Tag: Anurag Pratap Singh

FinTelegram has already reported that the UK entities behind the high-risk payment processors, Kryptova, Bitmatix, and Paypound are in the process of being dissolved. The UK Companies House announced that the companies cease to exist via voluntary strike-off as of April 18, 2023. They belong to the network of notorious Indian payment veteran Ruchi Rathor. Merchants should take the best care of their money and avoid black-listed Kryptova, Bitmatix, and Paypound.

The high-risk payment processor BitMatix is part of Ruchi Rathor's network and is operated by her son-in-law Yuvraj Singh. Until recently, BitMatix IO Ltd in the UK was listed as the operator. On January 23, 2023, a voluntary strike-off request was filed by the company. As with the other UK companies in the network, Kryptova, and Paypound. The BitMatix website now states a BitMatix Inc. as the operator. We have not been able to find this company and advise merchants to be super-cautious.

Indian payment veteran Ruchi Rathor's high-risk payment processor scheme iPayTotal collapsed in late 2020. Initially, iPayTotal Ltd was to be quietly dissolved and disappear. But then creditors came forward, and the court opened bankruptcy on the company. The Joint Liquidators report claims in the millions. Senthooran Kuganathan, a/k/a Sen Kugan, was one of the executives of the scheme and cashed a lot of money. He bought himself an expensive house and a Porsche!

New information on the infamous iPayTotal Group. Back in 2020, iPayTotal was busy dealing with its clients, internal conflicts, and politics. The situation got a little out of hand. Sen Kugan, former director iPaySolutions, hired a bunch of his friends from India and Sri Lankan origin since he is a Sri Lankan. Out of the many employees FinTelegram mentioned in its posts already, who led to the downfall of iPaytotal Group and the reason for the formation of OctaPay? Here is the story!

High-risk processor Payomatix is one of the many payment ventures of the notorious British-Indian Ruchi Rathor, the mastermind behind the collapsed payment scheme iPayTotal scheme. Just recently, Rathor launched the RaiseMoney initiative, an online community assisting entrepreneurs and investors in their early-stage financing. The legal entity behind this new scheme is Payomatix Technologies Pvt Limited, a company black-rated on PayRate42. We advise merchants and investors to be super-cautious!

BizzBusters Ltd was a UK-registered company founded in 2012 by Indian Anurag Pratap Singh, the husband of British-Indian high-risk payment scammer Ruchi Rathor. The company was dissolved in 2016 via a compulsory strike-off and has disappeared. According to whistleblower information, BizzBusters is now to be revived via an Indian company. The mastermind behind the BizzBusters project would be Ruchi Rathor's son-in-law, Yuvraj Singh, and his brother Swaraj Singh.

The high-risk processor Payomatix is one of the many payment ventures of the notorious British-Indian Ruchi Rathor, the mastermind behind the collapsed payment scheme iPayTotal scheme. The scheme’s UK entity went into insolvency with creditor claims totaling about GBP 1.1M (report here). On LinkedIn, Payomatix is currently soliciting gambling operators that plan to address the Indian market. Payomatix is black-rated on PayRate42. We advise merchants to be super-cautious!

In Nov 2020, a UK court ordered iPayTotal Ltd to go into insolvency and liquidation. Many millions disappeared in the collapse of the British-Indian high-risk payment scheme. The beneficial owners were Ruchi Rathor, Anirudh Pratap Singh Rathor, and Anurag Pratap Singh. They operate several successor schemes through legal entities in India and Europe. Ruchi Rathors future son-in-law, Yuvraj Singh, is the mastermind behind OpenUp, Kryptova, and BitMatix. Merchants should avoid these payment schemes.

iPaytotal was a notorious Indo-British high-risk payment processor that was primarily involved in scams and cybercrime activities. FinTelegram has exposed iPayTotal as a facilitator in dozens of scams. In Nov 2020, iPayTotal Ltd in the UK was ordered by the court to go into insolvency and liquidation. Many millions disappeared in the process. The beneficial owners were Ruchi Rathor, Anirudh Pratap Singh Rathor, and Anurag Pratap Singh. They are currently operating a number of successor schemes through their companies in India and the UK. BitMatix is just one of them.

The court-appointed Joint Liquidators submitted a progress report in Feb 2022 providing a sense of the scale of the iPayTotal disaster while outlining how these high-risk payment processors operate. The liquidators identified 13 creditors but only seven reported claims totaling about GBP 1.1 million. These are likely to be the merchants who wanted to receive their payments through iPayTotal. iPayTotal Ltd was just one of many legal entities in the vanished group. So we can assume that the damage to the merchants is actually many times higher. Many millions have disappeared.

It seems that the former people around the collapsed high-risk payment processor iPayTotal have developted a vast network of successor companies. Initially, OctaPay was a successor but since vanished again. Currently, Paypound and Payomatix and the crypto payment processors Cryptomatix and Kryptova are associated with Indian-British iPayTotal co-founder Ruchi Rathor. iPayTotal is active as a fintech software provider through companies in India and Portugal. Ruchi Rathor is still one of the driving forces behind these high-risk payment ventures with close African ties.

FinTelegram has reported several times on the collapse of the notorious British-Indian high-risk payment processor iPayTotal. In Oct 2020, a UK court ordered the insolvency and liquidation of iPayTotal Ltd. In Oct 2021, the successor company iPaySolutions Ltd also filed for liquidation. Since then, iPayTotal has been relabeled into a FinTech software company operated by IPT Solutions PT, Portugal, which also runs the crypto payment platform CryptoMatix with iPayTotal co-founder Ruchi Rathor. Here is the update!