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Illegal Boiler Rooms in Belgrade – Exposing Tera Media DOO

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The boiler rooms in Belgrade are still active. Officially, they operate as call centers, business process outsourcing (BPO) or marketing companies. In fact, they are illegal boiler rooms whose agents attack investors in the EU with unlicensed and fraudulent forex or crypto products. The dozens of boiler rooms in Belgrade are mostly run by Israeli managers. The various EU authorities estimate the damage caused by these boiler rooms in Belgrade at several hundred million. Over the last few months, EU investigative agencies have tracked down the Boiler Rooms and their operators through covert operations and V-people. FinTelegram has been confirmed by the authorities that a large number of these boiler rooms have been identified and their agents have been captured.

Tera Media and its shareholders

One of these large boiler rooms in Belgrade is operated by Tera Media DOO located at Omladinskih Brigada 88 in Belgrade’s Airport City Business Complex. The shares of this company initially were held by Nostro Technology OÜ, registered in Estonia (EU).

Currently, FGM Technology Ltd, registered on the Marshall Islands, is recorded as a shareholder in the Serbian companies register. Numerous financial market supervisory authorities such as UK FCA have issued investor warnings and cease and desist against both Tera Media DOO shareholders. These companies are managed as operators of large binary options and broker scams such as 10Markets or PrestigeFM. One of the call centers (boiler rooms) behind this was Tera Media DOO in Belgrade.

Legal Entity


Scam Brands


Tera Media DOO Maja Rajačić 10Brokers, XLRtrader, PrestigeFM, GlobalFX n.a.
Nostro Technology OÜ
renamed into Euro Wealth OÜ
Zoltan Korcsog (HU), Yuliia Davydenko (UA) 10Brokers, GlobalFX, XLRtrade, PrestigeFM UK FCA, CONSOB, Finantsinspektsioon, CNMV, BaFin
FGM Technology Ltd Maja Rajačić 10Brokers ASIC, UK FCA

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