Boiler Rooms | FinTelegram News

Category: Boiler Rooms

September 8, 2023

Whistleblower Request: Boiler Room & Broker Scheme Operator Gennaro Lanza And His Activities.

The Italian entrepreneur Gennaro Lanza has long been known to FinTelegram as the mastermind behind boiler rooms and offshore brokerage schemes that offer financial services without regulatory permission in the EEA and other regulatory regimes. Lanza is also known for running fake websites and backdating FinTelegram articles without our consent. While he continues to operate his broker schemes, he makes fake DMCA claims on Google and sends his lawyers. We would like to learn more.

August 24, 2023

German Prosecutors Filed Indictment Against Former SafeMarkets Manager Chen Ganon!

German prosecutors issued an arrest warrant for Israeli Chen Ganon last year. The arrest warrant was suspended on bail. There is already an indictment and the trial will follow shortly. Ganon was one of the lieutenants of convicted cybercrime mastermind Gal Barak. As the manager in charge of the SafeMarkets scam Ganon was responsible for thousands of victims worldwide from whom millions were stolen. Ganon ran the boiler room behind SafeMarkets in Sarajevo, Bosnia-Herzegovina.

June 20, 2023

Please Share Information About The Vanished Broker Scams GreenLine, GreenLinePro, And Grow Pro Markets!

We issued several warnings in 2022 against the broker scams GreenLine a/k/a GreenLinePro and Grow Pro Markets, operated through an Israeli team in Cyprus around Ori Nagar. Nagar was arrested on a warrant issued by German authorities. The scams have since disappeared with their victims' money. We would like to know more about the operators to assist victims and law enforcement with information. Please share your information with FinTelegram.

April 20, 2023

Five High-Value Cybercrime Targets Arrested In Law Enforcement Action Days!

European Union legal agencies Eurojust and Europol have supported a coordinated action against a fraudulent online investment platform, which has defrauded 33,000 victims an estimated €89 million. Two days of police action took place in March, during which five suspects were arrested at requests of German authorities. Some 15 locations were searched in Bulgaria, Romania, and Israel. The searches included five illegal boiler rooms.

February 23, 2023

Cybercrime: Serbian Boiler Rooms May Have Stolen $7 Billion From More Than 127.000 Victims!

In action day in January this year, Serbian law enforcement with the support of Europol and Eurojust raided several boiler rooms, including Olympus Prime and Asgard in Belgrade. They found significant data and evidence, the analysis of which established a well-founded suspicion that these boiler rooms may have defrauded more than 127,000 citizens worldwide with estimated total amount of more than $7 billion.

January 22, 2023

Exposed: The Stolen Millions Of The Israeli Scam Brokers And The Missing Restitution Payments!

In Austria, another trial in the environment of Israeli Gal Barak's cybercrime organization E&G Bulgaria will begin in a few weeks. Barak was sentenced in 2020 for investment fraud and money laundering to several years of imprisonment and about €4 million in restitution payments that he has not paid yet. Criminal records show that Gal Barak, his wife, Marina Barak, and his partners, Gery Shalon and Vladislav Smirnov, earned around €38 million between 2017 and 2019 alone.

January 19, 2023

Novox Group: The Hidden Binary Options Scam Enabler And The Guilty Plea!

Novox Capital, once a CySEC-regulated company, operated some "regulated" binary options brands. Additionally, Novox provided services to numerous scam schemes and offered them a regulatory umbrella: Option888 of Uwe Lenhoff, OptionStars of Gal Barak, and many others. The beneficial owners of the Novox Group were the cousins' Shay Hillel and Yehoram Hillel. They were also the main shareholders of the broker software company Tradologic. Novox and the Hillels are also at the center of the various trials.

January 17, 2023

What happened To Israeli Binary Options Mastermind Yossi Herzog?

The binary options industry was conceived in Israel as a gamification of the Forex industry. Forex for the stupid, it was. One of the masterminds and a member of our super villains' list was Yossi Herzog. Together with his junior partner Yakov "Kobi" Cohen, he launched, among others, the Yukom Scheme. While their former CEO, Lee Elbaz, and other managers were sentenced to prison and fines in the U.S., Herzog and Cohen are not available for the U.S. authorities.

January 13, 2023

Europol Announced Action Day Against Boiler Room Operators Ib Bulgaria, Serbia, And Cyprus!

Law enforcement agents from Bulgaria, Cyprus, Germany, and Serbia, supported by Europol and Eurojust, have teamed up against organized crime groups involved in online investment fraud. This criminal network, comprising several different criminal actors operating through boiler rooms, lured victims into investing large amounts of money into fake cryptocurrency schemes. Europol set up an Operational Task Force to support the cross-border investigation.

November 11, 2022

Law Enforcement Action Day In Ukraine Against Boiler Room Operators!

Cyberpolice in Ukraine conducted an action day and raided several boiler rooms associated with broker scams. The scammers allegedly stole more than €200 million per year. The Ukraine cyberpolice arrested five citizens participating in a large-scale international criminal scheme. The Ukraine action day was conducted in cooperation with law enforcement officers of Albania, Finland, Georgia, Germany, Latvia, and Spain.

October 3, 2022

Urgent! Do Not Fall For Fund Recovery Scam Blockchain-Cryptotransfer.com!

We received another email from one of the numerous fund recovery scams that pretend to be an authority. In the email, a financial inspector named Sylvie Hopper ([email protected]) informed us that they found almost $33,000 on an account that seems to be related to us. We could request the payout. Before that, however, we have to make a phone call with the financial inspector (Dutch number +31616780252), who is actually a boiler room agent. Stay very far away.

September 28, 2022

Introducing DBX Consultants Of Boiler Room Operator Gennaro Lanza!

DBX Consultants is a company builder and merchant service provider in Dubai headed by the boiler room veteran Gennaro Lanza. DBX Consultants offers banking consultancy, arranges bank accounts for business, company incorporations, and PSP merchant accounts. A few weeks ago, the company's CEO, Gennaro Lanza, announced that they would establish a branch in Cyprus to build a bridge to Dubai. Lanza is the owner and director of the Maltese boiler room operator Capital Solutions Ltd.