Category: Boiler Rooms

Be aware of Fund Recovery scamsU
Categories
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.
Read More
Gennaro Lanza and his DBX ConsultantsI
Categories
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.
Read More
Gal Barak and the gangG
Categories
September 23, 2022

Gal Barak – The Former Cybercrime Boss And His Gang!

Israeli Gal Barak, as principal of the E&G Bulgaria cybercrime organization, was sentenced in Vienna in September 2020 to several years in prison and more than €4 million in restitution. He was released on parole in the fall of 2021 and reportedly returned to Israel by private jet. There he established the Vantage Fund for convicted cybercriminals. His lieutenant Maor Sioni recently got married in Israel. Gal Barak plus his E&G Bulgaria gang were invited and pictured.
Read More
The Israeli Snitching Game around Gery ShalonG
Categories
September 16, 2022

German Prosecutors Got Another Israeli Boiler Room Arrested!

Simona Weinglass of The Times of Israel reported that the Greek police arrested the Israeli citizen and Cyprus resident Ori Nagar, 37, at an airport in Thessaloniki last month. German prosecutors had issued an arrest warrant on charges of online investment fraud. Nagar allegedly was one of the ring leaders of a broker and boiler room scam network that defrauded German victims by €1.4 million. Germany requested his extradition.
Read More
The Israeli Snitching Game around Gery ShalonB
Categories
August 14, 2022

Breaking: Veltyco Cybercrime Scheme Manager Sentenced To 12-Year Prison Term!

The first trial in the so-called Veltyo Cybercrime Scheme was held in Saarbruecken, Germany. The defendants were two Kosovans, Betim Tasholli, Azem Spahiu, and the Syrian Mohamad Shaker. Tasholli was the boiler room manager in Pristina, Shaker was responsible for the boiler room in Prague, and Spahiu was responsible for coordinating affiliate marketing around the scam brands Option888, ZoomTrader, TradoVest, or XMarkets. The Court sentenced Azem Spahiu to a 12-year prison term. Tasholli and Shaker are allegedly on the run.
Read More
OSC orders Cartu Brothers to pay millions in fines and disgorgementB
Categories
July 28, 2022

Breaking News – OSC Orders Cartu Brothers To Pay Millions In Fines And Disgorgement!

The dual Canadian-Israeli Cartu Brothers - David Cartu, Joshua Cartu, and Jonathan Cartu - have been notorious for their fraudulent binary options schemes around the Irish GreyMountain Management Ltd (GMM) and other entities across different jurisdictions. In Sept 2020, the U.S. CFTC filed a fraud complaint; the Canadian OSC has accused them of illegal and fraudulent brokerage. In May 2021, OSC settled with David Cartu, who agreed to a seven-year ban and a CAD 300,000 penalty. Now, Ontario's Capital Markets Tribunal ordered Jonathan Cartu and Joshua Cartu to pay CAD 3.3 million.
Read More
Pig Butchering explained on FinTelegramW
Categories
July 23, 2022

Worthwhile Reading: Brian Krebs Explains ‘Pig Butchering’ Investment Scams!

According to security expert Brian Krebs, the term "pig butchering" refers to a heavily scripted and human-intensive process of using fake profiles on dating apps and social media to lure people into investing in elaborate scams. "The fraud is named for the way scammers feed their victims with promises of romance and riches before cutting them off and taking all their money," the U.S. Federal Bureau of Investigation (FBI) warned in April 2022 in a podcast.
Read More
Investor warning against TheCoinTrustI
Categories
July 15, 2022

Investor Warning against TheCoinTrust Broker Scam!

TheCoinTrust broker scam, operated by SPT Media LLC in St. Vincent & The Grenadines, is another brand of the same cybercrime network that also operated the vanished TradeVtec via different offshore entities such as Universal Services LLC and UMedia LLC. In our review on 15 July 2022, no payment option was available for deposits. Thus, we assume that TheCoinTrust broker scam may soon vanish with the clients' money. We would like to learn more about the boiler rooms and the facilitators behind the scam.
Read More
The Israeli Snitching Game around Gery ShalonU
Categories
July 1, 2022

US Boiler Room Operators Sentenced To Years In Prison!

Damian Williams, the United States Attorney for the Southern District of New York, announced that the boiler room operators Christopher Wright and Steven Hooper were sentenced to 52 months in prison and 42 months in prison, respectively, for defrauding elderly victims in connection with the fraudulent sale of stock and fake carbon credits as part of an over $16 million international telemarketing scheme. In total, victims lost over $16 million. Wright and Hooper previously pled guilty before U.S. District Judge Jed S. Rakoff, who imposed the sentences. 
Read More
Maltese Boiler room operator Capital SolutionsT
Categories
June 30, 2022

The Maltese Boiler Room Operator Capital Solutions And Its Vast Broker Network!

Over the last couple of months, FinTelegram published several reports on the Maltese boiler room operator Capital Solutions Ltd. We very quickly received further information from whistleblowers and partners. The Italian Gennaro Lanza is currently the only remaining beneficial owner after his Italian co-founders Massimiliano Moroni, and Italo Mainolfi sold him their shares. Lanza is connected to several offshore brokers such as Dubai FXM, NewFX, or DB Investing. Evidently, he is operating a vast unauthorized financial business in Malta.
Read More
Axi Group with One Financial Markets NewFX and DBFXU
Categories
June 27, 2022

Update! Axi Group & Its Offshore Broker Activities With NewFX, DBFX, And Others!

FinTelegram already issued some reports on Maltese boiler room operator Capital Solutions Ltd, controlled by the Italian Gennaro Lanza, and its related offshore brokers such as NewFX, Dubai FXM, DBFX, or DBinvesting. Recently, we exposed a relationship between these schemes and Axi Group and One Financial Markets. Upon our reports, the access to these offshore for EU residents has been blocked but UK residents can still register and trade with them. In our new review, we found new payment processors and other interesting connections. Here is the update!
Read More
Maltese branch of OneTwoTrade in liquidationV
Categories
June 12, 2022

Victims Alarm! Israeli-Maltese Binary Options Scam Broker OneTwoTrade In Liquidation!

The Maltese company Up & Down Marketing Limited d/b/a OneTwoTrade is accused of scamming hundreds of victims, millions of euros with its binary options fraud scheme has gone into liquidation. The company was voluntarily put into liquidation by its directors. One of its former directors Ivan Grixti (LinkedIn) is a former Malta Labour Party MEP candidate and a lecturer at the Department of Accountancy at the University of Malta. Regulators across the globe warned against the OneTwoTrade scam.
Read More