Authorized by the UK FCA as an e-Money Institution (EMI), MoneyNetint Ltd is a FinTech veteran and has scaled up in the era of binary options. It is controlled by the four Israelis Raphael Golan, Gil Trif, Nissan Trif, and Yishai Trif. The latter is also the CEO of the company. Since 2017, the Group has been operating GlobalNetInt UAB in Lithuania, authorized by the Bank of Lithuania as EMI, together with local partner Luidvikas Kulikauskas.
Facilitating scams, money-laundering, and compliance issues
Both MoneyNetint (www.moneynetint.com) and GlobalNetint (www.moneynetint.com) frequently appear in the victim and whistleblower reports as well as in the FinTelegram investigations as facilitating payment processors for binary options and broker scams. In other words, the group processes scam proceeds and launders them for the perpetrators.
The FCA-regulated MoneyNetint is one of the registered intermediaries of the Lithuanian GlobalNetint and we regard both as the MoneyNetint Group.
Evidently, they have an issue with compliance and AML regulations. Currently, the Bank of Lithuania is investigating GlobalNetint and/or recently finished an audit. No details are available yet. Among the customers and partners of GlobalNetint are companies like the CySEC-regulated Maxigrid which is involved in various scams or the FCA-regulated entities Financial House Ltd and La Orange Limited (Jeton), or the BVI entity The Sacramento Bee Ltd.
The MoneyNetint Group is also connected to the Vienna Cybercrime Trials around the convicted scammer Gal Barak. Via MoneyNetint Group Barak laundered money to Online Prospect and DYISY Group of Simon Tetroashvili, for example. Currently, we are analyzing the data received and will soon provide an update.
Ultimate beneficial owners
Recently we published a Request 4 Information and wanted to know more about the group. Through the answers, we were able to work out the ownership structure at GlobalNetint. The beneficial owners of GlobalNetint are almost identical to those of MoneyNetint:
- The Trif Family holds 47.5% via Triff Holdings Ltd (Companies Register)
- Raphael Golan holds 47.5% through Golan Holdings Ltd (Companies Register)
- Luidvikas Kulikauskas holds 5% as CEO and local partner
The 2019 numbers
Raphael Golan, born in April 1959, is apparently the active financial manager of the holdings and MoneyNetint. He is a director of both Triff Holdings and Golan Holdings and has most recently signed the 2019 financial statements filed with Companies House. Golan is also the director of M-Net International Inc., a subsidiary of MoneyNetInt.
The 2019 financial statements show an annual profit of GBP842,000 for MoneyNetint and more than GBP92,999 for M-Net International. The owners have received a dividend of GBP 852,000. We currently do not have the 2019 numbers for GlobalNetint.
To be continued!