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- Billionaire Josh Cartu, a businessman living in Budapest, who once crashed into one of the most expensive cars in the world in the Hungarian capital, became known for his poisonous collection of luxury cars and his lavish lifestyle. .
- He and his brothers, according to the latest news, obtained their wealth by establishing various companies and harming investors, which led to market surveillance procedures against them in Canada.
- Although Canadian oversight has found an Israeli backup company, the tentacles of the Cartu Empire arrive at a call center in Budapest, where dumb investors were also regularly recruited.
- A total of C $ 233 million could be collected in a method that had been banned in Israel for three years, while the Magyar Nemzeti Bank tightened it in April this year.
“We worked like a bastard, two hundred outgoing calls per day was the minimum expectation. Once during the day, the little local boss, Csaba, said it was fine, now everyone should end the call because there is something to report. Then when the Sala was silent, called Jonathan Cartu, who, like a fool, after the start, said briefly in English: We have to let you go, Csaba will tell you the details, Merry Christmas anyway! “This is how P., who worked with himself at the headquarters of the Cartu Empire in Budapest, recalled the launch of Index in late December 2016.
It is the business of three Israeli Canadian brothers, Jonathan, Joshua and David Cartu, of the Cartu Empire, and the Hungarians may be familiar with the name of Josh Cartu, who lives in Budapest. With its luxurious lifestyle, luxury cars, kwith presence in social networks It appeared in the Hungarian press several times. In 2014, one of the 444 readers photographed the then 35-year-old businessman in the Tunnel who wrecked a $ 40 million sports car, a Bac Mono.
The fact that someone drove a car in Budapest with such a car was a sensation, because while it is far from the most expensive car in the world, it is a real rarity, and it is also one of the fastest vehicles. 444 later he also wrote a small portrait of Josh Cartur, whom he described as a car racer, businessman, techmogul, artist of life.
It’s a great opportunity, and nothing shows that better than that revolves around the best in the world. Also, it works especially well for him. Take a look at his Instagram or articles and galleries about him, he has recently photographed with Felipe Massa, Fernando Alonso, Bernie Ecclestone, Jeremy Clarkson, Jean-Claude Van Damme, Nir Barkat, the Mayor of Jerusalem, Luca di Montezemolo, Ferrari with his President resigned; photographed on the set of Hercules, with any luxury car, any private plane, a private yacht, any playmate with bunny ears
– He wrote about his Canadians, which is approx. A 90 million forint Ferrari F-12 Berlinetta, a sixty million Ferrari 458 Spider, a 95 million Rolls Royce Phantom, a Lamborghini, a Mercedes and who else knows who owns the car. From what was publicly available data at the time, all that was known of what he got his money from was perhaps an online gambling business.
Last year, RTL Klub also shot with him, when Josh Cartu showed his television crew how luxurious he lives in Budapest, but there is also a video presentation of his apartment on another video sharing site.
Now, however, it seems that the call center mentioned at the beginning of the article was not right, and this may provide a clue on how to acquire wealth.
Call4all Ltd. carried out two interrelated activities: online casino trading and so-called binary options trading. The first does not require any special explanation, but the second must be explained.
The seedbed of scratches
Binary trading is quite popular with online scammers, it is no coincidence that Magyar Nemzeti Bank, just last month, has brought it within strict limits, but there are states where this is practically prohibited. The term binary trading is only misleading because the (digital) binary option has almost nothing to do with the traditional options market. The point is that the client must bet if the price of a financial instrument (such as the euro / dollar) will be higher or lower after a certain period of time.
But while real investment products have a chance that the customer can make money from it, digital option offerings have very little chance of doing so. These systems, like the operating principle of casinos and slot machines, have been developed in such a way that the service provider does it well, the customer fails sooner or later.
And then we didn’t even talk about it if someone specifically wanted to cheat. Trading platforms are often manipulated by the service provider in such a way that the client ultimately fails. Or it may happen that even if an investor wins a deal, the service provider will not credit it to your account or make payment more difficult.
