Empire Swiss

A summary of what happened?

Empire Swiss is an online brokerage firm that offers trading services across various financial instruments, including forex, commodities, indices, and cryptocurrencies. Despite its claims of providing a reliable and efficient trading platform, Empire Swiss has been the subject of numerous concerns and complaints regarding its legitimacy and business practices.

Regulatory Status and Transparency

• Lack of Regulation: Empire Swiss does not provide verifiable proof of regulation by any recognized financial authority. The company fails to disclose its physical location or registered address, leading to concerns about its legitimacy and accountability.
  The Forex Review
• Offshore Registration: Investigations reveal that Empire Swiss is based in St. Vincent and the Grenadines, a jurisdiction known for its lenient financial regulations. This raises red flags, as brokers operating from such regions often lack stringent oversight, potentially compromising client fund security.
  The Forex Review

Client Complaints and Negative Reviews

• Withdrawal Issues: Users have reported significant difficulties in withdrawing funds, with some alleging that their withdrawal requests were ignored or denied without valid explanations. This pattern is commonly associated with fraudulent brokerage operations.
• Aggressive Solicitation: There are reports of Empire Swiss engaging in aggressive cold-calling tactics, pressuring individuals to make depositsalistic returns. Such practices are indicative of potential scam operations.

Allegations of Fraudulent Activities

• Fake DMCA Takedown Notices: Empire Swiss has been accused of attempting to suppress negative online craudulent Digital Millennium Copyright Act (DMCA) takedown notices. This unethical strategy aims to manipulate public perception by removing unfavorable information from search engine results.
  Gripeo
• Misleading Information: The broker’s website contains discrepancies regarding accepted payment methods, with inconsistencies between platform claims and legal documents. Such inconsistencies can mislead clients about transaction processes and associated costs.
  Forex Brokerz

The combination of unverified regulatory status, operational transparency issues, client complaints about fund withdrawals, aggressive solicitation practices, and attempts to censor negative information raises significant concerns about Empire Swiss’s credibility and trustworthiness. Potential investors are strongly advised to exercise caution and consider engaging with brokers that are fully licensed and regulated by reputable financial authorities to ensure the safety of their investments.

Analyzing the Fake Copyright Notice(s)

Our team collects and analyses fraudulent copyright takedown requests, legal complaints, and other efforts to remove critical information from the internet. Through our investigative reporting, we examine the prevalence and operation of an organized censorship industry, predominantly funded by criminal entities, oligarchs, and disreputable businesses or individuals. Our findings allow internet users to gain insight into these censorship schemes’ sources, methods, and underlying objectives.

What was Empire Swiss trying to hide?

Empire Swiss‘s attempts to hide unfavourable content through the misuse of copyright notices while allegedly engaging in perjury present serious legal concerns. These actions suggest a calculated attempt to manipulate legal systems to suppress free speech, a fundamental violation of copyright law principles and an abuse of legal processes. The use of such tactics not only undermines the integrity of copyright protection but also potentially constitutes perjury, further entangling Empire Swiss in legal accountability. Let’s examine the information Empire Swiss may be trying to remove from the internet –

In-Depth Investigative Report: Empire Swiss – Allegations, Complaints, and Concerns

Introduction

Empire Swiss is an online brokerage that promotes itself as a reliable platform for trading forex, commodities, indices, and cryptocurrencies. Despite its outward claims of transparency and high-quality services, Empire Swiss has been embroiled in a series of controversies and allegations that cast doubt on its legitimacy and business practices. This investigation unpacks the adverse news, client complaints, and accusations to provide a comprehensive understanding of the issues surrounding the company.

1. Background and Registration

Empire Swiss operates from St. Vincent and the Grenadines, a jurisdiction known for its lax regulatory environment. Many unregulated brokers choose to register in such regions to exploit lenient financial oversight.

Regulatory Concerns

• Lack of Licenses from Trusted Authorities:
  • Empire Swiss does not hold licenses from major regulators such as the FCA (UK), ASIC (Australia), or CySEC (Cyprus). This lack of regulation raises red flags about client fund safety and the company’s accountability.
• Ambiguity in Corporate Identity:
  • The broker provides limited information about its owners or corporate structure, further diminishing its transparency and credibility.

2. Allegations and Complaints

2.1. Withdrawal Issues

One of the most common complaints involves difficulties in withdrawing funds:

• Clients allege that withdrawal requests are often ignored or outright denied without clear explanations.
• There are numerous reports of extended delays, with some users waiting months for their money, only to have their accounts deactivated after raising concerns.

