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Tag: Blue Trading

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.

December 8, 2021

Finally! The indictment against German payment processor and laundromat B2G!

To be exact, the prosecutors filed charges against the individuals behind the illegal payment processor B2G. We have reported extensively in recent years about the Cologne registered B2G GmbH and its principals, the German Rainer Treuer and former Russian secret agent Oleg Shvartsman. B2G was one of the very big notorious German laundromats and scam facilitators in the binary option era. Among others, they laundered money for Gal Barak and E&G Bulgaria and dozens of other scams.

November 12, 2020

Blue Trading Scam Update – UK Action Fraud assumes Japanese perpetrators

Revealing scams and finding the fraudsters is like a big puzzle. The findings of many victims from different jurisdictions must be combined with the results of various law enforcement agencies, analyzed, and evaluated. This is what FinTelegram does. The Blue Trading scam is a huge big puzzle designed by smart fraudsters. The UK Action Fraud and the UK National Fraud Intelligence Bureau (NFIB) recently delivered another piece of the puzzle.

October 13, 2020

FinTech Service – I did not do that! Confessions of an alleged scammer and scam facilitator!

On May 8, 2018, the German regulator BaFin issued an order that Kai Petersen's FinTech Service GmbH, registered in Dusseldorf, Germany, should cease support for scam brokers. An appeal against this order was denied by the court in Frankfurt. In September 2019, the U.S. SEC filed a complaint against Kai Petersen and his Israeli partners Gil Beserglik and Raz Beserglik charging them with binary options fraud. FinTelegram has reported and Kai Petersen has contacted FinTelegram to contest on of ten counts.

September 16, 2020

Viceroy Report exposes German Grenke as the next Wirecard-like fraud case

Delaware registered Viceroy Research has once again published an obviously explosive analysis. The group around Fraser Perring is specialized in investigative financial research and was among the first to point out the irregularities in the German Wirecard scandal. Now Viceroy is revealing the irregularities at Grenke, a public-listed German financial services provider. The companies share price has collapsed as a result.

August 3, 2020

BaFin issues another Cease and Desist Order to illegal payment processor TrustSecure

The unauthorized and thus illegally operating German payment processor TrustSecure GmbH has been operating since 2017. Initially, the company was founded at the end of 2017 as SCRI-Alpha 961 GmbH as an asset management company. Already in January 2018, the company was renamed to Trustsecure GmbH and Serghei Grodetchi with official residence in Düsseldorf was appointed as managing director. The BaFin issued another cease-and-desist order to TrustSecure in the context of the broker scams FDM Trade Online and TradesPrime.

June 23, 2020

Illegal German payment processor B2G in the crosshairs of international justice

The illegal German payment processor B2G GmbH with the two managing directors, the Germain Rainer Treuer and his Russian partner Oleg Shvartsman, is in the focus of the investigations of Law Enforcement in several jurisdictions within and outside the EU. This is no surprise, as B2G as a payment processor has facilitated the worst broker scams such as Option888 or Blue Trading.

June 1, 2020

Post from WorldMarkets – No facts, evidence, or reasonable explanation provided but threats offered!

Yesterday we again received mail from WorldMarkets (World Markets). In it, a certain Zhang Wei accused us of unfairly calling the scheme a scam and..

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...

June 19, 2019

5 Months – Update on EFRI Campaigns and Status Report

In January 2019, with the arrest of Uwe Lenhoff, founder of Option888 we started our first EFRI-campaign. In February with the arrest of Gal Barak,..

Watchdog

June 14, 2019

Experimental Soft-Launch – The FinTel Watchdog whistleblower platform

FinTelegram launched today the “FinTel Watchdog Platform” (www.the-watchdogs.com) in an experimental soft-launch. The goal of this whistleblower platform is to tap into the wisdom of..

June 10, 2019

Investor Warning – Marshall Island scam schemes CityCapital, MgBroker, and Armax

FinTelegram has received information from whistleblowers strongly indicating that CityCapital, MgBroker, and Armax are part of another broker scam scheme associated and/or related with either..

UNODC Report: Technology-Powered Cybercrime on the Rise in Southeast Asia!

The billion-dollar cyberfraud industry in Southeast Asia is booming, fueled by organized crime syndicates exploiting the latest in AI and cryptocurrency. The UNODC report notes that these criminal networks are outpacing government efforts to regulate and combat their operations. Urgent reforms and enforcement are needed to prevent further damage.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.