A lawsuit against trading platform ROFX continues at the Florida Southern District Court, with the victims building the evidentiary support in the case against the scam.
The list of defendants includes: ROFX.net, Auro Advantages LLC, Aware Choice Ltd., Boonruk Ruamkit Co., Ltd., Brass Marker s.r.o., Easy Com LC, Epayments Systems Ltd., Ester Holdings Inc., Global E-Advantages LLC, Grovee, LLC, Igoria Trade S.A., IT Outsourcing Co., Ltd., Notus LLC, Shopostar, LLC, VDD-Trading, Ltd., Wealthy Developments LP, Andrei Fetin, Anna Shymko, Anton Bilous, Borys Konovalenko, Dmytro Fokin, Jorge Luis Castillo, Manuchar Daraselia, Mikhail Rymanov, Natalia Los, Nattpemol Krinara, PapahraTsor Nrviratporn, Peter Mogilniy, Youras Ziankovich and John Does 1-30.
According to the Complaint, the defendants orchestrated a massive international scheme to defraud the investors by soliciting them to deposit money or cash equivalents with ROFX, a “robotically operated foreign exchange trading” platform that purportedly utilized algorithms to trade on behalf of investors. In exchange for the funds, the defendants falsely promised a return on investment in the form of a percentage of ROFX’s daily trading profit that never came to pass.
After maximizing their current account balances and creating the illusion of stability for in excess of two years, ROFX distributed little profit to its investors, prevented investors from making withdrawals, and thereafter stole all remaining investment capital to perpetuate a massive fraud that is global in scope.
On November 19, 2021, the plaintiffs – dozens of victims of the fraudulent scheme, filed documents that offer additional evidence in support of their Emergency Ex Parte Motion for Temporary Injunction.
The documents concern transactions among the entities involved in the scam. One of these entities is Notus LLC, a dissolved Colorado foreign limited liability corporation. Notus LLC is an entity into which ROFX investor funds were deposited. Borys Konovalenko was the head of Notus.
In the documents submitted at the Court, ROFX victims explain that they served subpoenas on several non-party banks and cryptocurrency exchanges seeking Know Your Customer (KYC) information and financial transaction data associated with the defendants.
In response, Bank of America and Deutsche Bank produced transaction information showing they acted as intermediary banks between Notus LLC and Borys Konovalenko. Additionally, cryptocurrency exchange Bitstamp produced a consulting agreement between Notus LLC and Borys Konovalenko.
From 2019 to 2020, one or more accounts in the name of Notus sent $561,640, via numerous transactions, to three accounts in the name of Konovalenko. The three accounts are at two different banks: one in Ukraine and one in Slovenia. Bank of America served as the intermediary bank for these transactions.
In 2020, one or more accounts in the name of Notus sent $59,436, via twelve transactions, to an account in the name of Konovalenko. This account was held at a third bank, also in Ukraine. Deutsche Bank served as the intermediary bank for these transactions.
In total, from 2019 to 2020, these documents show Notus sending Konovalenko $621,076 to four different accounts at three different banks in two different countries.
Apparently as part of Bitstamp’s KYC requirements, Konovalenko provided Bitstamp an executed contract between Konovalenko and Notus for vague consulting services “connected with e-commerce.” The consulting agreement’s effective date was January 3, 2019 terminating on January 3, 2022. In return for Konovalenko’s consulting services, Notus agreed to pay a “one time prepayment fee” of $372,300 upon execution of the Agreement.
The plaintiffs claim that the victims’ reported ROFX account balances are in excess of $15 million and growing.