Case Example:

A user reported depositing $10,000 into their trading account. When attempting to withdraw profits, their requests were delayed repeatedly, and customer support provided vague reasons. Ultimately, the withdrawal was never processed, and the user’s account was suspended.

2.2. Aggressive Solicitation Practices

Empire Swiss has been accused of engaging in high-pressure sales tactics, often through unsolicited calls:

• Potential clients are cold-called by representatives who make exaggerated claims about guaranteed profits and minimal risks.
• These tactics often target novice investors, persuading them to deposit significant amounts with promises of “special” investment opportunities.

Client Experience:

One individual shared that they were bombarded with calls encouraging them to invest more funds, despite already facing issues with their existing account. The aggressive nature of these interactions left them feeling harassed and suspicious.

2.3. Fraudulent Activities

Empire Swiss has been linked to fraudulent behavior in several areas:

1. Fake DMCA Takedown Notices:
   • Reports indicate that Empire Swiss attempted to suppress negative online reviews and investigative articles by filing fraudulent Digital Millennium Copyright Act (DMCA) takedown requests.
   • This tactic is commonly used by unscrupulous companies to manipulate their online reputation and bury unfavorable content.
2. Misleading Website Information:
   • Discrepancies in the payment methods listed on their website and legal documents have been identified.
   • Users report that the terms and conditions are convoluted, making it challenging to understand fees and withdrawal processes.
3. Opaque Bonus Policies:
   • Several clients claimed they were lured into accepting bonuses, only to find hidden clauses that restricted withdrawals. For instance, the bonus terms allegedly required clients to meet impossible trading volume targets before accessing their funds.

3. Client Feedback and Public Reviews

Negative Reviews

Empire Swiss has received overwhelmingly negative feedback on platforms like ForexPeaceArmy and Trustpilot:

• Untrustworthy:
  • Clients frequently label the broker as a scam, citing unresponsive customer service and unfair account closures.
• Withdrawal Denials:
  • Complaints about funds being withheld dominate the reviews, with some clients reporting losses of thousands of dollars.
• Manipulative Tactics:
  • Users describe the broker’s representatives as pushy and deceptive, using tactics that exploit inexperienced traders.

Positive Reviews

• Some reviews praise the platform’s interface and range of financial instruments. However, these are often suspected to be fake or planted, given the stark contrast with the majority of negative feedback.

4. Operational Red Flags

Unregulated Operations

• By registering in St. Vincent and the Grenadines, Empire Swiss avoids stringent oversight, allowing it to operate with minimal accountability.
• Clients have no recourse to regulatory bodies for disputes, leaving them vulnerable to unethical practices.

High Risk of Fund Mismanagement

• The absence of segregated accounts or fund protection mechanisms increases the likelihood of misuse of client funds.

Cryptocurrency Payments

• Empire Swiss primarily accepts cryptocurrency for deposits and withdrawals. While convenient, this approach:
  • Lacks transparency.
  • Makes transactions irreversible, complicating recovery efforts in case of disputes.

5. Connection to Larger Scam Networks

Empire Swiss has been linked to other brokers with similar operational tactics, raising suspicions of being part of a broader network of fraudulent companies. Patterns include:

• Shared website templates and marketing strategies.
• Similar complaints of withdrawal delays and unregulated operations.

6. Legal Implications and Lack of Recourse

Difficulties in Pursuing Legal Action

• Victims of Empire Swiss face significant challenges when attempting to recover funds:
  • Offshore registration complicates legal proceedings.
  • The company’s lack of identifiable ownership makes it difficult to hold individuals accountable.

Warnings from Review Platforms

• Gripeo and ForexDepositBonuses have issued warnings about Empire Swiss, advising potential investors to exercise caution and avoid engagement.

7. Broader Implications for the Trading Community

The issues surrounding Empire Swiss highlight the risks of engaging with unregulated brokers:

• Novice traders are particularly vulnerable to predatory practices.
• The prevalence of brokers like Empire Swiss underscores the need for stricter global regulation of the online trading industry.

8. Recommendations for Potential Clients

1. Verify Broker Credentials:
   • Only engage with brokers licensed by reputable regulators such as the FCA, ASIC, or CySEC.
2. Research Reviews Thoroughly:
   • Look for consistent patterns in user feedback across multiple platforms.
3. Avoid High-Pressure Sales Tactics:
   • Legitimate brokers do not aggressively solicit funds or make unrealistic promises.
4. Test with Small Deposits:
   • If considering a broker, start with a minimal deposit to test the platform’s functionality and withdrawal process.

