Maxigrid Case – GlobalNetint allegedly terminated bank accounts

Maxigrid Network and broker scams
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Maxigrid Ltd of the Israeli FinTech entrepreneur Roy Almagor is a CySEC-regulated investment firm. Despite the regulation, Maxigrid has supported scams like RoyalsFX or LincolnFX as a payment processor according to the information available to us. Payments from client-victims of the scams were made via the Lithuanian GlobalNetint (GNI), among others. Allegedy, GNI terminated the bank accounts of Maxigrid, Roy Almagor, and related entities.

The termination of the accounts is said to affect not only Maxigrid Ltd and Roy Almagor, but also his offshore companies Ministro Ltd and Pallino Ltd. We have received information from a reliable source that the Bank of Lithuania has until recently conducted an audit of GNI. However, the report is not yet available and the nervousness at GNI is said to be accordingly high.

In April 2020, Bruc Bond (formerly Moneta International) of the Israeli FinTech entrepreneurs Eyal Nachum and Tamir Zoltovsky lost its license due to serious and systematic violations of regulatory requirements and problems with money laundering. Shortly thereafter, the two renounced the license of their International Fintech and intend to wind up the entity. It seems that the Israeli FinTech hub in Lithuania – and thus in the EU – is in trouble because of the scam facilitating and money-laundering activities.

GNI is a part of the MoneyNetint group around the Trif Family and Raphael Golan (read this FinTelegram report here).

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