Economic Frauds Inc is a Florida non profit company who scams shareholders of companies to send money to their offshore bank accounts in Cyprus. The officers of this company are Valdemar Forejt, Director and Mitchell Graff, Director. The company operates a website www.economicfrauds.com.
1) Economic Frauds, Inc., a Florida non profit corporation, is holding itself out as a Consumer Advocate and is using a DNS masking service (Softlayer Technologies Inc.) to hide it’s own web host.
* Nowhere on Economic Fraud, Inc.’s website (economicfrauds.com) does Economic Fraud, Inc display it’s registration details to dispense investment advice in or from Florida. There is no license or accreditation from FINRA that is displayed on Economic Fraud, Inc.’s website to permit it to dispense investment advice to shareholders of public or privately held companies in the State of Florida or anywhere else for that matter. We verified this information with the State of Florida's Comptrollers office.
Aside from being an advance fee scam, this company is breaking the law as a non profit having money sent to offshore bank accounts. They are also not licensed with the State of Florida or any other state in America to dispense investment advice. Soliciting shareholders of companies and giving them advice is illegal without a license.
Contact the State of Florida's Comptollers office, FINRA and the S.E.C.
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