January 18, 2021 | FinTelegram News

Month: December 2020

December 29, 2020

European Gambling – The Maltese Kaystros Group

Anil Uzun and his group of companies are big players in the European gambling and betting business. Besides, Uzun is also closely related to the FinTech scene. Until around 2017, he had several licensed and unlicensed FinTech companies with Ozan Ozerk. They established the Akce Group but separated around 2017. Currently, Uzun and his group of companies process most payments through GlobalNetInt UAB, part of the MoneyNetInt Group.

December 28, 2020

U.S. SEC obtained Emergency Asset Freeze against $120 Mio crypto scheme Virgil Capital

The U.S. SEC filed an emergency action and obtained an order imposing an asset freeze and other emergency relief against Virgil Capital LLC (www.virgilcap.com) and its affiliated companies in connection with an alleged securities fraud relating to Virgil Capital's cryptocurrency trading fund, Virgil Sigma Fund LP. The Commission's action alleges that the fraud was directed by Stefan Qin, an Australian citizen and part-time resident of New York, who owns and controls the crypto scheme.

December 28, 2020

Initial Coverage – Israeli FinTech unicorn eToro allegedly prepares for $5 Billion IPO in 2021

The global COVID-19 crisis is unlikely to prevent 2021 from being a promising year for stock markets and FinTechs. UK FinTech unicorn TransferWise is reportedly currently evaluating a billion-dollar blockbuster IPO for 2021 led by Goldman Sachs. The latter is also said to be evaluating an IPO of the Israeli FinTech unicorn eToro on Nasdaq at a $5 billion valuation, Israeli Calcalist reports. Allegedly, it has been valued at about $2.5 billion.

December 27, 2020

Jeton Review Update – The Gambling Payment Processor and its Cyprus-Turkish reseller network

In our review of the Jeton payment platform powered by FCA-regulated entities La Orange and Financial House, we registered and tested the Jeton Wallet app. After we uploaded the required documents for verification, it took just under 10 days for the verification to actually take place. To that extent, we were able to continue the review and learn more about functionality and the Jeton environment. Here's the update on that.

December 25, 2020

Troubles for high-risk processor iPayTotal – Court order to wind-up and nasty Octopay rumors

A UK court entered an order to wind-up the iPayTotal Ltd. And then rumours relating Octapay Group to iPayTotal. Octopay's former CEO, Christian van Biezen was fired for various alleged misconduct. However, Biezen told FinTelegram that he refused to participate in the Octapay scam and was fired because of it. He claims that the economic owners behind Octapay would be identical to those behind iPayTotal. Now a new Chief Experience Officer, Davina Mungroo, has been appointed at iPayTotal.

Fintech

December 25, 2020

Crypto-rejecting FinTech unicorn TransferWise plans blockbuster IPO for 2021

A battle is currently raging between the old central bank-controlled FIAT monetary system with the dollar as the reserve currency and the new decentralized cryptosystem. Quantitative easing policies in the wake of various crises in recent years cast doubt on the FIAT system's sustainability. 2020 was also the year institutional investors got into Bitcoin. In 2021, FinTech unicorn TransferWise is planning a billion-dollar IPO - a FinTech that rejects the cryptosystem.

December 23, 2020

FinTech Review – High-risk payment processor Jeton

Jeton is operated by FCA-regulated agent La Orange Limited together with its FCA-regulated principal Financial House Limited. The payment service should be offered online via the website www.jeton.com as well as via the Jeton Wallet. Jeton offers its payment services to individuals and businesses (merchants). This is supposed to be done in a matter of minutes. The fact is that after more than a week, we still have no verification. According to their support, Brexit is to blame.

R4I
ticker

December 23, 2020

R4I – What’s your experience with the Israeli fund recovery venture Action Refund?

Hundreds of binary options, Forex, and CFD scams have robbed hundreds of thousands of investors worldwide of their money since 2010. Therefore, Israeli fund recovery experts we Wealth Recovery International (WRI) of Austin Smith have also emerged. Smith was convicted in the U.S. for investment fraud related to the Yukom binary options scam and his WRI activities. Now there is a new Israeli fund recovery expert, Action Refund Ltd (ARF). We'd like to know more about it.

December 22, 2020

Bet90 Holdings – The Zombie company that survived its founder Lenhoff

On December 9, 2020, Bet90 Holdings PLC announced that it had received another €700,000 via a convertible loan. Since the arrest of founder Uwe Lenhoff in January 2019 on charges of operating a cybercrime organization with many online scams and his subsequent death in prison in early July 2020, it is completely unclear how the story will end. Authorities in several countries are still investigating the matter for investment fraud and money laundering and could give the story a few more twists.

December 22, 2020

UK FCA warns against broker scam Plutus with Estonian BitTheBank payment processor

FCA has issued an investor warning against the broker scam Plutus a/k/a Plutus Pro (www.plutus.pro) on December 21, 2020. An ITM Solutions LLC allegedly operates this from St. Vincent and the Grenadines. As a payment processor, we have discovered the Estonian BitTheBank (www.bitthebank.com) operated by Lipan Services OÜ. Plutus promotes its services on Instagram using the argument of 'financial freedom' via FX Trading and was active until a few minutes ago despite FCA's warning.

December 22, 2020

Bleaxmond Scam – Boiler room agents vanished into thin air

On Aug 7, 2020, the UK regulator FCA has warned against the Estonian broker scam Bleaxmond. FinTelegram reported on it here. While the website (www.bleaxmond.com) is still online, no registration is possible, and boiler room agents vanished victims reported. The illegal broker is operated by AlephLink Solutions Ltd OÜ, which is registered in Estonia. Efthymios Marangos and Karmo Neider used to be the company’s directors.

December 21, 2020

Finally gone! Disgraced Israeli Payment processor Bruc Bond et al vanished to Singapore

The Bank of Lithuania revoked the company's EMI license in April 2020. FinTelegram has previously alerted its readers in numerous reports. For this, FinTelegram has been sued for alleged defamation in Israel. The Bank of Lithuania actually fully confirmed the reports and turned the alleged defamation into a proven fact. In the meantime, Bruc Bond has disappeared from the EU and operates on the Asian markets with a MAS license in Singapore. They have gone to conquered Asia.