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May 11, 2020

Wirecard or why compliance is important

Following the KPMG special audit report that uncovered substantial issues with the company's compliance procedures, the DAX-listed German FinTech Wirecard has announced to create a dedicated compliance department to monitor compliance with laws and regulations. The department is becoming a board department, which emphasises the importance of the issue.

May 10, 2020

Binary Options Legacy – Canadian Regulator OSC charges David Cartu and his brothers

The Canadian regulator Ontario Securities Commission (OSC) has filed civil charges against the three Canadian-Israeli brothers David Cartu, Jonathan Cartu, and Joshua Cartu for illegally soliciting Canadians to trade binary options, defrauding Ontario residents out of $1.4 million, part of a $233 million global scheme. According to the report, the Cartu brothers immigrated to Israel from Ontario in the last decade.

May 9, 2020

GMM Case – Canadian regulator OSC charges Cartu Brothers of running an illegal $233 million binary options scheme

FinTelegram has reported since 2018 about the huge Binary Options Scam of the three Cartu brothers David Cartu, Jonathan Cartu, and Joshua Cartu. Over the course of the last two years, we have received numerous requests from victims and their lawyers as well as from regulators. In this regard, we have been happy to provide the information available to us and have, among other things, facilitated lawsuits in Israel. Now the Canadian Ontario Securities Commission (OSC) has claimed that their GreyMountain Management binary options schemes received more than 233 million Canadian dollars from clients worldwide.

November 22, 2019

OneCoin US-Lawyer Mark Scott found guilty of money laundering and bank fraud

The Florida-based US lawyer Mark S. Scott, 51, has been found guilty for his role in the OneCoin crypto scam, which raised more than $4 billion from investors convinced they were buying into a new digital currency. The New York jury found that Mark S. Scott helped to perpetrate the crypto scheme, routing approximately $400m out of the US while working to conceal the true ownership and source of the funds.

November 12, 2019

Founder of crypto startup Komodore64 arrested by Dutch police

According to reports of internet news portals CoinTelegram and Sprout, the Dutch police have arrested the founder of blockchain game development startup Komodore64. The crypto..

November 11, 2019

U.S. Prosecutors charges 15 more perpetrators in the $140 mio Yukom binary options fraud scheme

Fifteen individuals, including two former company owners, were charged in a superseding indictment unsealed on Nov 8, 2019, the U.S. Department of Justice announced. They..

October 17, 2019

CFTC filed enforcement action against binary options and crypto scheme Circle Society and its operators

The U.S. Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action charging David Gilbert Saffron of Las Vegas, Nevada, and Circle..

October 11, 2019

SEC charges binary options perpetrators behind LBinary and Ivory Option with investment fraud

On October 9, 2019, the U.S. Securities and Exchange Commission (SEC) charged the two Israeli binary options perpetrators Anton Senderov and Lior Babazara a/k/a Lior..

October 9, 2019

Yukom Case – Court denies request for release of convicted binary options CEO Lee Elbaz

On August 7, 2019, a U.S. jury found Lee Elbaz, the former CEO of binary options operator Yukum, guilty of investment fraud. The Court ordered..

October 9, 2019

U.S. Regulator CFTC goes against binary options affiliates for investment fraud

Following the U.S. regulatory authority SEC, the CFTC is now also taking action against the two affiliates that have advertised fraudulent binary options schemes. According..

September 28, 2019

U.S. Regulator SEC charges affiliate marketing operators with binary options fraud

Broker Scams don’t just work with boiler rooms to rip off investors. To this end, they also work with affiliate marketing systems to drive the..

September 25, 2019

The War of Scammers – Binary Options perpetrators’ self-destructing fight after the collapse of the Israeli fraud industry

The Israeli journalist Simona Weinglass has made the worldwide public aware of the gigantic Israeli fraud industry of binary options with her article series “The..

Urgent Warning: Beware of Suki Chen and the Streakk/Earn World Crypto MLM Schemes!

FinTelegram’s investigations, alongside whistleblower reports, reveal that Suki Chen (aka Sukijami Chendrawan) is the alleged founder of Streakk and successor scheme Earn.World. Both schemes are suspected to be pyramid or snowball schemes (MLM schemes) that have been promoting their own STKK token. These operations have been flagged as fraudulent and are under scrutiny for securities fraud and Ponzi-like activities.

Financial Intelligence Report: The Disappearance of Magua Pay and Black Rabbit – A High-Risk Payment Processor in the Scam Broker Ecosystem

Magua Pay Inc., a Vancouver-based money services business (MSB license M21111044) operating under the brand Black Rabbit, has vanished from the digital landscape as of March 2025. Both its primary website (magua_pay.com) and Black Rabbit’s site are either under construction or offline, signaling potential operational collapse or regulatory pressure. FinTelegram exposed Magua Pay as a payment facilitator of broker scams and unauthorized broker schemes,

Investor Briefing: SilverArrows Group and its Expanding Network

SilverArrows Capital Group, a global investment and advisory firm associated with high-profile figures such as Thomas Limberger, Robert Schimanko, and William H. Shawn, has recently come under scrutiny due to its proximity to the scandalous bankruptcy of Rene Benko’s Signa Group. The firm and its key personnel maintain strong ties to two seemingly influential yet opaque organizations in Germany and Austria.

Breaking: The World Economic Council (WEC), Rene Benko, and Israeli Services!

The collapse of the once-largest European real estate development group SIGNA of the Austrian Rene Benko continues to reveal new layers of intrigue, financial entanglements, and power struggles. While some focus on the billions lost by high-profile investors, the investigative platform Wiener Zocker has now uncovered a particularly exclusive network that has continued to thrive in Benko’s shadow – the World Economic Council (WEC).

Crypto investments

Investor Briefing: Binance’s $2 Billion Investment from MGX and Trump Family Rumors!

On March 12, 2025, Binance, the world’s largest crypto exchange by trading volume, announced a landmark $2 billion investment from Abu Dhabi-based MGX, marking its first institutional funding in its eight-year history. This transaction, executed entirely in an unspecified stablecoin, represents the largest single investment in a crypto company to date and signals a significant shift toward institutional adoption of digital assets.