Money Laundering | FinTelegram News

Category: Money Laundering

October 11, 2020

Lessons from BitMEX Case – Arrests, warrants, and bribing regulators with coconuts

The U.S. Prosecutors charge the BitMex founders Arthur Hayes, Benjamin Delo, Samuel Reed along with the senior manager Gregory Dwyer with (a) violating the Bank Secrecy Act and (b) conspiring to violate the Bank Secrecy Act, by willfully failing to establish, implement, and maintain an anti-money laundering (“AML”) program at the crypto exchange or BitMEX. The charges each carry a maximum penalty of five years in prison.

October 7, 2020

More news from Danish scam facilitator KBH Andelskasse

The extent of the two scandals surrounding the Georgian-Ukrainian-Israeli scam broker network of the Milton Group on the one hand and the money laundering of the Danish KBH Andelskasse on the other hand is involving exponentially. Authorities from Spain via Denmark to Ukraine are currently conducting intensive investigations. Whistleblowers and victims have provided us with bank details to trace the scammers. As the victim cases of the Milton Group scams, FXPrime and InvestingPro expose.

September 25, 2020

Vienna Cybercrime Trials connected to JP Morgan hack and U.S. Indictment

Georgian-born Israeli Gery Shalon is the son of former Georgian MP and entrepreneur Shota Shalelashvili and the alleged mastermind in the largest financial hack in U.S. history (read DoJ press release). He was arrested in Israel in July 2015 and extradited to the U.S. There he stands in a kind of house arrest, waits for his trial, and is said to help U.S. authorities in their fight against Russia in a bid for leniency.

September 25, 2020

Vienna Cybercrime Trials – Following the Money to former Vienna Stock Exchange CEO

The Israeli Gal Barak was sentenced to four years in prison in the Vienna Cybercrime Trials ("#VCT"). The court ordered that the seized funds and assets be used for restitution payments to the victims. Currently, this is a few million and thus only a fraction of the stolen funds. Millions of the Gal Barak's scams were processed via the Austrian-Ukraine payment processor Fondy, which is controlled by the former head of the Vienna Stock Exchange Stefan Zapotocky.

September 25, 2020

CySEC Tourism – More scams and victims of Maxigrid’s BitandBuy fraud facilitator identified

Sometime in April 2020, the discussion with Maxigrid started. A customer lost several hundred thousand Euros via the broker Scam RoyalsFX. He had made the deposits on the instructions of RoyalsFX via the BitandBuy crypto platform of the CySEC-regulated Maxigrid. He lost everything and involved FinTelegram in the complaint and shortly afterward BitandBuy disappeared without a trace. However, more scams and victims appeared after our Request 4 Information in June 2020.

September 24, 2020

FinCEN Leaks meet Vienna Cybercrime Trials

FinCEN Leaks are currently a big topic in the financial industry. The analysis of the approximately 2,500 Suspicious Activity Reports (SARs) leaked FinCEN documents demonstrates what FinTelegram has been stretching out for years now - money-laundering is still not really taken seriously by financial institutions. The FinCEN Leaks also have a direct connection to the Vienna Cybercrime Trials and the collapsed Austrian Meinl Bank.

September 20, 2020

The story of Kai Petersen, a German-Israeli fraud scheme and Grenke Bank

Kai Christian Petersen, who lives in Düsseldorf, Germany, was a major player in the binary options and forex fraud industry between 2014 and 2020, directly or indirectly controlling a number of companies through which scams and boiler rooms were operated and tens of thousands of retail investors were defrauded of hundreds of millions of Euros. The SEC claims that with the three scams, Bloomberg Options, Morton Finance, and Starling Capital, Petersen and his accomplices ripped off $100 million. And these were only three of many other scams.

September 20, 2020

Austrian FMA warns against PumaTS scam broker Blackstone500

The Austrian FMA warns against Blackstone500 (www.blackstone500.com). It’s about time for law enforcement agencies in various EU jurisdictions to take action. In any case, the Leverate Financial Services Ltd which is regulated in Cyprus by CySEC should be approached to identify the beneficial owners and individuals behind PumaTS. The latter is a white label broker platform provider as well as a partner and client of Leverate and operates a vast scam broker network.

September 18, 2020

Grenke Case – The Vienna Connections of an alleged fraud scheme

A few days ago Fraser Perring and his Viceroy exposed the alleged fraud surrounding Wolfgang Grenke's listed German company GRENKE AG. One of the central accusations is that the GRENKE AG is said to have continuously taken over companies that were previously founded by Wolfgang Grenke and/or associated persons and companies. These takeovers by the listed GRENKE AG would therefore have been transactions with affiliated and/or related companies and indivuduals.

September 16, 2020

Viceroy Report exposes German Grenke as the next Wirecard-like fraud case

Delaware registered Viceroy Research has once again published an obviously explosive analysis. The group around Fraser Perring is specialized in investigative financial research and was among the first to point out the irregularities in the German Wirecard scandal. Now Viceroy is revealing the irregularities at Grenke, a public-listed German financial services provider. The companies share price has collapsed as a result.

September 13, 2020

Bruc Bond and the crumbling Israeli FinTech empire

The two Israeli FinTech entrepreneurs Eyal Nachum and Tamir Zolovsky are not having a good time right now. Amidst the COVID-19 pandemic, their two licensed EU e-Money Institutions Bruc Bond and International Fintech saw their licenses terminated. In the case of Bruc Bond because of systematic compliance violations and problems with money laundering. Nachum, Zoltovsky. and their various payment processors have a long track record in the scam area.

September 9, 2020

#VCT – Gal Barak sentencing effective, millions for victims, and an explanation

On September 1, 2020, at the Vienna Cybercrime Trials, the court found the accused Israeli Gal Barak guilty of (cyber) investment fraud and money laundering and sentenced him to four years in prison. In addition, the victims were granted the funds confiscated by the authorities. Law enforcement has been able to track and seize these funds thanks to a FinTelegram whistleblower. After Gal Barak, his wife Marina Barak has also been served with an indictment.