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Tag: E&G Bulgaria

April 15, 2022

Breaking News: Austrian prosecutors appeal against the acquittal of Marina Barak!

Israeli Gal Barak was sentenced as head of the Bulgarian cybercrime organization E&G Bulgaria in September 2020 to several years in prison and more than €4 million restitution payment. His Bulgarian wife, Marina Barak, was the CFO of this cybercrime organization. The German Prosecutor's Office names her as one of the ringleaders. Incomprehensibly, however, Marina Barak was acquitted by an Austrian judge. The prosecution has now filed a 47-page appeal, seen by FinTelegram.

March 23, 2022

Former Gal Barak Lieutenant Chen Ganon also prosecuted in Germany

Chen Ganon was one of the former lieutenants of the convicted principal of the cybercrime organization E&G Bulgaria, Gal Barak. He was the manager in charge of the broker scam SafeMarkets and has managed the boiler rooms in Belgrade and Sarajevo. Until recently, only the Austrian law enforcement prosecuted Ganon. Now the Bamberg prosecutor's office also prosecutes Ganon in Germany.

February 6, 2022

Wanted for court service – Mark Tepterev and his Russian-Estonian hosting provider SmartApe

Israeli Gal Barak, sentenced in September 2020 to four years in prison for investment fraud and money laundering, was a ringleader of the cybercrime organization E&G Bulgaria. He was released from jail on probation. He currently runs defamatory websites in which he slanders FinTelegram, EFRI, and his former partner. An EU court has ordered the hoster SmartApe to delete the articles, but the court order has not been served yet. We are therefore looking for the whereabouts of its director Mark Tepterev.

January 28, 2022

International law enforcement action takes down cybercrime organization in Bulgaria

Evidently, Gal Barak's E&G Bulgaria was not the only cybercrime organization in Bulgaria. On 26 January 2022, the Bulgarian National Police and their international colleagues took down a cybercrime organization allegedly defrauding mainly German and Greek investors of at least EUR 10 million. They searched 24 locations, seized data, computer equipment, and arrested one suspect. Police officers interrogated 66 witnesses in Sofia and Burgas.

January 26, 2022

Cool! German prosecutors forfeited and auctioned the scammers’ luxury cars!

Gal Barak‘s Lieutenant Jacki Fitelzon was most recently sentenced to 82 months in prison in Munich. Fitelzon pleaded guilty as charged to being part of..

January 13, 2022

Cybercrime activist Jacki Fitelzon sentenced to an 82-months prison time

The sentence was even a bit harder than we expected. On January 12, 2022, the verdict against the Israeli citizen Jacki Fitelzon was handed down in the court in Munich. The Israeli was one of the co-conspirators of Gal Barak, the so-called Wolf of Sofia. Fitelzon had pleaded guilty to the charges and has now been sentenced to 82 months in prison for commercial and gang fraud. It was also confiscated €760,000. The sentence is not yet final. Fitelzon asked to be transferred to a rehab facility, which the court ordered!

December 17, 2021

Interview with EFRI principal – First, they laughed, then they threatened, and finally, they got arrested!

The European Fund Recovery Initiative (EFRI) was founded in 2018 by the auditor and CPA Elfriede Sixt in a joint effort with FinTelegram and lawyers. EFRI represents more than 1,000 scam victims with around 60 million euros damages. Besides assisting victims, EFRI brought criminal charges through lawyers against scammers and their enablers and facilitators. EFRI is probably the most hated institution for the worldwide scammer and cybercrime scene. Elfriede Sixt talks about her experiences in the fight against cybercrime.

December 10, 2021

Cybercrime war – German prosecutors arrested some 30 suspects worldwide, and counting!

The trial of Israeli citizen Tal-Jacki Fitelzon is currently underway in Munich. He was one of Gal Barak's lieutenants in his cybercrime organization E&G Bulgaria. Three former boiler room employees of E&G Bulgaria had already been sentenced to 33, 48, and 54 months in prison in Germany. According to one of the responsible public prosecutors, Bavaria-based Nino Goldbeck, some 30 suspected cybercrime activists sit currently in prisons in pre-trial detention worldwide at the request of German and Austrian law enforcement.

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.

December 5, 2021

Analysis – More indictments against the E&G Bulgaria Mafia family

Maor Sioni has referred to Gal Barak's cybercrime organization E&G Bulgaria as his family. In proper mafia parlance. Sioni was one of the family's executives. Another executive, Tal-Jacki Fitelzon is currently standing trial in Munich, Germany. The indictment accuses him of being a ringleader of the cybercrime organization E&G Bulgaria, which allegedly defrauded tens of thousands of consumers worldwide out of more than €200 million with its scams. Jacki has already pleaded guilty to this charge as a ringleader of the Mafia family.

December 2, 2021

Watch Out BaFin! Notorious high-risk payment processor Fibonatix goes Berlin!

This is perhaps not too good news for the German regulator. Fibonatix, founded by the Israeli Tal Miller, is a notorious high-risk payment processor. It has been facilitating dozens of broker scams. Fibonatix was also one of the payment processors of Gal Barak's cybercrime organization E&G Bulgaria. Barak confirmed that in addition to Payvision, Fibonatix was laundering stolen funds. Fibonatix, regulated as a payment institution by the FCA since 2018, announced the opening of an office in Berlin. It plans to serve the put a specific focus on the DACH region!