Category: Boiler Rooms
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The Next Indictment In the E&G Bulgaria Cybercrime Case With Payvision!
The E&G Bulgaria Cybercrime Scheme is dealt with by German prosecutor Nino Goldbeck in Bamberg. The German prosecutor informed that the boiler room agent Sasa Siler has also been charged for allegedly defrauding German-speaking victims with OptionStarsGlobal, XTraderFX, or Trade Capital. The mastermind behind E&G Bulgaria was the Israeli Gal Barak with his wife Marina Barak and their partners Gery Shalon and Vladislav Smirnov.
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Exposed: MonetizeAd in Sarajevo and Belgrade Allegedly Runs Fraudulent Bitcoin Campaigns!
For about two years now, Bitcoin scam campaigns Bitcoin Up, Bitcoin System, Bitcoin Profit and many more have been used to constantly chase new victims for broker scams. These sites are operated by special digital marketing agencies through affiliate systems. For this, these agencies receive commissions from the victims' deposits. Mostly these agencies remain in the darkness of the internet. Whistleblowers have brought to our attention MonetizeAd in Sarajevo, which runs some of these scam campaigns. We would like to know more.
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Yukom Case – another Israeli sentenced to 36 months prison time!
Yukom Communications was the Israeli boiler room operator behind vast binary options scams BigOption, BinaryBook, or BinaryOnline and caused retail investors worldwide $150M losses. Elad Bigelman was the brand manager for BigOption. On March 14, 2022, Judge Paula Xinis handed a prison term of 36 months and three years of supervised release to Bigelman. It was the latest decision in the still-pending Yukom Case
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Veltyco Cybercrime Trials started today in Germany
In Germany, the cybercrime trials against the so-called Veltyco Cybercrime Scheme started. The scheme's alleged mastermind, Uwe Lenhoff, died in prison in July 2020. Cause of death unknown. Some of his lieutenants and co-conspirators have to stand trial nevertheless. According to the prosecutors, they allegedly cheated more than 1,100 German investors out of almost €42 million. The trial started with the 29-year-old Kosovo guy Azem Spahiu. He and his friend Betim Tasholli have been operating boiler rooms for the cybercrime scheme in Kosovo.
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Attention! Do not fall for OnspotBNK facilitated by BridgerPay and CoinDeck!
OnspotBNK is an offshore broker and a scam. OnspotBNK Limited, allegedly regulated by VFSC, would be the operator. However, we have found neither the license number nor the company in the register of the VFSC. Instead, we found that the DubaiFXM and DBFX broker schemes also operated with these license details. The same perpetrators are behind these schemes and many more. Once again, BridgerPay and Jubiter a/k/a CoindDeck came to our attention as payment processors. Stay very far away and protect your money.
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Next indictment! Former boiler room agent Benjamin Goldblueth has to stand trial!
Germany: Bamberg's public prosecutor has filed charges against former boiler room agent Benjamin Goldblueth. He is accused of having defrauded and damaged numerous investors from 2016 to July 2021 for various broker scams in conscious and deliberate cooperation with various accomplices in German-speaking countries. He has approached victims under different stage names such as Johan Roberts, Lennhard Herrhausen, Michael Mentzer, or Thomas Braun.
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Belgrade will prosecute a Gal Barak boiler room agent, or so they say!
Serbian Rada Tanackovic was one of Gal Barak's Serbian boiler room agents. According to the findings of the prosecutor's office in Bamberg, Germany, she worked for the broker scam XtraderFX with the stage name Nicole Becker and defrauded clients. The German prosecutor's office issued an arrest warrant for her in January 2020. However, she could not be arrested. Serbian authorities questioned her in August 2020 and want to pursue the investigation in Serbia.
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Post-X-Mas! GS4Trade boiler room agents still chase victims!
We warned again about the vanished GS4Trade broker scam several times. The website has since disappeared with the money of numerous victims. In principle but the boiler rooms are still active. The GS4Trade scam has left a wide trail of blood in Europe. Authorities are searching for those behind it. A boiler room agent with the stage name Robin Leo Nicholas is still contacting victims asking them for money for the next scam. Please do not fall for these boiler room perpetrators.
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Breaking News: German law enforcement arrests two former boiler room managers
German law enforcement agents in Cologne have been investigating boiler room operator Rodeler DE GmbH, which operated CySEC-regulated broker 24option, since at least 2018. In this regard, law enforcement actions had already taken place in Israel in August 2021. Among other things, Israeli law enforcement agents raided offices of PandaTS and seized extensive data. On December 21, 2021, law enforcement announced that two former managers of the German boiler room were arrested.
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Alert! FCA warns against social media boiler room operator Les Loups
It is well known that scammers use social media (SM) like Facebook, Instagram, or Twitter to attack the new generation of investors and acquire affiliates. In addition, instant messenger services such as WhatsApp or Telegram are increasingly used as virtual boiler rooms to lure in and defraud online investors. Regulators have also recognized this. The UK FCA issued a warning against SM boiler room operator Les Loups d/b/a TradWise a/k/a The Tipster (@iam_thetipster). Here are our findings.
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Surprise, surprise! Notorious Serbian boiler room operator Parogan in liquidation!
The boiler room scene in Belgrade, the so-called Manhattan of the Balkans, is still vibrant. One of the largest and most notorious boiler room operators is Parogan DOO (www.parogan.com), owned by the Cyprus citizen Nikos Andreou, and managed by the former lawyer and Serbian citizen Max-Sebastian Winterfeldt. Nikos Andreou is also the only shareholder of Olympus Prime DOO, another boiler room operator in Belgrade. While the latter is still active, Parogan DOO is in liquidation.