Greymountain Management Ltd., a firm based in Dublin, is being taken to the Irish High Court by investors who claim to have been scammed to the tune of €4.1m.
The company in question is presently being liquidated, and is now being sued along with Dublin-based directors Liam Grainger and Ryan Coates and Israeli directors David and Jonathan Cartu.
The traders who claim to have been wronged hail from around the globe. Some are from Britain, the USA, and Canada, while others come from Singapore and the UAE.
According to the investors, they were lured in with false information, including fictitious historical trading data and reviews from fake customers. Supposedly, Greymountain misrepresented its advisors as well as its location, and promised financial gains which it did not deliver. The investors also have accused the company of robbing them blind through rigged software.