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:
- Dubai FXM
- Capital Solutions
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.
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.
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:
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:
|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|
Apart from the firms I mentioned above, Gennaro Lanza runs Dupay LP (UK) and Belight Capital Group Ltd (Cyprus).
Belight Capital Group used to have a CIF license which was revoked by CySEC after seeing their illegal activities.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.
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.
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.
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.
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.
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.
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.
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.
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.
- Shell companies
- Lost CIF license from CySEC
- Received warning from CNMV