Conclusion

Empire Swiss operates under a veil of secrecy, employing aggressive sales tactics, suppressing negative information, and failing to address widespread complaints. The broker’s unregulated status, coupled with numerous allegations of fraud and unethical practices, makes it a high-risk choice for traders.

For potential clients, the evidence strongly suggests avoiding engagement with Empire Swiss. Opting for regulated, transparent, and well-established brokers remains the safest path for protecting investments and ensuring a fair trading experience.

How do we counteract this malpractice?

Once we ascertain the involvement of Empire Swiss (or actors working on behalf of Empire Swiss), we will inform Empire Swiss of our findings via Electronic Mail.

Our preliminary assessment suggests that Empire Swiss may have engaged a third-party reputation management agency or expert, which, either independently or under direct authorization from Empire Swiss, initiated efforts to remove adverse online content, including potentially fraudulent DMCA takedown requests. We will extend an opportunity to Empire Swiss to provide details regarding their communications with the agency or expert, as well as the identification of the individual(s) responsible for executing these false DMCA notices.

Failure to respond in a timely manner will necessitate a reassessment of our initial assumptions. In such an event, we will be compelled to take appropriate legal action to rectify the unlawful conduct and take the following steps –

Since Empire Swiss made such efforts to hide something online, it seems fit to ensure that this article and sensitive information targeted online by these events get a lot more exposure and traffic than what it would have received originally

We hope this becomes an excellent case study for the Streisand effect…The key idea behind the Streisand effect is that efforts to restrict information can backfire, often causing the information to gain more attention than it would have otherwise. This effect is widespread in the digital age, where users quickly notice and spread censorship efforts on social media and other platforms. Trying to suppress something can unintentionally lead to it becoming more visible, which Empire Swiss is finding out the hard way.

Potential Consequences for Empire Swiss

Under Florida Statute 831.01, the crime of Forgery is committed when a person falsifies, alters, counterfeits, or forges a document that carries “legal efficacy” with the intent to injure or defraud another person or entity.

Forging a document is considered a white-collar crime. It involves altering, changing, or modifying a document to deceive another person. It can also include passing along copies of documents that are known to be false. In many states in the US, falsifying a document is a crime punishable as a felony.

Additionally, under most laws, “fraud on the court” is where “a party has sentiently set in motion some unconscionable scheme calculated to interfere with the judicial system’s ability impartially to adjudicate a matter by improperly influencing the trier of fact or unfairly hampering the presentation of the opposing party’s claim or defense.”  Cox v. Burke, 706 So. 2d 43, 46 (Fla. 5th DCA 1998) (quoting Aoude v. Mobil Oil Corp., 892 F.2d 1115, 1118 (1st Cir. 1989)).

Is Empire Swiss Committing a Cyber Crime?

Yes, it seems so. Empire Swiss used multiple approaches to remove unwanted material from review sites and Google’s search results. Thanks to protections allowing freedom of speech in the United States, there are very few legal ways to do this. Empire Swiss could not eliminate negative reviews or search results that linked to them without a valid claim of defamation, copyright infringement, or some other clear breach of the law.

Faced with these limitations, some companies like Empire Swiss have gone to extreme lengths to fraudulently claim copyright ownership over a negative review in the hopes of taking it down.

Fake DMCA notices have targeted articles highlighting the criminal activity of prominent people to hide their illegal behavior. These people, which include US, Russian, and Khazakstani politicians as well as members from elite circles including the mafia and those with massive financial power, are all connected – and alleged corruption ranging from child abuse to sexual harassment is exposed when exploring evidence found at these URLs. It appears there’s a disturbing level of influence being exerted here that needs further investigation before justice can be served. Empire Swiss is certainly keeping interesting company here….

The DMCA takedown process requires that copyright owners submit a takedown notice to an ISP identifying the allegedly infringing content and declaring, under penalty of perjury, that they have a good faith belief that the content is infringing. The ISP must then promptly remove or disable access to the content. The alleged infringer can then submit a counter-notice, and if the copyright owner does not take legal action within 10 to 14 days, the ISP can restore the content.

