EFRI | FinTelegram News

Category: EFRI

May 5, 2021

Whistleblower proves! StoxMarket boiler room scam is active again!

FinTelegram News was founded in early 2018 with the mission of investor protection. Since then, we have faced numerous threats, DDoS attacks, and also lawsuits. We have survived everything so far and defeated some of the bad players. Some companies have lost their licenses, and some scammers have been sentenced to prison and fined millions for investment fraud. All this would not have been possible without whistleblowers. They are the heart of our project. Now a whistleblower has proven that the StoxMarket scam is indeed alive.

May 1, 2021

Breaking News – Criminal complaints against Payvision and its founders

Payvision and its founder and former CEO Rudolf Booker are already subjects of the criminal proceedings in Germany and Austria. Uwe Lenhoff, the alleged mastermind of a cybercrime organization, was arrested in January 2019. He was a personal friend of Booker and used Payvision for his dirty business. Rudolf Booker was introduced to Lenhoff by Amsterdam real estate investor Dirk-Jan Bakker, a partner of Lenhoff, who was found dead in his prison cell in July 2020. Criminal charges have now been filed against Payvision and its founders for money laundering and investment fraud.

April 16, 2021

Bet90 Holdings – Surviving its vast cybercrime legacy?

In 2016, Uwe Lenhoff, the alleged German head of a global cybercrime organization, celebrated the IPO of Veltyco Group PLC in London together with his partner, Amsterdam real estate investor Dirk-Jan Bakker. Veltyco was to become the cybercrime organization's white flagship and be used for money laundering. In January 2019, Lenhoff was arrested. In July 2020, he was found dead in his prison cell in Germany. Cause of death unknown. Consequently, Veltyco was renamed Bet90 Holdings and has now repositioned itself.

February 11, 2021

EFRI Class Action – Fund recovery claims against collapsed KBH Andelskasse and its owners

The international shadow banking system around the collapsed Danish Kobenhavn Andelskasse (a/k/a KBH Andelskasse) dominated by Jesper Bak and Wael Almarree was one of the worst payment facilitators for (legal and illegal) gambling and scams between 2016 and 2018. Also involved during this time were Danish FinTech Clearhaus and FCA-regulated Moorwand (formerly UPayCard). The European Fund Recovery Initiative (EFRI) filed the fund recovery claims with the Danish FSA and filed a criminal complaint with the Danish prosecutor's office.

February 5, 2021

Fund Recovery – Paytah Class Action Campaign

Scam-facilitating payment processors are co-conspirators. Paytah, regulated in Malta by the MFSA, is one of these payment processors. Paytah accepted scam customers and processed their payments. Many victims of Paytah customers lost a lot of money via the payment processor's clients. The former Chief Compliance Officer has filed a complaint with the authorities because of alleged AML/KYC violations.

February 2, 2021

Paytah Case – Former MLRO testifies that the payment processor was involved in shabby business

Public court documents suggest that high-risk payment processor Paytah, operated by Malta-based and MFSA-regulated Phoenix Payments Ltd, was into shabby business. Marco Lavanna, the company's beneficial owner and director, dismissed the former Money-Laundering Reporting Officer (MLRO) and compliance officer who raised serious issues with the company’s management. The dismissed MLRO has now sued her former employer on the grounds of unfair dismissal and, under oath, reveals the payment processor's incompliant business approach.

January 27, 2021

Good news for Payvision – Selina welcomes the disgraced payment processor

The Dutch high-risk payment processor Payvision is deeply involved in the swamp of broker scams around the Vienna Cybercrime Trials. It allegedly wilfully and knowingly facilitated broker fraud and money laundering. The presumption of innocence applies. Today's announcement of a partnership with the global hospitality platform Selina has to be appreciated. The idea is to provide Selina clients with ultimate payment experiences while traveling. Not an easy business model in the COVID-19 pandemic but hello, positive news though.

January 21, 2021

Wanted for funds – Maltese payment processor Paytah in legal troubles

Paytah is operated by Phoenix Payments Ltd, a company registered in Malta and regulated by MFSA. As reported by FinTelegram, PayTah has facilitated vast broker scams, including LincolnFX, RoyalsFX, CodexFX between 2019 and 2020. Victims of these scams have provided the European Fund Recovery Initiative (EFRI) with the Power of Attorney to recover their funds. Via its Maltese lawyer EFRI has taken actions to recover the victims' funds from Paytah. Currently, the Maltese connection is chasing after the Paytah people.

January 17, 2021

Payvision and Vienna Cybercrime Trials – Let’s scam the scammers and the EFRI Campaign

Oh yes, the alleged German cybercrime mastermind Uwe Lenhoff was a very good acquaintance of Payvision founder and CEO Rudolf Booker. They spent skiing vacations together in Austria and communicated a lot. Thanks to the frequent and very open communication between Lenhoff and Booker, their business details can be found in the criminal files. They show how high-risk payment processors work.

January 12, 2021

Scam-facilitating Maltese payment processor PayTah refused to recognize its legal responsibility

Recently, we reported that the high-risk payment processor Phoenix Payments Ltd d/b/a Paytah (www.paytah.com), like Maxigrid in Cyprus, has been helping large broker scams like RoyalsFX, LincolnFX, or CodeFX to defraud consumers and retail investors with their payment services. Paytah is to be held liable for this but has so far refused to accept its responsibility for intentionally or grossly negligently supporting the scams and refuses to provide any assistance to the victims.

EFRI

November 18, 2020

Victims Alert – EFRI Fake scammers aggressively attack scam victims

FinTelegram is the co-founder of EFRI which is currently working closely with law enforcement in various jurisdictions to obtain restitution payments for the victims it represents. In recent weeks, however, victims have been attacked via e-mails and phone calls from alleged EFRI employees. They are offering scam victims to recover their funds on a fee basis. Victims receive fake EFRI invoices and are asked to pay for their purported services via Bitcoin (BTC).

November 11, 2020

FinTech Payvision – Is it really the Dutch Wirecard mini-me?

EFRI was founded in 2018 by FinTelegram together with auditors, lawyers, and victims of scams. The NGO initiated a mass movement with more than 1,000 registered victims and members. EFRI represents the interests of victims towards scammers and their facilitators. The Dutch FinTech Payvision was one of them. EFRI even goes so far as to call Payvision the Wirecard of the Netherlands.