Scam

Gennaro Lanza – Fraud, CNMV Warning & Shell Companies

Gennaro Lanza is a forex scammer who runs multiple companies to defraud consumers. His fraudulent enterprises primarily target EU and UK residents. 

Some of his ventures include: 

  • DBInvesting
  • NewFX
  • Dubai FXM
  • Capital Solutions
  • DBFX

All of them are a part of his shady operation through which he makes people sign up for illegal forex trading schemes. 

Running one illegal forex scheme is one thing. But running a vast network of unlicensed, predatory scams is another.

The following review will expose how Gennaro Lanza operates and why you should avoid dealing with him at all costs. 

Gennaro Lanza’s Web of Shell Companies: 

Gennaro Lanza might seem like a nobody to you but he is at the center of a vast network of shell companies.

A shell company is a corporate entity which only exists on paper. They are used by criminals to launder money and perform criminal activities. For example, Mouhammed Bousaleh is a drug kingpin who was recently exposed to have a vast network of shell companies as well. 

Having multiple offshore entities allows criminals to bypass laws and run their illegal enterprise with less difficulty and supervision.

See also  DHL

He controls the network through the boiler room, Capital Solutions (capitalsolutions.mt). 

Although Capital Solutions has a website, it doesn’t share any valuable information. The webpage is full of fluff and the company presents itself as a sales and marketing expert. 

gennaro lanza

According to the company’s website, it is an outsourcing company specializing in the management of customer relations and strategic implementations. The company claims to offer marketing, sales, and call center services. 

As you would expect from a shell company, Capital Solutions doesn’t provide any information on its ownership or management team. I learned about their owner and Gennaro Lanza through the Offshore Leaks database:

gennaro lanza malta

(Source)

Through the boiler room, he controls Dubai FXM, DBFX, NewFX, DBFX Trades and DBInvesting. 

That’s not all. 

He has a vast network of shell companies:

CountryCompany
MaltaCapital Solutions Ltd
SeychellesBig Horizons Ltd, Invest Group Global Ltd, DB Invest Limited
Commonwealth of DominicaBig Horizons Ltd, New Forex Limited
VanuatuDubai FXM Limited, DBInvesting Limited, DBFX Limited

Apart from the firms I mentioned above, Gennaro Lanza runs Dupay LP (UK) and Belight Capital Group Ltd (Cyprus).

See also  Traderia

Belight Capital Group used to have a CIF license which was revoked by CySEC after seeing their illegal activities. The Cyprus Securities and Exchange Commission withdrew the licensed after being disappointed with their compliance with Article 22(1) of their law.

gennaro lanza malta
(Source)

CySEC said that Gennaro Lanza’s firm had performed investment activities for six months before getting a suspension. Also, the watchdog ordered them to return all the funds and financial instruments belonging to its clients including ‘any profits’.

How the Scams of Gennaro Lanza Operate

When people visit the websites of any one of the forex companies Lanza runs, they would get a popup saying that ESMA measures wouldn’t apply here and that it’s the responsibility of the user to find a suitable broker. 

That’s it. 

Recently, some of the websites such as NewFX and DBFX have begun blocking access of EU customers, plenty of them still allow them to access their website. 

All of the forex companies Gennaro Lanza runs have no authorization to offer financial services in Europe. Furthermore, they violate basic FCA and ESMA laws such as allowing clients to make deposits without confirming their identities. 

See also  Apel4X

Even though the forex scams are based offshore, plenty of them use European addresses or phone numbers. 

There used to be two additional members of the scam, Italo Mainofli and Massimiliano Moroni. However, they resigned in 2020 and sold their shares to Invest Group Global Ltd, another offshore entity. 

This company falls under the control of Gennaro Lanza. 

Recently, Gennaro has added a new company to his web, DBX Consultants. Also, he launched Karma Group, a real estate company in Cyprus and released press releases about the same. 

DBInvesting: An Example of How Gennaro Lanza Defrauds Consumers

To understand how dangerous Gennaro Lanza’s entire network is, it would be best to take a more detailed look into one of his forex brokerage firms. 

I have chosen DBInvesting because it is still operational. 

DBInvesting is an offshore broker which claims to provide customers with MetaTrader 4, the most popular trading platform in the industry. However, the company fails to provide MT4. It lies about the platform so it could get people to sign up.

See also  Sigma4Trade

Furthermore, the company’s website mentions several of the shell companies present in Gennaro Lanza’s network such as  DB Invest Limited. 

The company has a Seychelles license but that doesn’t instill much confidence in their reliability because Seychelles is notorious for having poor regulations. Plenty of forex scams have licenses from such weakly regulated places but that doesn’t stop them from scamming others. Some examples include Kowela and MSP Limited.

This Gennaro Lanza firm uses the trading platform of DBFX Trades, which received a CNMV warning for being a scam. 

So, Lanza’s companies have received regulatory actions from different government authorities. 

gennaro lanza malta

Another sign that it’s a scam is the 1:200 leverage it offers. Regulated brokers in the EU cannot offer more than 1:30 leverage so you can understand just how dangerous DBInvesting is. 

Also, the minimum deposit requirement of this broker is $200, much higher than the industry standard of $10. A high minimum deposit is a huge red flag because it’s the sum you are supposed to experiment with. 

