Alert whistleblowers notified us today of Jacques Alain Bazille’s effort to flee from UPC Consulting Ltd., an illicit payment services provider. To our community of whistleblowers, many thanks. In the best interests of the harmed parties, this reckless attempt by one of the numerous illicit payment service providers from the days of binary options and broker frauds must be tolerated.

Alain Bazille, one of the founders and beneficial proprietors of UPC Consulting Ltd. and Moorwand Ltd., both of which have FCA licences, has asked for the latter company to be dissolved. Numerous broker scams have utilised UPC Consulting Ltd as an unlicensed payment service provider for bank transfers.

Numerous bank accounts owned by UPC Consulting Ltd have been used by client-victims of broker scams to make deposits. FinTelegram’s records show that refunds to client-victims have occasionally also been given through UPC Consulting with fictitious payment references. Moorwand ran the online payment system UPayCard (www.upaycard.com) until a few months ago. FinTelegram states that PAP Onpoint Services Ltd, a Cyprus-registered firm, obtained ownership of the payment platform. So, it is reasonable to anticipate that UPC Consulting Ltd will face numerous unanswered questions and unresolved claims.

UPC Consulting’s Application Won’t Work

We believe that no dissolution is currently conceivable in accordance with the Companies House Act of 2006 due to the activities and continued engagement in broker frauds. It is likely that a large number of customers who fell victim to the broker scams would continue to pursue legal action against UPC Consulting Ltd.

Furthermore, UPC Consulting and Moorwand Ltd personnel have been implicated in the money laundering case involving Københavns Andelskasse (KBH Andelskasse). Therefore, questions will also be raised by the investigative authorities. Investigating authorities and defrauded retail investors (consumers) should, therefore, strongly protest the unsupervised cleansing of the crime scene by “UPC Consulting Ltd.” It’s clear that Bazille and his cronies wish to hide their identities.

The EFRI Initiative

Accordingly, EFRI will object to the dissolution or deletion of Companies House as an interested party on behalf of the numerous defrauded investors in accordance with the guidelines set forth for this purpose by the Companies House Act 2006 as part of the EFRI Campaign for the recovery of funds for investors who have been duped by various broker scams.