanza:
He runs Dubai FXM, DBFX, NewFX, DBFX Trades, and DBInvesting through the boiler room.
Not only that.
He has a huge number of companies that are just fronts:
|Malta||Capital Solutions Ltd|
|Seychelles||Big Horizons Ltd, Invest Group Global Ltd, DB Invest Limited|
|Commonwealth of Dominica||Big Horizons Ltd, New Forex Limited|
|Vanuatu||Dubai FXM Limited, DBInvesting Limited, DBFX Limited|
Gennaro Lanza also runs the companies I listed above, plus Dupay LP (UK) and Belight Capital Group Ltd (Cyprus).
Belight Capital Group used to have a CIF license, but CySEC took it away because they were doing things that were against the law. The license was taken away because the Cyprus Securities and Exchange Commission wasn’t happy with how they were following Article 22(1) of their law.
CySEC said that Gennaro Lanza’s company had been making investments for six months before it was shut down. Also, the watchdog told them to give back all of its clients’ money and financial tools, including “any profits.”
Gennaro Lanza’s Scams and how they work
When people went to the websites of any of Lanza’s forex companies, a popup would tell them that ESMA rules wouldn’t apply and that it was the user’s job to find a good trader.
Some websites, like NewFX and DBFX, have recently started blocking EU customers from accessing their sites. However, a lot of websites still let EU customers access their sites.
All of the foreign exchange companies that Gennaro Lanza runs are not allowed to do business in Europe. Also, they break basic FCA and ESMA rules by letting customers make deposits without making sure who they are. Even though most forex scams are run from outside of Europe, many of them use European phone numbers or addresses.
Italo Mainofli and Massimiliano Moroni were also part of the scam at one point. But in 2020, they quit and sold their shares to Invest Group Global Ltd, which is also a foreign company. Gennaro Lanza is in charge of running this business.
Gennaro recently added DBX Consultants, a new business, to his website. He also started a real estate company in Cyprus called Karma Group and sent out news releases about it.
DBInvesting: A Good Example of How Gennaro Lanza Scams People
Look more closely at one of Gennaro Lanza’s forex trading firms to get a sense of how dangerous his whole network is. I picked DBInvesting because it’s still in business.
DBInvesting is an offshore broker that says it offers MetaTrader 4, the most popular trading tool in the industry, to its customers. The company doesn’t offer MT4, though. It tells lies about the platform so that people will join.
Also, the company’s website talks about DB Invest Limited and other fake companies that are part of Gennaro Lanza’s network.
The company has a license from Seychelles, but that doesn’t say much about how reliable they are because Seychelles is known for having bad rules. There are a lot of forex scams that get their licenses from places with weak regulations, but that doesn’t stop them from ripping people off. Kowela and MSP Limited are two examples.
This company run by Gennaro Lanza uses the trading site of DBFX Trades, which the CNMV warned was a scam. So, different government agencies have taken steps to regulate Lanza’s businesses.
The 1:200 leverage is another sign that it is a scam. Brokers that are regulated in the EU can’t give more than a 1:30 leverage, so you can see how risky DBInvesting is.
Also, this broker needs a deposit of at least $200, which is much more than the industry average of $10. A high minimum deposit is a big warning sign because that’s the amount you’re meant to play with.
Trusted agents keep their minimum deposits low so that their clients can try out their services without taking on a lot of financial risks. On the other hand, scammers keep their minimum deposit requirements so they can steal as much as possible from each target.
DBInvesting is just one example. Gennaro Lanza has a lot of other companies that are like DBInvesting, and they all work the same way.
After reading the above, it’s clear that Gennaro Lanza is a dangerous criminal who is in charge of a big illegal operation. You need to be very careful around him.
A lot of people who try to scam people in the forex market use shell companies to move money and scam customers. For instance, Infinox Capital was able to steal millions from its clients by using a dummy company in the Bahamas.
Don’t fall for any of Gennaro Lanza’s tricks.
You May Also Like To Read:
Is PLC Ultima the Future of Blockchain or a Scam?
GLP Financial Group: A Review of Mismanagement, Lawsuits, and Complaints in 2023