Grey Mountain Management tried in vain to close their fraudulent payment processing company before the authorities and their victims could get to them. Wealth Recovery International, hired Irish law firm Arthur Cox on behalf of our clients to process an injunction to halt GMM going into liquidation. There attempt to close up and run away from their debts was unsuccessful.
GMM made the application after conceding to the court that it had dozens of customers around the world seeking their money back and said that it had been the subject of a Revenue audit.
The Irish Central Bank’s money laundering unit wrote to the company last year, saying it had concerns about Grey Mountain’s involvement in electronic trading and fund movements.
The company was also the subject of an investigation by The Times of Israel. In Israel it is at the center of a controversy about a trading system called binary options, now banned for Israeli citizens.