Since these platforms are predominantly based in the U.S., the complaints are typically made under the Digital Millennium Copyright Act (DMCA), which requires online service providers and platforms to react immediately to reports or violations. Big Tech companies rarely have systems in place to assess the merit of each report. Instead, all bad actors need to do is clone a story, backdate it, and then demand the real thing be taken down.

Reputation Agency's Modus Operandi

The fake DMCA notices we found always use the “back-dated article” technique. With this technique, the wrongful notice sender (or copier) creates a copy of a “true original” article and back-dates it, creating a “fake original” article (a copy of the true original) that, at first glance, appears to have been published before the true original.

Then, based on the claim that this backdated article is the “original,” the scammers send a DMCA to the relevant online service providers (e.g. Google), alleging that the ‘true’ original is the copied or “infringing” article and that the copied article is the “original,” requesting the takedown of the ‘true’ original article. After sending the DMCA request, the person who sent the wrong notice takes down the fake original URL, likely to make sure that the article doesn’t stay online in any way. If the takedown notice is successful, the disappearance from the internet of information is most likely to be legitimate speech.

As an integral part of this scheme, the ‘reputation management’ company hired by Empire Swiss creates a website that purports to be a ‘news’ site. This site is designed to look legitimate at a glance, but any degree of scrutiny reveals it as the charade it is.

The company copies the ‘negative’ content and posts it “on the fake ‘news’ site, attributing it to a separate author,” then gives it “a false publication date on the ‘news’ website that predated the original publication.

The reputation company then sent Google a Digital Millennium Copyright Act notice claiming the original website infringed copyright. After a cursory examination of the fake news site, Google frequently accepts the notice and delists the content.

In committing numerous offences, Empire Swiss either premeditated actions or were unaware of the consequences. Despite hiring an agency to make Google disregard any negative information about Empire Swiss, ignorance does not excuse this wrongdoing.

Fake DMCA notices have targeted articles highlighting the criminal activity of prominent people to hide their illegal behavior. These people, which include US, Russian, and Khazakstani politicians as well as members from elite circles including the mafia and those with massive financial power, are all connected – and alleged corruption ranging from child abuse to sexual harassment is exposed when exploring evidence found at these URLs. It appears there’s a disturbing level of influence being exerted here that needs further investigation before justice can be served. FSMSmart is certainly keeping interesting company here.

The Reputation Laundering

Rogue Reputation agencies use spurious copyright claims and fake legal notices to remove and obscure articles linking clients to allegations of tax avoidance, corruption, and drug trafficking. Most of these reputation agencies are based offshore, mainly in Russia, India, and Eastern Europe, and they do not worry about complying with US-based laws.

The content in all of the articles for which the fraudulent DMCA notices have been sent relates to allegations of criminal allegations, including corruption, child abuse, sexual harassment, human trafficking and financial fraud against businesses and individuals with ultra-high net worth.

In addition to the misuse of the DMCA takedown process, there is a notable absence of enforcement concerning perjury violations. The statutory requirement related to perjury is designed to deter copyright holders from submitting fraudulent or knowingly false takedown requests, as they may face legal consequences for making false declarations under penalty of perjury. However, to date, there have been no known instances of any individual being prosecuted for perjury in connection with the submission of false DMCA takedown notices.

This lack of enforcement has emboldened copyright holders to exploit the DMCA takedown process to suppress dissent, criticism, or other unfavorable content, without fear of legal repercussions.

Some of the people and businesses who have employed this tactic to remove legitimate content from Google illegally include a Spanish businessman-turned-cocaine-trafficker, Organised crime, an Israeli-Argentine banker accused of laundering money for Hugo Chávez’s regime, a French “responsible” mining company accused of tax evasion, child molesters and sexual predators. Empire Swiss is in great company ….

What else is Empire Swiss hiding?

We encourage you to ‘Dork‘ Google by searching for keyword combinations such as [Empire Swiss] + {Negative Keyword, such as Scam, Fraud, Complaints, Lawsuit, Sanction, etc} on Google. It’s likely if you scroll down to the bottom of this Google search results, you’ll stumble upon this Legal Takedown notice (pictured below)

To make such an investigation possible, we encourage more online service providers to come forward and share copies of content removal requests with industry experts and researchers. If you have any information on Empire Swiss that you want to share with experts and journalists, kindly email the author directly at [email protected].

All communications are strictly confidential and safeguarded under a comprehensive Whistleblower Policy, ensuring full protection and anonymity for individuals who provide information.