info markets
Financial Scam
Marek Sala and his teams scams
Originally Vload (a brand of Primex Payments d.o.o. licensed as an EMI in Croatia) was operating for several years until they rebranded it to the next project Global Primex that was operational for around two years.
Both projects had the intention to bypass the strict regulations of card processors by selling vouchers to individual customers of high risk merchants such as gaming and forex. The individual customers would then deposit those vouchers to the high risk merchant. The merchant would receive the funds from the deposited vouchers through weekly settlements from Vload / Global Primex.
The scam performed was that with no substantiated or proved excuses Vload / Global Primex were refusing to settle the processed funds to the merchants following some months of processing, thus leaving away with the money in cold blood. The merchants were left with no defence as Vload / Global Primex were ‘creating’ excuses based on the signed contract in order not to settle the funds and then they were going unresponsive (their usual practice).
Converge Gate - The Latest Scam
In May 2024, suddenly and unexpectedly the Global Primex merchant portal was down. The merchants could not login in order to view their balance or have access to their funds.
Following weeks of emailing to Global Primex support with no response, merchants noticed that the Global Primex portal URL was redirecting to a new brand ‘Converge Gate’ URL indicating that Global Primex closed down its activities. The merchants could also access the Converge Gate portal with the old Global Primex credentials.
Sadly, despite the fact that merchants had access to a new portal, their balance was zero and no trading history was included in there i.e. there was no proof to show that they had a balance of processed funds before.
After months of emailing the Global Primex / Converge Gate team (they were replying in a very slow pace – once every two months), the Global Primex / Converge Gate team followed the same practices as before by replying:
‘your funds are withheld for a period of 360 days and this can be extended to a period of 540 days because you (the merchant) have breached clause …. of the merchant agreement’
and then went unresponsive again!
Pure scam!