See also  Sunpor Group Limited: Avoid the Scammers

Trusted brokers keep their minimum deposit requirement low so their clients get ample opportunity to try out their services without taking a significant financial risk. On the other hand, scammers keep their minimum deposit requirement so they can steal as much as possible from every victim. 

DBInvesting is just one example, Gennaro Lanza has a ton of similar companies and they all operate similarly. 

Conclusion

After going through the above points, it’s obvious that Gennaro Lanza is a dangerous criminal spearheading a large illegal operation. 

You should be extremely wary of him. 

Plenty of forex scammers utilize shell companies for money laundering and defrauding customers. For example, Infinox Capital was able to steal millions from its customers by using its Bahamas-based shell firm. 

Beware of Gennaro Lanza and his scams.

2 Total Score
Fraudster

Gennaro Lanza is a fraudster who runs a web of shell companies all focused on illegal activities including fraud. His companies have faced regulatory action in Cyprus and Spain.

2.5Expert Score
Trust
3
Experience
2
Professionalism
2.5
Ethics
2.4
1.4User's score
Trust
1.4
Experience
1.4
Professionalism
1.4
Ethics
1.6
PROS
  • None
CONS
  • Shell companies
  • Lost CIF license from CySEC
  • Received warning from CNMV
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18 Comments
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  1. I was scammed by this company and wasn’t able to retrieve my money as they didn’t respond. I want to thank the author for exposing this scammer and making everyone aware of Gennaro Lanza.

  2. The cases of forex scams are increasing at the speed of a rocket, my suggestion is that the platforms should be more secure, and also every company should be registered under the norms of the government.

  3. This article must be a heart attack for Gennaro Lanza as this covers every single aspect of the crimes committed by his notorious network. Many of his users wouldn’t be aware of the shady businesses of Gennaro.

  4. It was good to see that the company offers a return of 1:200 which is much higher than any other platform, which attracts many users to invest but the red flag is that the company’s minimum investment starts at $200 which is very high.

  5. 0.6
    Trust
    10
    Experience
    20
    Professionalism
    10
    Ethics
    10

    My brother lost a total of $5000 because of Dubai FXM which made him depressed and heartbroken because this was for the first time he invested in a scam. I don’t think he would ever try another unlicensed broker.

    Helpful(0) Unhelpful(0)You have already voted this
  6. 0.6
    Trust
    10
    Experience
    10
    Professionalism
    10
    Ethics
    20

    It is found that the company was allowing people to deposit their money without revealing their identity, which is completely illegal as it is a clear violation of fundamental KYC rules. This is like stealing money from the government and depositing it in the form of cryptocurrencies which no one can identify.

    Helpful(1) Unhelpful(0)You have already voted this
  7. Avoid the companies which are being operated by Gennaro Lanza as he is a complete package of scams.

  8. I went through the website Capital Solutions. It is filled with untrustworthy promises and also no license has been issued to them to offer financial services.

  9. 0.85
    Trust
    10
    Experience
    20
    Professionalism
    20
    Ethics
    20

    I was one of the people who wanted to get our money back from Belight Capital Group, many of the users thanked CySec for the step and this was a warning to all the platforms that are scamming people sitting out at the corners and defrauding their users.

    + PROS: none
    - CONS: scammer & fraud
    Helpful(0) Unhelpful(0)You have already voted this
  10. Sometimes I feel like the officials know the reality of these scammers but are taking a share of the profits from the company to let it run. Because the owner is running several companies which aren’t regulated and many of their users have posted about the shady business of this company.

    • The usage of shell companies is increasing because of the tightened and strict regulations of the administration. These companies are now taking the help of offshore places to continue their notorious business.

  11. 0.85
    Trust
    20
    Experience
    10
    Professionalism
    20
    Ethics
    20

    The speed with which these scammers are progressing is boosting the confidence of many fraudsters for committing scams, and also no strict actions are being taken against the ones which are caught red-handed for example Gurvin Singh, who was an authorized broker but was scamming people without any fear.

    Helpful(0) Unhelpful(0)You have already voted this
  12. I read many articles related to scams of forex brokers but this one is outrageous, the network of this group would have covered every corner of the world, I’m assuming. But according to the details provided about the scammers it is clear that this company is truly illegitimate.

  13. I completely agree with the author’s point of view about Seychelles as the palace is notorious for practicing forex scams and the company is having a license issued from Seychelles which is not at all reliable to trade with.

  14. 0.6
    Trust
    20
    Experience
    10
    Professionalism
    10
    Ethics
    10

    Why is this man allowed to launch new businesses. One of his companies with the name DBFX has received warnings from the officials for practicing scams and trying to hide their real owner’s identity which is illegal.

    Helpful(0) Unhelpful(0)You have already voted this
    • I want to make clear that when I invested in the company I thought the company was doing business legally but the platform didn’t have any licenses to trade.

    • Here everyone is scared of not submitting the taxes on time and this man is running a network of scams all over the world without any legal registration. How come no one took action against him for running an illegal trade?

    • My friend used to work at a shady call center company and he told me that the company forced them to send fake messages and call the users. I am pretty sure the staff at Gennaro Lanza’s firms were operating similarly. They must be using the data from other companies like Dubai FXM, New FX, etc.

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