Fulham claims to have performed due diligence before entering a partnership with IUX. But missed that the company used fake profiles, fake employees, fake reviews – and three investor alerts against it from national financial regulators.
By Martin Calladine
In September 2024, Fulham announced it had signed a deal with a new official CFD partner named IUX. CFDs – contracts for difference – are a sophisticated form of gambling, allowing people to profit on price changes of various financial products using leverage. IUX offers up to 3,000x leverage, which means that you can win or lose three-thousand times your stake. In the UK, where IUX does not operate, CFD leverage is capped at 30x.
With Fulham’s last CFD partner Titan Capital Markets having been exposed as a fraud and dumped by the club in 2022, the deal with IUX brought inevitable attention. Journalists and fans immediately raised questions about the company. Questions like who owns it, where is it based and who works for it?
The first small clue that something might be amiss was that, when Fulham announced the partnership, in a now deleted news story on its website, no names of employees of IUX were quoted, just the “Board of Directors.” A subsequent search for senior IUX staff on LinkedIn showed that all its UK and US people – numbering more than ten – were fake profiles, using images from other websites or stock shots of models.
Take Bobby Thomas. His LinkedIn profile said he was an IUX “con...
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