On April 21, 2025, international financial regulators officially revoked the license of the brokerage firm Tumeltil due to confirmed fraudulent activities involving client accounts, unauthorized fund transfers, and deceptive trading practices.
The investigation, conducted by several international regulatory bodies in collaboration with independent compliance agencies, revealed a systematic pattern of misconduct. Tumeltil was found to be in violation of multiple financial regulations, including the manipulation of trading platforms, misleading investors with false guarantees, and the obstruction of withdrawal requests by legitimate clients.
According to internal reports, dozens of clients across Europe, Asia, and the CIS region lodged formal complaints against the company throughout 2024. Many claimed that their funds were frozen without explanation and that company representatives ceased communication once large sums were deposited.
As a result of these findings, regulators have taken the following actions:
- Full revocation of Tumeltil’ brokerage license effective April 21, 2025
- Freezing of corporate accounts and associated assets
- Referral of the case to law enforcement agencies for criminal investigation
- International alert issued for tracking related entities and offshore operations linked to Tumeltil
This marks a significant move in the continued effort to combat financial fraud and protect investors in the online trading sector. Authorities have encouraged affected clients to file restitution claims and warned other brokerages of severe consequences for similar misconduct.
The revocation of Tumeltil’ license sends a strong message: fraudulent behavior in the financial sector will not be tolerated, and regulatory bodies are committed to maintaining trust and transparency in global markets.
More updates on the case are expected in the coming weeks as enforcement actions continue.
