Law Enforcement | FinTelegram News

Category: Law Enforcement

March 23, 2023

Montenegro Interior Minister Announced Arrest Of Terra-Luna Founder Do Kwon!

Do Kwon, the co-founder of the failed TerraUSD stablecoin, has been arrested in Montenegro after months of hiding, Montenegro Interior Minister Filip Adzic said on Twitter. The suspect was detained in the airport of the country’s capital of Podgorica with false documents. In September, South Korean authorities issued a warrant for Kwon’s arrest in September. The U.S. Justice Department is investigating the collapse of TerraUSD, WSJ reports.

March 16, 2023

International Law Enforcement Action Cracked Down The World’s Largest Crypto Laundromat!

German and US authorities, supported by Europol, seized Bitcoins worth around $46 million in a coordinated international law enforcement action, which took down ChipMixer, a darknet cryptocurrency “mixing” service responsible for laundering more than $3 billion worth of cryptocurrency since 2017. The service laundered the money from illicit activities, including ransomware, darknet markets, fraud, cryptocurrency heists, and other hacking schemes.

March 16, 2023

Think Big: Exiled Chinese Arrested In The U.S. On Charges Of A $1 Billion Million Fraud Scheme!

The U.S. Department of Justice (DOJ) announced the arrest of HO WAN KWOK, a/k/a “Miles Guo,” a/k/a “Miles Kwok,” a/k/a “Guo Wengui,” a/k/a “Brother Seven,” a/k/a “The Principal,” and KIN MING JE, a/k/a “William Je,” on charges of a twelve-count Indictment, including securities fraud, bank fraud, and money laundering. KWOK and JE allegedly ran an $1 Billion investment fraud scheme between 2018 and 2023. The U.S. SEC also announced charges against the exiled Chinese.

March 11, 2023

Blind Eye Approach: ING Disclosed Criminal Investigations Against Its Subsidiary Payvision!

It is no longer news to FinTelegram readers that Dutch law enforcement authorities are investigating Payvision for money laundering and violations of financial laws following a complaint filed by the financial markets authority. Now Bloomberg Law has also carried a report on the matter. According to insiders, the criminal case surrounding ING's disgraced fintech subsidiary Payvision is unlikely to be dropped. On the contrary! Payvision may be called ING's biggest disgrace ever.

March 9, 2023

Breaking: Deutsche Handelsbank Fined With €1 Million For Money Laundering Issues!

Deutsche Handelsbank has been the subject of our reports concerning scam facilitation and money laundering several times in recent years. The European Fund Recovery Initiative (EFRI) filed money laundering charges against Deutsche Handelsbank in 2020. Now the investigation by the German prosecutor's office has been ended. A penalty notice was issued, and the bank was ordered to pay a fine of €1 million. Although it is a high fine for such a small bank, EFRI principal Elfriede Sixt is not yet satisfied!

March 6, 2023

It’s About Time: Binance Launches Anti-Scam Campaign In Cooperation With Law Enforcement!

It is no secret that scammers intensively use crypto exchanges. Binance Pay is one of their favorite payment options. According to a blog post, the world's largest and most disputed crypto exchange, Binance, is launching a campaign to prevent scams by issuing targeted alerts to potential victims. The so-called Joint Anti-Scam Campaign project was rolled out first in Hong Kong, and the company intends to expand it into other jurisdictions.

March 1, 2023

U.S. Prosecutors And Regulators Charge FTX Executive With Fraud!

Nishad Singh, 27, co-founder of collapsed crypto exchange FTX and close confident to founder Sam Bankman-Fried (SBF) pleaded guilty to six criminal counts, including conspiring to commit securities and commodities fraud. Moreover, the U.S. regulators SEC and CFTC announced fraud complaints against Singh. The FTX scheme was founded by Singh along with Samuel Bankman-Fried (SBF) and Gary Wang. U.S. Prosecutors allege that SBF stole billions of dollars of FTX customer funds.

February 18, 2023

German Indictment Against Binary Options Fraud Scheme Operators Behind GetFinancial Et Al!

The Public Prosecution Office in Bavaria, Germany, brought charges against the operators of fraudulent binary options platforms, including GetFinancial. Israeli nationals aged 34, 34, and 62 must answer in proceedings, the prosecutors informed. The GetFinancial scheme was launched in 2015 with a boiler room in Israel. Additional boiler rooms have been set up in Georgia, Moldova, and Armenia in subsequent years. Tens of thousands of victims in Germany and many more in other jurisdictions lost their money.

February 17, 2023

U.S. SEC Files Fraud Complaint Against Terra-Luna Scheme And Its CEO Do Kwon!

In Q2 2022, the TerraUSD (USDT) stablecoin collapsed with an estimated $60 billion wipeout, shaking the global digital currency market. The USDT crash marked the begin of Crypto Winter with the collapse of other major crypto schemes. The U.S. Securities and Exchange Commission (SEC) charged Singapore-based Terraform Labs PTE Ltd and Do Kwon with orchestrating a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.

Law Enforcement

January 23, 2023

Fake Warning: Do Not Fall For The International Authority of Financial Investigation!

In recent days, likely thousands of consumers have received emails from a Hans Wagner, Operating Officer at the International Authority of Financial Investigation (IAFI). These..

January 19, 2023

Former Israeli Executive In Gal Barak’s Cybercrime Organization Arrested In Cyprus!

The news is actually not really new anymore. The Israeli Chen Ganon was arrested in Cyprus a few weeks ago at the request of the German public prosecutor's office. Ganon was one of the managers in Gal Barak's cybercrime organization. He was responsible for the broker scam SafeMarkets and has worked in the boiler rooms in Serbia and Bosnia-Herzegovina. We spoke with Ganon several times in 2018, and he confirmed the allegations against Gal Barak and E&G Bulgaria.

January 13, 2023

Europol Announced Action Day Against Boiler Room Operators Ib Bulgaria, Serbia, And Cyprus!

Law enforcement agents from Bulgaria, Cyprus, Germany, and Serbia, supported by Europol and Eurojust, have teamed up against organized crime groups involved in online investment fraud. This criminal network, comprising several different criminal actors operating through boiler rooms, lured victims into investing large amounts of money into fake cryptocurrency schemes. Europol set up an Operational Task Force to support the cross-border investigation.