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Category: Black Banx

July 12, 2020

German FinTech Turf -Michael Gastauer and Black Banx

Until recently, Germany had a good reputation in the financial sector although its banking industry has significant structural problems. All the more reason to be proud of Wirecard. The DAX-listed German fintech managed by the two Austrians Markus Braun and Jan Marsalek seemed to be the superstar in the booming market of next-generation payment processors. Until it collapsed. But there are several dubious German fintechs and payment processors that are active in the worldwide cybercrime scene. Michael Gastauer and his group of companies should be mentioned here.

January 24, 2020

The Black Banx Story – From securities manipulation scheme via OneCoin to Quadriga crypto collapse

On January 13, 2020, the U.S. Department of Justice announced that the British citizen Roger "Rocket" Knox, 49, founder and operator of Swiss asset management firm Wintercap pleaded guilty to securities fraud and conspiracy to commit securities fraud. His co-conspirators Matthew Ledvina, Milan Patel and Morrie Tobin have also pleaded guilty and await sentencing. According to the U.S. regulator SEC, Knox's scheme used Michael Gastauer's Black Banx (previosly "WB21") group of companies to launder the scheme's illicit proceeds. Knox was arrested in October 2018 and remains in custody until the scheduled sentencing the court ordered.

January 16, 2020

Michael Gastauer and Black Banx – The fictional story about a would-be Mogul and FinTech Guru

The German investor, philanthropist and FinTech entrepreneur Michael Gastauer is certainly not a humble person. On the contrary! He is a man of superlatives in every respect. As was the famous (fictitious) Baron Münchhausen also known as the German "Baron of lies". We are not claiming now that Gastauer would definitely be a "lie baron" but there are indications that could lead to this conclusion. Here his story.

TikTok Takedown: America’s Digital Iron Curtain or Silicon Valley’s Secret Weapon?

The recent ruling by the U.S. Court of Appeals for the District of Columbia Circuit has sent shockwaves through the social media industry, upholding a law that could effectively ban TikTok in the U.S. The ruling cited national security concerns. This decision marks a significant escalation in the ongoing tension between the U.S. government and Chinese-owned tech companies.

Truong My Lan: A Tycoon’s Fall from Grace and Vietnam’s $44 Billion Financial Scandal!

The dramatic downfall of Truong My Lan, one of Vietnam’s most prominent property magnates, has sent shockwaves through the country's financial and political systems. The 68-year-old former billionaire is at the center of one of the largest financial frauds in history, a scandal that has not only exposed vulnerabilities in Vietnam’s economy but has also highlighted the intricate relationship between business and politics in the country.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.