R4I | FinTelegram News

Category: R4I

March 3, 2021

R4I – Devastating forex and crypto broker scams BitStarMarkets and QuantBitex

BitStarMarkets and QuantBitex, two Forex, CFD, and crypto trading platforms claim to have their office in Zurich. This is a big fat lie. UK numbers are given as phone numbers. Registration for the platforms is by invitation only. From the documents available to us, we can establish that the scams attacked and acquired client-victims in Germany, Austria, Belgium, Sweden, Norway, Netherlands, Switzerland, or United Kingdom. A shocking number of people have fallen for the scams.

February 18, 2021

R4I – The secretive Ukrainian Paythrone focused on complex merchants

The website of the high-risk payment processor Paythrone looks acceptable. Not exactly majestic as the name might suggest, but nice. Other than that, you won't find much on the website. Neither is it stated (or we didn't find it) which legal entities and persons operate the payment facilitator or under which jurisdiction it operates. We have found the payment processor focused on "complex merchants" most recently in the two broker scams Spintop Capital and Optimus Markets. However, we would love to learn more about the mysterious provider.

February 18, 2021

R4I – Estonian crypto payment processor Itez and Databridge

We have already discovered the high-risk payment processor Itez (www.itez.com) in several scams as a facilitator. For example, FXOptex, Optimus Markets, and Spintop Capital have integrated Itez as a payment processor. Itez is operated by DataBridge OÜ, which is licensed in Estonia by the relevant FIU. Maria Neverdinova-Rostovtseva is installed there as Nominee Director (Monkey). Currently, we do not know the beneficial owners of DataBridge. We would like to know more about the payment processor.

February 7, 2021

R4I – Broker scam 27ProQuote closed down but Maltese ApcoPay still there

Many retail investors have lost money via the broker scam 27ProQuote. The attackers behind it are apparently in the process of closing the scam. Currently, the server of 27ProQuote is no longer accessible. We have reports of victims who have lost over €100,000 in some cases. The Maltese ApcoPay operated by Apco Systems Ltd registered in Malta processed the payments. We would like to know more about ApcoPay to expose the scammers and find the victims' funds.

February 5, 2021

R4I – Coriunder, the Israeli-Cyprus Lord of the gateways

Without payment processors knowingly and willingly facilitating scams they wouldn't be possible in the first place. For example, Pradexx, a company with an Estonian crypto license, which we discovered as a PSP in a series of broker scams. Most recently with iTradeFX. In this case, Pradexx connects to the scams through Coriunder, an Israeli payment gateway operator based in Cyprus. This configuration of regulated PSPs and unregulated PayTechs has become standard and is a good way to hide. We'd like to know more about Coriunder.

January 25, 2021

R4I – Cartu Brothers, the GMM binary options fraud, AEGIS Labs, and Kav Sheroot Tech

The Cartu Brothers - David, Jonathan, and Joshua - are very sought after people. They are currently being sued by the U.S. CFTC and Canada's OSC for alleged binary options fraud. The CFTC claims that at least $165M has been stolen from retail investors. The CFTC did not even include all of the Cartu Brothers‘ brands in the complaint. Therefore, it is likely that a multiple of this amount was processed through their GreyMountain Management scheme and other entities. We would like to learn more about AEGIS Labs, Sandbox Media, and Kav Sheroot Tech.

January 7, 2021

R4I – Estonian Crypto Payment Processor Bitxtech

BitxTech is a crypto payment processor and exchange operated by CryptoFactury OÜ, registered and licensed in Estonia. Israeli Or Bar, born in September 1987, is registered as the director. BitxTech has increasingly come to the attention of broker scams in recent months as a supporting payment processor. It is also interesting to note that BitxTech and XchangePro use the same application and identical onboarding processes. They appear to be clones or white label solutions.

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December 23, 2020

R4I – What’s your experience with the Israeli fund recovery venture Action Refund?

Hundreds of binary options, Forex, and CFD scams have robbed hundreds of thousands of investors worldwide of their money since 2010. Therefore, Israeli fund recovery experts we Wealth Recovery International (WRI) of Austin Smith have also emerged. Smith was convicted in the U.S. for investment fraud related to the Yukom binary options scam and his WRI activities. Now there is a new Israeli fund recovery expert, Action Refund Ltd (ARF). We'd like to know more about it.

December 15, 2020

R4I – High-risk payment processor EU Paymentz and its US operator

The U.S. citizen Chris Ortega from Austin, Texas, registered the domain www.eupaymentz.com back in 2015. According to Ortega's LinkedIn profile, he has been the director and owner of the Delaware company EU Paymentz, LLC since January 2020. However, on the payment processor's website, Sofia, Bulgaria, is presented as the registered office address. There Ortega has also registered Bitronum Ltd. He also owns JC Velecom, LCC, another Delaware company with connections to Serbia and Eastern Europe. We would like to learn more.

December 15, 2020

R4I – High-risk payment processor EU Paymentz and its US operator

December 13, 2020

Fired Octapay director calls payment processors scams

FinTelegram has reported about the activities of the high-risk Payment processor Octapay. Insiders presented us with information that, on the one hand, qualified Octapay as a scam and, on the other hand, purported that the same beneficial owners controlled it as iPayTotal. Shortly after our Request 4 Information on December 8, 2020, Octapay Europe CEO Christian van Biezen was fired for an impressive misconduct list. He denies allegations and calls Octopay and iPaytotal scams.

December 11, 2020

Problems at Octapay – European director was fired for alleged misconduct

Troubles at high-risk payment processor Octapay which is allegedly conntected to iPayTotal through Vishal Coodye and its Rashal International LLC. Yesterdy, Octapay announced that its European CEO Christian V. was fired on accusations of an extensive list of serious malicious activities. We would like to learn more about Octapay and its activities.