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April 23, 2022

Breaking News! The trial against Veltyco Scheme with Option888 starts in Germany!

In early 2019, the German Uwe Lenhoff was arrested in his Ferrari at his vacation spot in Austria. Law enforcement had gathered enough evidence to arrest Lenhoff for being the mastermind and principal of a vast cybercrime organization. One of his lieutenants was Betim Tasholli, a Kosovan national. Lenhoff was found dead in his prison cell in the summer of 2020. Cause of death unknown. Thus, Betim Tasholli moved up to the main surviving perpetrator. The trial against him will begin on June 22, 2022, in Germany. Lenhoff was one of the partners of Gal Barak.

December 9, 2021

German prosecutors charge payment processor and scam-facilitator P2P!

The public prosecutor's office in Cologne has filed charges against the responsible operators of the illegal payment processor P2P GmbH ("P2P"), which acted as a scam-facilitating payment processor for numerous major binary options and broker scams. Gal Barak's E&G Bulgaria criminal files show that P2P processes millions of victims of their various scams. With the P2P indictment, the Cologne prosecutor's office has charged the second illegal payment processor following a criminal complaint of EFRI. We reported about the B2G indictment recently.

August 17, 2021

Israeli-German-Dutch scam network allegedly produced more than 200,000 victims in Germany

In September 2021, the Israeli cybercrime kingpin Gal Barak was sentenced to four years in prison for investment fraud and money laundering in Austria. German prosecutors, led by Nino Goldberg, also want to charge Gal Barak, see him convicted and sentenced to prison. Barak appealed against the indictment; the case is currently before the European Court of Justice. Barak's former boiler room manager Tal-Jacki Fitelzon has already been indicted. Barak's former partner in crime, Uwe Lenhoff, died in prison last year, but his co-conspirators will be indicted. Barak and Lenhoff allegedly produced more than 200,000 victims in Germany!

June 10, 2021

The incredible story of Wirecard Mini-me Payvision and its founder Rudolf Booker

Amsterdam FinTech entrepreneur Rudolf Booker founded the payment processor Payvision in 2002 and ran it more or less successfully. The business evidently took off in 2015 when Amsterdam real estate investor Dirk-Jan Bakker introduced German cybercrime activist Uwe Lenhoff to Booker. Lenhoff and his partners brought dozens of fraudulent binary options operators to Payvision, where Booker welcomed them with open arms. In 2018, Booker sold Payvision to ING for €360 million, fully packed with high-risk and illegal clients; in April 2020, he and his co-founders left Payvision.

December 22, 2020

Bet90 Holdings – The Zombie company that survived its founder Lenhoff

On December 9, 2020, Bet90 Holdings PLC announced that it had received another €700,000 via a convertible loan. Since the arrest of founder Uwe Lenhoff in January 2019 on charges of operating a cybercrime organization with many online scams and his subsequent death in prison in early July 2020, it is completely unclear how the story will end. Authorities in several countries are still investigating the matter for investment fraud and money laundering and could give the story a few more twists.

November 29, 2019

Binary Options Scams – The secret relationships between Novox Capital, Payvision and Lenhoff

In January 2019 the German Uwe Lenhoff was arrested. After months of investigations by the authorities in Austria, Germany, and other EU countries, the authorities..

November 20, 2019

Broker Scam Investigations in Germany – Names of Suspects disclosed

The investigations of the EU authorities into broker scams involving the German Uwe Lenhoff and his partners Gal Barak, Gery Shalon and Vladislav Smirnov are..

May 26, 2019

Gal Barak snitches on Uwe Lenhoff, denies any partnership but confirms legal troubles

FinTelegram possesses literally dozens of documents which provide evidence of close cooperation between the German Uwe Lenhoff and the Israeli Gal Barak. In 2015, for..

January 5, 2019

CELESTIAL TRADING Does Not Hold A Financial Trading License!

Further to our report on VELTYCO’s announcement to launch its own regulated financial trading brand, we would like to inform our readers that we just..

December 23, 2018

EFRI Funds Recovery Campaign Against Veltyco’s Online Trading Schemes Option888, ZoomTrader, and XMarkets

FinTelegram has already been covering the online trading scams around the public-listed VELTYCO GROUP PLC for months and has warned investors. These scams include Option888,..

September 19, 2018

THE NETWORK AROUND SAFEMARKETS, OPTIONSTARS, AND NOVOX CAPITAL

After the shutdown of the fraudulent binary options platform SafeMarkets, it is time to conduct a further forensic analysis of the malicious activities of the..

July 10, 2018

VELTYCO´s HOLY GRAIL 2017: BINARY OPTIONS AND ZOOMTRADER(GLOBAL)!

What is Melissa BLAU doing next? Since March 2018 Melissa BLAU is VELTYCO´s CEO. Her first official statement was done as of March 29, 2018, noting..

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.

Prosecuted Telegram CEO Durov Challenges Personal Liability for Platform Misuse!

The prosecuted Telegram CEO Pavel Durov argues that holding CEOs personally liable for platform misuse is an outdated practice that threatens innovation. Following his Paris arrest, Durov emphasized that platforms like Telegram must adapt to rapid growth, but outdated liability standards should not stifle progress. His case highlights the ongoing debate about balancing innovation, privacy, and regulation in the tech world.

U.S. Regulator CFTC Lost Court Case Against Kalshi Legal Battle Over Election Bets!

KalshiEx is a U.S.-based prediction market platform that sought to offer trading in derivatives contracts based on the outcomes of Congressional elections, which the CFTC prohibited. KalshiEx challenged the regulator's decision in court and won, opening the door for election-based derivatives markets in the U.S. However, the CFTC is seeking a temporary stay.

Germany: Accomplices in Fraudulent Cyber Trading Platforms Charged by Karlsruhe Prosecutor!

The Baden-Württemberg Cybercrime Center in Germany has announced that it charged three suspects linked to an international fraud scheme that cost over 820 victims more than €5 million. The case marks a significant step in combating organized cyber trading fraud but underscores the growing complexity of such operations that often rely on an international division of labor.

Influencers

Influencers and Financial Crimes: A Short Guideline and a Request for Whistleblower Information!

Recently, the influencer industry has come under increased scrutiny from regulatory bodies worldwide. The case of Turkish influencers Dilan Polat and Engin Polat, facing $30 million money laundering charges and allegations of operating an illegal betting ring, perfectly demonstrates the potential legal risks in this sector. This high-profile case has prompted authorities to investigate hundreds of other influencers for potential financial crimes.