EFRI Is A Ploy Fashioned By Ilan Tzorya And Elfriede Sixt To Scam People Multiple Times

If it’s your first time to come across the European Funds Recovery Initiative, known as EFRI, you might think it’s a well-structured organization committed to helping the victims of fraud scams recover their money through whatever means possible. But, that’s not the reality, and the absolute truth behind this initiative is quite sickening.

Founded by Elfriede Sixt, EFRI is nothing but an extension of a pan-European fraud scam run by Ilan Tzorya and a team of his close confidants. While the outfit was founded in late 2018, it’s part of a bigger game plan to take fraud victims in cycles and scam them over and over again.

Instead of helping the fraud victims as touted on their website, EFRI has turned into another agonizing avenue that has led to thousands of victims losing their money multiple times within the same chain of impunity. Sixt formed EFRI to spy over the victims of multiple online frauds organized and run by Ilan Tzorya, who is also referred to as the godfather of binary options fraud. And, of course, steal the little money left in their pockets while giving false promises about helping them recover their lost money.

EFRI Is Part of a Broader Criminal Gameplan

According to the information gathered by our team and the details of the screenshot attached above, EFRI is a subsidiary of Boehm’s UK-based Mezzacap Investment Ltd and FinTelegram—an outfit owned and run by Boehm, Tzorya, and Sixt. This relationship makes it crystal clear that EFRI is a component of the fraud network.

Founded by Elfriede Sixt, with two other criminal partners {Ilan Tzorya and Werner Boehm} working behind the scenes, the criminal gang effectively uses the organization to reach their deviant ends.

EFRI came into the public domain not long after the launching of FinTelegram, not so long after Sixt and Boehm had already been indicted of investor fraud and other offenses relating to the collapse of YLine in 2001 and the 2017 Bitrush scandal that put the two crime partners in a bad light.

EFRI is part of FinTech Academy, an illegal and uncertified institution. Sixt started with a criminal lawyer who helped her escape a jail term in the YLine fraud scandal. The two claimed to be financial advisors, binary options and crypto experets, and tax experts who would help people gain financial freedom using just a little investment. The training was done at the lawyers’ premises in Vienna.

Apart from playing an active role in YLine’s and BitRush scandal, the screenshot attached shows how Sixt set up the FinTech academy and offered flawed training at the KWR premises in Vienna. Sixt would train unsuspecting locals at a fee, giving them false confidence in Crypto and binary options trade, before forwarding them to Ilan Tzorya, the self-proclaimed crypto specialist who has mastered the art of online fraud using complex systems and strawmen.

Once the trainees, who believe they were equipped with sufficient knowledge to trade Crypto and binary options, are forwarded to Tzorya, they are passed down to the team at the call centres. The call agents then started persuading them and lying to them about making huge sums of money overnight through the online (fake) trading websites. With false confidence and flawed trading techniques, the victims would lose their stake in the manipulative Tradologic software.

The call agents, who also claimed to be financial advisors, compel the victims to add more money and win more profits to cover the prior losses. Tzorya’s team continued to persuade the victims until they were sure they could no longer add more funds to their wallets.

According to the investigative report by the joint German-Austria prosecutors, the victims’ money was transferred directly to Tzorya’s account without any actual trade taking place since the victims only interacted with a façade created by the criminals

EFRI Takes Over And Scams the Already Defrauded Victims

After scamming the victims, Tzorya forwarded the victims’ database to Sixt, the known founder of EFRI, to do a follow-up and scam them further. Sixt sent carefully targeted emails to victims of fraud, lying to them that EFRI would help them recover their money at no fee, as she claimed it was a no-profit entity.

Since no one would want to let their money go down the drainage when they can do something, the defrauded victims would innocently agree for help from EFRI without knowing it’s part of the broader fraud scheme that scammed them. After all, it was free of charge, according to the emails sent to them by Sixt. When the victims reach out for help from Sixt, who claimed to be a lawyer, they are told to pay a legal fee for jumpstarting the recovery process.

Sixt lied she is a lawyers,who would represent the victims in money recovery filed by EFRI. However, the entire process ended up in yet another scam. After the victims send the ‘legal fees’ to Sixt, their story ends with no lawyer hired, and the legal fee is never refunded to the victims, who are already surviving on a shoestring budget—or perhaps languishing in massive debts.

As if that’s not enough, Sixt also solicits donations from unsuspecting people of goodwill by presenting EFRI as a non-profit entity committed to helping the victims of fraud recover their money through a well-structured process. Sadly, not even a single victim of fraud has ever found help through EFRI. From FinTech Academy to Tzorya’s fake trading websites where thousands lost their money, and then EFRI, the world should know that EFRI is nothing more than part of Ilan Tzorya’s fraud network and Sixt and EFRI offer no practical help.

All EFRI does is steal the donations and scam their victims multiple times without offering any help towards recovering their money since the money is with Tzorya, who’s also their closest partner.

Tell a friend to tell a friend, and let’s save our innocent members of society from this dangerous group of criminal mafias.

Read our next article for more unfolding details about Sixt and EFRI.