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March 23, 2023

Breaking: European Court Of Justice Approves German Trial Against Gal Barak

Israeli cybercrime mastermind Gal Barak was sentenced in Vienna in September 2020 to four years imprisonment for investment fraud and money laundering. In 2021, Gal Barak was to be extradited from the Austrian prison to Germany because he was also to be charged there. His lawyer has appealed against this, invoking the principle of ne bis in idem. Today, the Court of Justice of the European Union (CJEU) has ruled that Gal Barak can be charged in Germany.

March 23, 2023

Short Seller Attack On Block: Allegations Of Inflated User Metrics and “Frictionless” Fraud Facilitation!

Block (previouslySquare) is an NYSE-listed $44 billion market cap company established and controlled by Twitter co-founder Jack Dorsey. After a two-year investigation, short-seller Hindenburg Research..

March 23, 2023

Wirecard Legacy: Payabl Versus NomuPay Or How To Grow A Payment Business!

NomuPay, founded and financed by Finch Capital, acquired some companies from the collapsed Wirecard in 2021. Among them also Wirecard Turkey. Payabl was founded in 2011 by Wirecard executives Ruediger Trautmann and Dietmar Knoechelmann and operated as PowerCash21 until 2022. While we see hardly any growth at NomuPay, Payabl, deploying the Wirecard business model with porn, gambling, and online investment merchants, is experiencing explosive growth.

March 22, 2023

Crypto Investment Scheme OASIS Assets Received Orange Compliance Rating!

OASIS Assets is a crypto exchange and investment scheme offering investors various plans for guaranteed returns. For a 120-day investment of GBP 250,000, 45% is promised. The scheme is operated through legal entities in the UK, Australia, Singapore, and Switzerland. The scheme does not appear to have a license to offer financial products. There is no scam alert on OASIS Assets, but we have given the scheme a Red Compliance rating. Be cautious accordingly.

March 21, 2023

Attention: Offshore Broker Alchemy Group

Last year, the Spanish watchdog CNMV warned against the offshore broker Alchemy Markets, part of the Alchemy Group, including the Vanuatu-based FXPIG and the FCA-regulated Alchemy Prime. This global broker scheme uses the same brand and trading style across domains and websites, potentially or intentionally misleading customers. We have done a new review and assigned an "Orange Compliance" rating to the Alchemy Group. Here is our updated review.

March 20, 2023

Time To Get Angry: ING’s ESG Committee Received Open Letter For Failing To Compensate Victims!

Currently, the global banking landscape is in a state of shock. First, the collapse of Silicon Valley Bank and Signature Bank in the U.S. followed UBS's incredible bail-out deal for Credit Suisse. Things are bad for banks. So perhaps it's not quite so striking that ING of the Netherlands can't solve its problems with Payvision, which it bought. Thousands of victims have lost their money via Payvision. The European Fund Recovery Initiative (EFRI) has written an open letter to ING's ESG committee.

March 20, 2023

Rotten Legacy Deal: UBS Announced Take-Over Of Failed Credit Suisse!

UBS announced that it plans to acquire Credit Suisse to create a business with more than USD 5 trillion in total invested assets and sustainable value opportunities. It will create a leading Swiss-based global wealth manager with more than USD 3.4 trillion in invested assets combined. UBS will pay 3 billion Swiss francs ($3.23 billion) for 167-year-old Credit Suisse and assume up to $5.4 billion in losses in a deal backed by a massive Swiss guarantee and expected to close by the end of 2023.

March 19, 2023

Broken Banks! UBS Agrees To Takeover Struggling Credit Suisse In A Dirty All-Share Deal!

A few minutes ago, Bloomberg announced that UBS is buying troubled rival Credit Suisse for the equivalent of $2 billion in a deal brokered by the Swiss government. The transaction is probably rightly being called hístorical. The Credit Suisse crisis has nothing to do with crypto like the U.S. collapsed Silicon Valley Bank or Signature Bank. Credit Suisse perfectly represents the broken traditional banking system.

March 19, 2023

Bank Crisis! The Credit Suisse Bail-Out Plans Allegedly Announced Later Today!

While the crypto sector has seen a view strong days, the legacy banking system is still fighting a global bank crisis. In Switzerland, banks, authorities, and government officials are under intense time pressure to discuss the rescue of the struggling Credit Suisse. All sides want UBS to takeover Credit Suisse before the stock exchanges open on Monday. Credit Suisse has allegedly rejected an offer from UBS and may be nationalized.

March 19, 2023

Binary Options Fraud Scheme Greymountain Management And The Irish Court Order!

The binary options scheme GreyMountain Management (GMM), run by the Cartu Brothers was probably one of the world's largest binary options fraud schemes between 2014 and 2017. According to various estimates, they received between €150 to 250 million from investors. The Irish High Court found that the Canadian-Israeli brothers David Cartu and Jonathan Cartu were shadow directors of the Irish GMM and actually ran the Irish company and the GMM fraud scheme. They are liable for investor losses.

March 19, 2023

The Pornhub Acquisition: Just A Fake Transaction To Escape Public Scrutiny?

MindGeek, the Luxembourg-based operator of several porn sites, including Pornhub, Brazzers, and Redtube, was acquired by Canadian private equity firm Ethical Capital Partners (ECP). The financial terms of the deal were not disclosed. MindGeek has been a giant in the online porn industry since. In June 2022, Visa stopped working with the company after lawsuits and public criticism. On Twitter, it is claimed that the purchase of MindGeek was just a fake. Here is a short report.

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.