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Tag: UPayCard

April 12, 2021

EuroTrader Update – Ozan Ozerk, Soteris Georgiou, domains, and legal entities

We have brought a first report on the activities of brokers brands EuroTrader and LQDFX some ago. The EuroTrader group is regulated by CySEC for its activities in the EU. However, besides that, the group operates offshore mutations via entities in the Marshall Islands and South Africa. The FinTech emperor Ozan Ozerk controls both EuroTrader and the unregulated LQDFX. The British accountant Soteris Georgiou is also registered as Ozerk's long-time partner and accountant as the offshore entities' beneficial owner. Here is an update.

December 9, 2020

UK Moorwand provides issuing services to German FinTech Stocard

FCA regulated Moorwand Ltd is owned and controlled by Wael Almaree who was also one of the controlling beneficial owners of the collapsed Danish KBH Andelskasse, which was placed under state administration for money laundering. As a customer of KBH Andelskasse, Moorwand was involved in hundreds of suspicious transactions. Moorwand announced today that it will provide issuing services for the German FinTech Stocard.

Wirecard

May 6, 2020

Attention: Wirecard closes down a key Dubai subsidiary to reduce “corporate complexity”

Dubai – a popular place for its secrecy – is a hot spot for Wirecard. In recent years, the tax haven has developed into a..

November 18, 2019

OneCoin Trial – The Shakespearean drama around a cryptoqueen, betrayal, fraud, money laundering, and greed

The investigations of the U.S. authorities around the indictment in the Bulgarian Crypto-Scam OneCoin develops into a Shakespeare drama around the cryptoqueen Ruja Ignatova, her..

September 20, 2019

The Scam-Facilitating UPayCard Payment Scheme Charged With Money Laundering

Over the last few months FinTelegram, with the support of the many victims and whistleblowers, has been able to detail how the UK FCA regulated..

July 15, 2019

Update on EFRI funds recovery campaigns and facilitating payment services providers

In recent weeks, the European Funds Recovery Initiative (EFRI) has received legally effective Power of Attorney (POA) from hundreds of client-victims of various broker schemes...

Compliance

June 20, 2019

UK FCA refuses to compensate scam victim despite register mistake

A fake Austrian investment firm The UK Financial Conduct Authority (FCA) has refused to reimburse a scam victim despite a mistake of the regulator in..

April 30, 2019

EFRI Funds Recovery Campaign For KayaFX Broker Scam Launched

Together with the European Fund Recovery Initiative (EFRI) Fintelegram launched the campaign to recover investor funds from the KayaFX broker scam scheme. As part of..

April 27, 2019

Financial Watchdogs in UK and Austria Warn Against Illegal Broker Algotechs

The market supervisory authorities in the United Kingdom (FCA) and Austria (FMA) have issued investor warnings against Algotechs on April 25 and April 27 respectively...

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.

U.S. DOJ Charges 18 Individuals and Entities in Global Crypto Fraud Crackdown!

The U.S. DOJ has charged 18 individuals and entities in an international operation targeting market manipulation and fraud in the crypto industry. The defendants, including market makers and token promoters, are accused of using wash trading and false trading activity to deceive retail investors and artificially inflate crypto prices. This is the first major criminal case of its kind in the crypto market.

Crypto Exchange Crypto.com Sues US SEC Over Regulatory Overreach!

Crypto.com, the Singapore-based crypto exchange with more than 100 million users, has filed a lawsuit against the SEC, challenging the regulator’s authority over crypto assets and accusing it of overstepping its jurisdiction. The lawsuit comes after a Wells notice was issued to the platform, signaling the SEC’s intent to take enforcement action.

The End of The Google Era: US Government Threatens Google with Break-Up Over Search Monopoly!

In August 2024, Judge Amit Mehta ruled that Google had illegally maintained a monopoly in the online search market. Following this landmark decision, the U.S. Department of Justice (DOJ) is considering asking the court to force Google to sell off parts of its business. This could potentially lead to the first major corporate breakup in four decades. Google, however, warns of significant consequences for businesses and consumers.