Balyasny Asset Management – WhatsApp Scam Misusing the Name

Savun Law & Consultancy · Updated 26 October 2026

Balyasny Asset Management (BAM) is, in reality, a world-renowned investment management company. However, this well-known name and the abbreviation "BAM" are being misused by fake "stock investment groups" run on WhatsApp and Telegram. These groups have no connection with the real Balyasny Asset Management; their aim is to draw investors into fake apps and take their money.

🪤 How Does the Scheme Work?

First contact: The victim is approached through social media or data the scammers already hold.
Being added to a group: The victim is added to "high-quality" WhatsApp/Telegram groups where so-called experts give stock tips and comments.
Pseudo-analysis by artificial intelligence: In the group, a person posing as a "professor" shares so-called stock commentary produced entirely by artificial intelligence, creating an impression of expertise.
Screening and probing: A so-called assistant keeps asking questions to gauge whether the person has money to set aside for investment.
The hook: After a while, under the name of "corporate cooperation", a "system" is offered that promises unrealistically high profits in a very short time.
Fake app: Once the person joins, a fake app that the scammers built themselves is downloaded, and profits that do not exist are displayed on the screen.
Withdrawal wall: When a withdrawal is requested, payment is refused with endless excuses such as fees, taxes and withholding tax; on top of this, new payments are demanded.

🔍 Information Identified

So-called assistant / group administrator: "Ece Yalçın" ("Ece hanım", Ms Ece)
So-called professor: "Cemal Çiller" (a so-called expert who shares analyses prepared with artificial intelligence)
WhatsApp numbers identified: +90 501 580 69 83, +90 553 132 43 55, +90 507 018 46 33, +90 551 350 96 67, +90 553 054 15 67
Group names used: code-named groups such as L71-BAM, F22-BAM, N18-BAM, BAM-J2 / BAM-H73 and L21 (the full original names and their English meanings are listed below)
Method: Fabricated profits displayed in a fake mobile app
Relationship with the real institution: None. The real Balyasny Asset Management has no connection with this scheme; its name is being misused only to borrow its reputation.
Capital Markets Board (SPK) registration: None. The groups and the app are not authorised in Türkiye by the Capital Markets Board (SPK).

📵 WhatsApp / Investment Groups Identified

The groups below were found to be run by the same operation under different code names, together with the contact lines used to route people into them. All of these groups serve the same fraud scheme:

L71-BAM Beraber Kazanıp Kalkınma Merkezi (Win and Grow Together Centre)
F22-BAM Gelişim ve Paylaşım Grubu (Development and Sharing Group) — contact: wa.me/5531324355 (+90 553 132 43 55)
N18-BAM Gelişim ve Paylaşım Grubu (Development and Sharing Group) — contact: wa.me/5070184633 (+90 507 018 46 33)
BAM-J2 Beraber Kazanma Gelişim Grubu (Win Together Development Group) — contact: wa.me/5513509667 (+90 551 350 96 67)
BAM-H73 Beraber Kazanma Gelişim Grubu (Win Together Development Group) — contact: wa.me/905530541567 (+90 553 054 15 67)
L21-Yatırım Planı için Kaliteli Grup (Quality Group for an Investment Plan)
K1 Deneyim Paylaşım Topluluğu (K1 Experience Sharing Community) — contact: wa.me/905550459557 (+90 555 045 95 57)
D-2 Finans Zirvesi (D-2 Finance Summit) — contact: wa.me/905515412965 (+90 551 541 29 65)
M30-BAM Gelişim ve Paylaşım Grubu (Development and Sharing Group)
Group administrator "Ece Yalçın": +90 501 580 69 83

🚩 Warning Signs

The name or abbreviation of a well-known investment firm being used in a WhatsApp group.
Trust built through "professor" and "assistant" roles and so-called analyses produced by artificial intelligence.
Promises of unrealistically high profits in a very short time.
Trading and "on-screen profit" only within the scammers' own fake app.
Endless payment demands in the name of fees, taxes and withholding tax at the withdrawal stage.

🛡️ Protection Tips

Whether an institution is authorised can be checked on the SPK list of authorised intermediary institutions. Before investing, check whether a platform is authorised by the regulator in your own country (for example the FCA, ASIC or SEC).
Groups on WhatsApp/Telegram that give "stock tips" and steer people to an app, and their "assistant/professor" roles, are typical features of this kind of scheme.
The "profit" shown only inside the promoted app is not real; any operation that asks for fees in order to allow a withdrawal is not a genuine one.

❓ Frequently Asked Questions

Who is the assistant Ece Yalçın?

An alias used in WhatsApp groups with the title of "group administrator/assistant" to steer victims. She is not a real investment expert; the aim is to bring the person into the fake system.

Who is Professor Cemal Çiller?

An alias presented in the groups as a "professor/expert" who shares so-called stock commentary prepared with artificial intelligence. He is not a real academic or authorised expert.

Is "BAM" really Balyasny Asset Management?

Although the groups try to inspire trust with this well-known name, they have no connection with the real Balyasny Asset Management. The name is used only to borrow its reputation.

Is it normal to be asked for fees or taxes to withdraw money?

No. Endless payment demands in the name of fees, taxes or withholding tax are a classic trap designed never to pay out and to take even more money.

I was harmed by this scheme. What should I do?

For detailed information and legal support, you can contact Savun Law & Consultancy.

🔗 Previously Identified and Exposed Networks

3 attorneys registered with the Istanbul Bar Association · verifyGoogle 4.8 ★ · 123+ reviews · seeOffice in Istanbul · English-speaking team · about us

This page is an English adaptation of our Turkish article Balyasny Asset Management Hisse ve Whatsapp Dolandırıcılığı.

More from Forex & CFD Broker Scams

All articles in this section →