I’m writing this post from the perspective of US investors. BluestarFX is operating illegally in the US. My opinion is that BlueStarFX is most certainly a scam brokerage. Why? Because of who the owners are and because of the people who are now using it to operate their PAMM accounts.
Who are the Owners of BluestarFX?
- Haydn Stevenson
- Juan Carlos Bustamante
- Jack Cobb
- Konstantinos Stylianopoulos
Jack Cobb
Jack Cobb is a Pennsylvania resident. According to Mark Marshall, Jack was allegedly involved in multiple scams. I’ve been unable to verify this myself but it seems likely.
Source: a conversation I had with Mark Marshall on Telegram. Mark Marshall is a minister and has a financial incentive for BluestarFX to do well, so he has no reason to make this up.
If what Mark Marshall is saying is true, then why would you trust a brokerage owned by someone like Jack Cobb?
Konstantinos “Dino” Stylianopoulus
Dino is a retired airline pilot. More importantly, and more relevant, he’s a Ponzi scheme promoter. Dino has been involved in USI-Tech and Karatbars, which are both collapsed Ponzi schemes. He was also involved in a pyramid scheme called Lyoness.
Dino was an ambassador (top leader) in USI-Tech. USI Tech was a $150,000,000+ Ponzi scheme. Dino traveled around the world speaking at events to promote this scam.
Karatbars is another Ponzi scheme Dino promoted. Karatbars was a large Ponzi scheme orchestrated by Josip Heit and Harald Seiz. This scam has since collapsed with arrest warrants put out for Harald Seiz.
Clearly, Dino has a long history of being involved in promoting scams. Why would anyone deposit money into a brokerage he owns? I know I wouldn’t.
Haydn Stevenson
Haydn Stevenson is a New Zealand citizen believed to be living in Japan. He has a long career in MLM and scams. He was part of the Lyoness Pyramid scheme. He also operated a pyramid scheme called Staged, as reported by BehindMLM.
Haydn was also involved in a scam called Funky Shark. Funky Shark was fined by the SEC and subsequently shut down. The SEC fined them for operating an illegal investment.
I’m quoting from BehindMLM where Oz has done more research on Funky Shark:
“This is the brain child of Kevin deBellefeuille, Haydn Stevenson, and Scott Walker all of whom have extensive experience in the world of internet marketing.
Haydn has been on my list for about 10 years and lives in Japan too. He is in Lyoness with me and we talk regularly. Today, I got a long chat with him on how this new company is expected to roll out.”
From BehindMLM.com
Another scam Haydn has promoted was Zeek Rewards.
The shortened goo.gl link goes directly to Zeekler.com, which was a $600mm Ponzi scheme that was shut down by the SEC.
According to Mark Marshall, who has inside information, Haydn is no longer a legal owner of BluestarFX. He was at one point an owner. It’s unclear if he is still one of the owners because he is on the corporate documents. It’s possible the online documents aren’t up to date.
Given that Haydn was or is an owner of BluestarFX, why would you trust BluestarFX with your money based on his history?
Juan Carlos Bustamante
I currently do not have any information related to Juan Carlos’s past. I do know he has been connected to Wayne Nash (see below) for more than 10 years, which is a bad sign.
One thing that is important to mention is that Juan Carlos did a Zoom call to help Scott Morris recruit people into his PAMM account. More on that below.
Wayne Nash
There’s another tie here to BluestarFX who is not on the corporate documents. Wayne Nash. Wayne Nash is a serial Ponzi promoter. Wayne is a Canadian citizen currently living in Japan, which ties in with Haydn Stevenson.
When I say Wayne is a serial Ponzi promoter, I mean he has promoted at least 50 different Ponzi schemes.
Wayne Nash is the owner of AMFX or Advanced Managed FX. AMFX is associated with BluestarFX. Wayne has been promoting them both very heavily lately.
Here is a quote from one of Wayne’s emails (I’m on his email list and he has no idea).
Career Conmen Using BluestarFX
Two career conmen are using this brokerage. Scott Morris and Ed Zimbardi have moved over to using BluestarFX to set up PAMM accounts. These guys would not be using BluestarFX unless BluestarFX is going to allow them to show fake trade data and allow them to scam people.
Even if you’re not a US citizen, your investment will likely end up “stuck” in BluestarFX. This happens over and over with non-regulated brokerages.
Ed Zimbardi Scams
Ed Zimbardi is a felon and career con artist. He has set up at least four PAMM accounts using an illegal offshore brokerage called Mugan Markets. All four of his PAMM accounts ended with the money disappearing.
Ed was the owner/controller of Mugan Markets. Ed blamed anonymous traders for losing the money but in reality, he stole the money through a backdoor at Mugan Markets. The money was laundered through their liquidity provider named FX-Edge. To be clear, I doubt FX-Edge knows anything nefarious was going on.
After the PAMM accounts, Ed went on to operate a $100,000,000+ Ponzi scheme called CryptoProgram/AMS. Ed is under investigation by the SEC and was arrested in the Netherlands for money laundering and offering illegal investment services.
Now, Ed is setting up a PAMM account on BluestarFX called Low Risk Daily Withdrawals. I guarantee the money will end up disappearing.
Whatever you do, do NOT invest any money into anything Ed Zimbardi recommends. He’s a career conman.
Scott Morris Scams
Scott Morris is a convicted felon who has a long career of scamming people. He recently stole money through a scam called Stable Trading (Stable Trading 1.0). Scott Morris blamed the illegal offshore brokerage, Mugan Markets, for not paying out the money. This is either just a ruse to keep unhappy investors off his back or the brokerage stole the money. Either way, that’s why I make these warnings.
Now, Scott Morris is setting up Stable Trading 2.0 on BluestarFX and guess what… the money will end up disappearing.
Why Do I Believe BluestarFX is a Scam?
Scott Morris and Ed Zimbardi would not use a legitimate brokerage for a PAMM account. Why? Because then they wouldn’t be able to scam people!
Scott and Ed both have used fake trade data in their scams to convince people to sign up for their PAMM accounts. So, if BluestarFX wouldn’t allow them to do this, then they wouldn’t be using them.
Another reason I believe it’s a scam is because no reputable brokerage would have their owners on video with known scammers. One of the owners of BluestarFX is Juan Carlos Bustamante of California. Juan Carlos went on a Zoom call with scammer Scott Morris to help convince everyone it was a legitimate brokerage.
BluestarFX Negative Reviews Online
There are people online claiming they can’t take withdraw their money. This is what commonly happens in these illegal offshore brokerages. You deposit money, usually into a PAMM, and then you can no longer get your money out.
I believe there will be many, many more of these types of reviews within the next year or two.
Conclusion
Based on the information I’ve shared here, I’d strongly suggest not depositing money into BluestarFX. There’s an extremely high chance you’ll lose the money. If you’re considering depositing the money anyway after reading this I’d like you to consider something. The number one rule of investing = Don’t Lose Money! So, even if you can afford to lose the money to scammers, why would you risk it when there are so many red flags?
I recently left a review for BlueStarFX on Trust Pilot but it was removed. So, I wrote this post to warn people. This is a scam brokerage much like the brokerages Saphire Markets, Mugan Markets, IMGFX, or EnviFX.
To wrap this up, I just want to mention that I have a 100% track record of calling out scams. I’ve been right every time. I don’t get paid to share this information. The purpose of writing these posts is to warn the public because scams are a matter of public interest.
Best of luck!