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Tag: XTraderFX

Rumors About Imminent Indictment of Gal Barak and Gery Shalon: Unraveling the Web of Cybercrime!

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Here's an update on the E&G Bulgaria cybercrime case involving Israelis Gal Barak and Gery Shalon. FinTelegram has been instrumental in uncovering and providing crucial whistleblower information, which led to Barak's arrest in early 2019. While Barak and several of his associates have already been sentenced, further charges are anticipated, potentially implicating Gery Shalon as the true mastermind behind Barak's operations.

German Prosecutor Of The Wolf Of Sofia Was Awarded The Highest Honor! What About The Whistleblowers?

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Nino Goldbeck became known to FinTelegram readers as the chief prosecutor of Gal Barak, a/k/a, Wolf of Sofia, and his cybercrime organization in Germany. The Association of German Criminal Investigators recently awarded Goldbeck its highest honor, "Bul le mérite." However, the honor of crashing the Wolf of Sofia's cybercrime organization belongs not only to Goldbeck but also to an enabling whistleblower who exposed the fraud via FinTelegram. Here is the true story.

Victims, Please Wait! German Court Still Works On New Schedule For The Gal Barak Trial!

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Gal Barak, an Israeli cybercrime mastermind, sentenced to four years in prison in Vienna in Sept 2020 for investment fraud and money laundering, was charged in Germany in 2021. His Austrian lawyer appealed the extradition, citing the principle of ne bis in idem. In March 2023, the Court of Justice of the European Union (CJEU) ruled that Barak could be charged in Germany. The German Court still works on the new schedule. Hence, victims are still waiting for justice and restitution payments!

Barak Case: The CJEU Opinion And the Next Steps To Bring Justice And Compensate Victims!

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We reported yesterday on the decision of the Court of Justice of the European Union (CJEU) in the Gal Barak case. In 2020, he was convicted and sentenced for investment fraud and money laundering in Austria; additional charges are possible in other jurisdictions. In Germany, Gal Barak and his wife, Marina Barak, are to be charged as ringleaders of the cybercrime organization E&G Bulgaria. Barak had entered a ne bis in idem plea. Apparently unsuccessfully. Thus, German prosecutors can proceed with their charges.

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

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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.

Request 4 Information: EFRI Is Looking For Scam Victims Facilitated By Payvision

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Card payments are the most important and popular online payment systems. Only by checking the billing descriptors (set by the acquirer) can you identify the processing acquirer. EFRI identified the following billing descriptor used by Payvsion when processing the card transactions for Gal Barak and Uwe Lenhoff. EFRI is looking for scam victims that lost money via Payvision. Here are the identifying billing descriptors.

Exposed: The Stolen Millions Of The Israeli Scam Brokers And The Missing Restitution Payments!

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In Austria, another trial in the environment of Israeli Gal Barak's cybercrime organization E&G Bulgaria will begin in a few weeks. Barak was sentenced in 2020 for investment fraud and money laundering to several years of imprisonment and about €4 million in restitution payments that he has not paid yet. Criminal records show that Gal Barak, his wife, Marina Barak, and his partners, Gery Shalon and Vladislav Smirnov, earned around €38 million between 2017 and 2019 alone.

Payvision: How To Make Business With Criminals!

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ING's current subsidiary Payvision will close in 2023. The reason for this was the massive involvement of Payvision in cybercrime and money laundering activities under its founder and former CEO Rudolf Booker. Booker sold Payvision to ING for around €350 million in 2018. How unabashedly Booker did business with cybercrime organizations as CEO is shown files from the criminal proceedings against convicted fraudster Gal Barak. Here is a remarkable scene from the criminal file!

Catch Me If You Can! Convicted Binary Options Fraudster Launched Startup Fund to support other Convicted Cybercriminals!

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In September 2020, Israeli Gal Barak was sentenced to four years in prison for investment fraud and money laundering by a court in Vienna. He was released on parole in 2021 and has since founded the Vantage fund in Israel, which aims to finance convicted cybercriminals and their startups. However, German prosecutors also charged Barak as a principal of the cybercrime organization E&G Bulgaria. The case is currently before the European Court of Justice.

Wake-Up Call For The EU Legal System In The Precedent Case Of Cybercrime Perpetrator Gal Barak!

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The 35-year-old Israeli Gal Barak has shown how helpless the E.U. is in the fight against cybercrime. Barak, along with U.S. defendant Gery Shalon and Russian Vladislav Smirnov, ran a global network of binary options and CFD broker scams, defrauding tens of thousands of victims of more than $200M. In Sept 2020, he was sentenced to a four-year prison term but released on bail after just one year. Upon his release, a private jet flew him to Israel, where he announced plans to launch a $20 million cybercrime fund to benefit from cybercrime energy!

Belgrade will prosecute a Gal Barak boiler room agent, or so they say!

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Serbian Rada Tanackovic was one of Gal Barak's Serbian boiler room agents. According to the findings of the prosecutor's office in Bamberg, Germany, she worked for the broker scam XtraderFX with the stage name Nicole Becker and defrauded clients. The German prosecutor's office issued an arrest warrant for her in January 2020. However, she could not be arrested. Serbian authorities questioned her in August 2020 and want to pursue the investigation in Serbia.

Cybercrime war – Who is the real Wolf of Sofia?

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In September 2020, an Austrian court sentenced Gal Barak, the Wolf of Sofia, to four years in prison for investment fraud and money laundering. He was recently released on parole and is currently staying in Israel, where he gave an interesting interview to Calcalist in August 2021. He spoke openly about the fraud and manipulation with his scam brands XtraderFX, OptionStarsGlobal, SafeMarkets, and Golden Markets. According to Barak, everyone in the organization was aware of the fraud.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

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