Ben | FinTelegram News

Author: Ben

June 5, 2023

Former CEO Of Collapsed Austrian Laundromat Meinl Bank Is To Be Extradited To The U.S.

A London court today granted the U.S. extradition request against the former CEO of the collapsed Austrian Meinl Bank, Peter Weinzierl. The decision is not final; Weinzierl will now appeal to the High Court. The U.S. accuses him, another ex-bank manager, and Julius Meinl V. of money laundering and bribery surrounding the Brazilian Odebrecht Group scandal. Meinl Bank has been notorious for the laundering of Russian money.

FSMA
ticker

June 5, 2023

Attention: Belgian Regulator Issues Fraud Warning Against 38 Unauthorized Brokers!

The Belgian regulator Financial Services and Markets Authority (FSMA) has identified 38 online trading platforms operating without the necessary licenses in the country. The list includes various forex, CFD, and crypto brokers. The FSMA points out that these unlicensed trading platforms employ deceptive tactics such as scam advertisements on social media. They lure unsuspecting individuals with promises of quick wealth and above-average returns.

Fintech

June 2, 2023

Impressive: Revolut Acquired More Than 30 Million Customers!

Revolut, the London-based fintech unicorn, has exceeded 30 million customers globally, despite facing ongoing challenges with UK regulators while awaiting a decision on its banking license application. The growth rate is indeed impressive. In November 2022, Revolut announced it had achieved the 25 million milestone. Most of Revolut's user base (6.8 million) resides in the UK, followed by Romania and Poland, with 2.8 million and 2.5 million customers, respectively.

Court Cases

June 2, 2023

U.S. Indictment Against Senegalese Investment Fraudster

An indictment charges the California businessman Amadou Kane Diallo, 44, for allegedly soliciting investments under false pretenses and using investors’ funds to support his lavish lifestyle. The Senegalese national was the CEO of the two California-based companies Virtual Advisors LLC and Liquide Inc. Diallo is charged with 19 wire fraud counts and two money laundering counts.

May 31, 2023

Urgent Warning Against CityTrade Broker Scam!

German regulator BaFin has warned against the CityTrade broker scam, which offers retail clients trading in Forex, CFD, and Crypto with margin loans of up to 100%. The operator is said to be CityTrade PLC, which we have not found. Potential victims can lose their money via credit/debit cards and crypto deposits. You should not fall for this trading scam! Stay far away and protect your data and financial health.

May 31, 2023

Urgent Warning: Don’t Be A Pig! Don’t Get Butchered! Do Not Fall For Tinder Trading Scams!

Anyone looking for love on the Internet can quickly become the focus of criminals. In Bavaria, Germany, alone, at least €20 million has been scammed via single exchanges and social networks, according to the Zentralstelle Cybercrime. Investigators call the rapidly spreading fraud method "Tinder Trading Scams." Scammers try to contact potential victims via dating portals such as Tinder or social networks such as LinkedIn.

May 30, 2023

German Tax Lawyer Sentenced To 99 Months Prison Time For His Role In The Cum-Ex Scheme!

After the trial, which lasted just under a year, the court considered it proven that the accused tax lawyer Hanno Berger had participated in cum-ex stock deals between 2006 and 2008, which led to unjustified tax refunds of €113 million. He was sentenced to eight years and three months in prison. In 2017, the Attorney General's Office brought charges against Berger and five former Hypovereinsbank employees from London and Munich for serious tax evasion.

May 30, 2023

Urgent Warning Against OXShare Broker Scam!

Spanish regulator CNMV on Monday issued a warning against unauthorized forex, CFD, and crypto broker OXShare. This is allegedly operated by Oxshare Limited, registered in St. Vincent & The Grenadines or St. Lucia. We have only found an Oxshare Prime LLC in the company registry but cannot determine if it is affiliated with the broker. In any case, you should stay far away and protect your financial health.

May 30, 2023

Capitalix Update: The Offshore Broker’s Growth Continues Despite Scam Ratings!

Capitalix, an offshore broker operated by 4Square SY Ltd, holds a Security Dealer license issued by the FSA Seychelles. The payment agent for the offshore broker is 4Square (CY) Ltd, registered in Cyprus. Capitalix operates boiler rooms in Cyprus, Romania, and Columbia and is connected to the CySEC-regulated investment firms iTrade Global (CY) Ltd and Titanedge Securities Ltd. We have included the broker scheme in our Red Compliance list.

May 26, 2023

The Strange €100-Million German-Austrian Crypto Bond Scheme!

Euroinvest was a small bank in Vienna that was a notorious Internet share trading institution in the New Economy hype. The bank was controlled by the brothers Franz Wanovits and Johann Wanovits. In 2013, the latter was sentenced to five years in prison and ordered to pay 10 million in damages for share price manipulation of Telekom Austria. Euroinvest was renamed into Blue Rock and launched the Blue Coin Select 20 crypto bond most recently.

May 26, 2023

UK Cybercrime Mastermind Tejay Fletcher Sentenced to 13 Years In Prison!

Tejay Fletcher, 35, the founder and mastermind behind the iSpoof online fraud operation that defrauded over £100 million, has been sentenced to over 13 years in prison. He enjoyed lavish purchases, including a Lamborghini worth £230,000, two Range Rovers valued at £110,000, and an £11,000 Rolex watch. He allegedly made approximately £2 million from the iSpoof website, which was shut down last year in the UK's largest fraud crackdown.

May 26, 2023

Attention: The UK FCA Issues Another Regulatory Warning Against CT Matador Broker Scam!

FinTelegram has issued 12 warnings against the CT Matador broker scam in the last 18 months, but it is still active. As stated in the last warning in April 2023, the payment options at CT Matador are currently no longer active. Deposits can only be made via instructions from Boiler Room staff. This week, the Spanish regulator CNMV warned against CT Matador, followed by the UK FCA. Stay far away and keep your financial health. Please let us know your experience with this scam.