It happens that a fraudulent company linked to the same circle of “business” approaches an investor who does not give him money in this way and offers to recover the profit for some money, but in the end the client also loses that amount. So there are a few million methods out there, and as with most of these scams, service providers (i.e. system operators) often create multiple companies with different names and therefore connect a customer which has already been removed with one of its companies.
This scheme also worked for the Cartu brothers.
The binaries called everyone who screwed up a lot of money at the online casino, who traded with constantly changing websites, exchanging them monthly.
A former employee who had online casino clients told the index. Phones have spread around the world, both in Australia and South Africa. “It could have been horrible money, because the point was that if you called someone like a casino and put in a minimum of $ 25, the specific caller got it individually as a commission. If someone casually won, they never saw their money, Of course”. explained the former employee.
The online casino “business” was discontinued in December 2016, the binary branch remained, but in the spring of 2017 everyone was fired from there as well. We spoke to a former employee who worked on the casino line, and after everyone was fired from there, he was offered to go to the “binaries”. “Four or five people were brought into the binary and they also offered it to me. I listened to the conversations on the phone in my ear for two days, it was called training, and then I said I didn’t want to get involved in a crime.”
Photo: vimeo
It was known as a pseudonym by Canadian investors
It is not yet known what the man got rich from, but it is true that the Canadian authorities have initiated proceedings against him and his brothers in connection with their binary trading. According to a document released on May 4 by the competent financial supervisory authority in Ontario, Canada, the Cartu brothers’ companies attracted 700 Canadian investors to binary trading between July 2013 and April 2017, and approximately $ 1.4 million (certainly Canadians) of these agreements. have acquired
According to the document, the Cartuzes did not register their commercial company with the competent Canadian authority.
This means that the transactions were made illegally.
Authorities also mention two websites backed by Cartu and that their websites were misleading about their contact details. Therefore, Canadian investors were also unaware that financial operations were carried out in Israeli call centers through a company called Tracy PAI Management Limited.
The Canadian authority does not mention that a Hungarian company also operated a call center, because the Hungarian call centers did not call Canadians.
Call4all kft., Operating in Budapest. It was established in 2015 and ended last spring with clearance. We contacted the former CEO of the company, N. Cs., Who was told that the Canadian authority had initiated a case against Cartuek for a business practice that the Budapest company also appears to have followed. “Don’t be mad, but I can’t help it,” the former executive replied when asked if we could talk to him about this business model.
Incidentally, Canadian investors were also misled by the use of Cartu pseudonyms, Jonathan Cartu, for example, was known to customers as “Jon Cartier” because he was presented in that way. Their websites offered 60-85 percent return to their investors.
Two companies were behind card payments from the two Cartuch-related websites identified by Canadians. UKTVM was registered in the UK and was marketed by Beeoptions until the end of 2014. A company called Greymountain was registered in Ireland, and until mid-2014 payments were made through it even in 2017, but these companies nominally had nothing. to do with the Cartuzes. The money then passed from UKTVM and Greymountain to companies whose accounts were directly accessed by the Cartuys, so they were located at the end of the system.
According to Canadian documents, UKTVM and Greymountain received a total of $ 233 million from investors regarding binary options trading alone.
CAD 233 million is about 53 billion forint. The surveillance process against the Cartu brothers was also reported in the Times of Israel. According to the article, the Canadian supervisory procedure can end with a maximum fine and disqualification. Imprisonment, on the other hand, would only threaten Cartuze’s imprisonment if they were also prosecuted.
Incidentally, binary options trading was banned in Israel in October 2017, preceded by hundreds of Israeli companies, depriving billions of naive investors around the world. The method is always the same: companies appear, touch investors, and then, when they have had enough money in their pockets, they are absorbed. In March 2016, the Times of Israel published a revealing article on these transactions, “Wolves of Tel Aviv,” which later led to a ban on such exchanges in Israel.
(Cover image: Josh Cartu a Edinburgh In front of the Rutland Hotel At the Gumball race on July 6, 2014 . Photo: Andrew Milligan (PA Images / Getty Images)
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