Breaking: Bank of Russia Licensed TeleTrade Facing Police Fraud Charges

[kreslik.news]

Following up on Finance Magnates reports last week that the offices of TeleTrade have been raided by local law enforcement authorities, this morning Russian authorities have confirmed that a major forex brokerage is facing fraud charges.

According to information agency RIA Novosti, the company in question is the Bank of Russia licensed TeleTrade. The move by the local law enforcement happens only a month after the company has been granted a regulatory license for operation as a forex brokerage by the Bank of Russia.

The operation has been coordinated between the Ministry of Internal Affairs and Federal Safety Service. ... (read more)