Fund Recovery | FinTelegram News

Category: Fund Recovery

October 20, 2021

Attention! UK regulator warns against Funds Back fund recovery scheme!

It may be dull, like the flight crew safety briefing. You've seen it a hundred times and don't think you'll use it again. The truth, however, is that safety briefings and warnings can't be done often enough. Fund recovery schemes, in particular, are the meanest scam done often performed by scammers or former scammers. Today, the UK FCA warned against the Israeli Funds Back. It was the fourth warning against a fund recovery scheme over the last few days!

October 18, 2021

Attention! Don’t fall for the Active Refunds fund recovery scam!

Unfortunately, it is a sad truth that the majority of so-called fund recovery providers are either directly operated by scammers or work with dubious methods. We know that many fund recovery providers cooperate closely with scammers and receive victim data from them. This way, the already damaged victims of scams are ripped off once again and for good. The UK FCA has today warned against Active Refunds (www.activrefunds.com) falsely presenting itself as an FCA-regulated company.

October 14, 2021

Attention! FCA warns against the Scams Recovery scheme!

Just recently, we reported about the sad and brutal fund recovery business and the warnings against LegalFCA. Scam victims are desperate and therefore vulnerable to any offer of help, no matter how dubious. However, much more often than you think, the so-called fund recovery experts are just the end of a rip-off chain. Today, the UK Financial Conduct Authority (FCA) has issued a warning against the Scams Recovery scheme (www.scamsrecovery.com and www.scams-recovery.com). Stay far away.

October 13, 2021

Attention! Do not fall for the fund recovery scheme LegalFCA

Fund recovery is a sad and brutal business. Sad because it involves people who have lost their money on the Internet to scammers and are desperate. Brutal because the fund recovery people are exposed to threats and slander of scammers. Unfortunately, among the fund recovery providers, there are many greedy lawyers and even more scammers who take away a lot of money from the victims once again. LegalFCA is one of these scammers that the UK FCA and the Spanish regulator CNMV have warned against.

September 4, 2021

Israeli fund recovery schemes chasing scam victims

Israeli fintech pundits also invented binary options industry. Big players like SpotOption, PandaTS, or Tradologic had thousands of binary options schemes running on their platforms as white-label clients. Binary options turned out to be ultimately a gigantic fraud industry. Conveniently, fund recovery companies have also emerged in Israel, often run by former scammers. Schemes like Europe Refund or MyQuickRefund run massive Google Ad campaigns to acquire scam victims and sell their expensive services.

August 11, 2021

Attention! Cease and desist order against BitMax and warning against fund recovery fraud!

The German regulator ordered Tillga Ltd, registered in the Commonwealth of Dominica, to immediately cease its unauthorized portfolio management activities on its crypto trading platform BitMax a/k/a BitMaxOnline (www.bitmaxonline.com). The regulator found that German customers can open trading accounts on the BitMax platform and use them for trading in cryptos. Employees of the platform make investment decisions for their customers on their own authority. The regulator warned against fund recovery fraud in the BitMax environment.

July 7, 2021

Fund Recovery – An Ombudsman report on PayBack and Money Back

We have already published a review about the Israeli fund recovery service Pay Back a/k/a PayBack a/k/a Money Back owned by Amir Geva and Daniel Poleb. It is no secret that we are very skeptical when fund recovery services ask victims for several thousand euros or dollars down payment and, in addition, profit sharing. In many cases, it would be easier for victims to go directly to the relevant financial ombudsman and reclaim the money from the facilitating bank. This is also confirmed by the following report from a Financial Ombudsman.

May 22, 2021

Victim Attention – Be cautious with Cyprus-Israeli Claim Justice fund recovery services!

On its website, The fund recovery service provider Claim Justice (www-claim-justice.com) claims that the office would be located in Tel Aviv. According to the Terms and Conditions, it is operated by MoneyPay Ltd, United Kingdom, and Bluespirit Tech Holdings Limited, Cyprus. As a director and beneficial owner at MoneyPay Ltd (a/k/a MonPay Ltd), Petros Petropoullaki of Cyprus is registered at UK Companies House. At the Cypriot company, Ukrainian Nadia Vladymyrova is registered as a director.

April 11, 2021

FCA warning against Binary Forex Recovery scam

The FCA has this week issued a warning against the fund recovery scam Binary Forex Recovery (www.binaryforexrecovery.com). On the website, we have not found any information about legal entities or persons running the scam. Addresses in the United Kingdom and the United States are given. Interestingly, the website presents articles about the fraudulent activities of other fund recovery scams such as Wealth Recovery International (WRI) and Austin Smith. The fact is that 9 out of 10 fund recovery offers are unfortunately scams or operated by scammers.

March 8, 2021

FCA warns against fund recovery scams Trader Recovery and Refund Expert

UK FCA issued investor warnings against two suspected fund recovery scams Trader Recovery (www.traderrecovery.co.uk) and National Association of Refund Expert Bureaux (www.refund-expert.org). The former's website is currently down. It is a sad fact that there are more and more fund recovery scams that lure even more money out of already damaged victims of scams by promising them to get their money back. Unfortunately, they are nothing but super-toxic.

January 11, 2021

Investor Alert – Don’t fall for the Scams Rescue fund recovery scheme

In our experience estimated 9 out of 10 fund recovery companies in are either outright boiler room scams or operate unseriously with little transparency and unrealistic promises. Alleged clients of fund recovery venture Scams Rescue. (www.scamsrescue.com) recently left several comments on scam alerts on FinTelegram. They expressed their excitement about Scams Rescue and allegedly got 100% of their money back just days. Seriously now?

Fund Recovery

January 8, 2021

MoneyBack and PayBack – more fund recovery ventures from Tel Aviv

Israeli scammers have expanded their business model globally between 2010 and 2018, spreading their boiler rooms geographically. They defrauded hundreds of thousands of retail investors out of billions of dollars. Now, the center of the global fund recovery business is in Tel Aviv. Like Wealth Recovery International (WRI) of Austin Smith, some of them have turned out to be scams or fraudsters. Others like Action Refund, Money Back, or Pay Back are being under our investigation. Stay alerted and super-cautious. We'll keep you updated!

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.