Belize raises concern over shady foreign exchange company

By Alexis R. Milan
Staff Reporter

Belize has issued another international advisory about a sus-picious foreign exchange company, falsely claiming to be registered in the country.
Several months after Panteon-Finance made it to the “black list” of Russia’s Forex organization, Belize’s financial markets regulator also voiced its concerns over the company.

In a warning dated October 26th, the International Financial Services Commission (IFSC) said that Panteon-Finance Ltd is no longer licensed by Belize to trade in securities or to engage in any other international financial service.
Investors were advised to take note and to exercise caution.

The company, whose website is currently inaccessible, was very active in Eastern Europe and Russia, offering a range of investment plans.
Earlier this year, Russia’s regulator noted the broker’s fake claims, including a non-existent membership in that country’s Council of Federation Committee on Budget and Financial Markets.

Clients of Panteon-Finance have had trouble getting their money back since the end of January 2015, when the company claimed an audit of accounts had to be done and froze access to customer funds.

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