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Tag: Gal Barak

August 28, 2023

Payvision Victims Go After The Dutch Regulator DNB Over Refusal To Support Them!

FinTelegram readers are well aware that through the coordination of the European Funds Recovery Initiative (EFRI), the Dutch payment processor Payvision, now in liquidation, is being sued by victims of scams who made and lost their deposits through Payvision. An investigation conducted by Dutch regulator De Nederlandsche Bank (DNB) confirmed that Payvision supported scams and violated financial laws in the process. However, DNB does not want to make the report available to victims.

August 24, 2023

German Prosecutors Filed Indictment Against Former SafeMarkets Manager Chen Ganon!

German prosecutors issued an arrest warrant for Israeli Chen Ganon last year. The arrest warrant was suspended on bail. There is already an indictment and the trial will follow shortly. Ganon was one of the lieutenants of convicted cybercrime mastermind Gal Barak. As the manager in charge of the SafeMarkets scam Ganon was responsible for thousands of victims worldwide from whom millions were stolen. Ganon ran the boiler room behind SafeMarkets in Sarajevo, Bosnia-Herzegovina.

August 21, 2023

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

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.

August 6, 2023

What Happened To The Cybercrime Mastermind Gery Shalon After Blowing The Whistle Big Style?

The Georgia-born Israeli Gery Shalon has been a prominent figure in the world of cybercrime, especially after being labeled as the alleged mastermind behind some of the most significant hacks on the US financial system in the early 2010s. Shalon was also the mastermind behind Gal Barak's cybercrime organization. He allegedly made a deal with the U.S. prosecution and snitched on his former partners.

June 26, 2023

Interesting: The Real-Estate Investments Of Former Partner Of Cybercrime Organization Veltyco!

In January 2019, alleged German cybercrime mastermind Uwe Lenhoff was arrested after years of investigation by European law enforcement. Lenhoff was not charged with any crime. He died in custody in Germany in July 2020. One of his partners was Amsterdam-based real estate investor Dirk-Jan Bakker, also a shareholder in Lenhoff's listed Veltyco Group PLC (now Bet90 Holdings PLC). The latter has recently invested massively in luxury real estate in Austria. Here is the update.

June 13, 2023

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

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!

April 25, 2023

Attention: Dutch Lawyer Starts Legal Action Against Payvision!

It was early 2019 when a year-long investigation by law enforcement agencies resulted in the arrest of two cybercrime masterminds, Uwe Lenhoff and Gal Barak, took place. Both were clients of Rudolf Booker's high-risk payment processor Payvision with their scams. Lenhoff was even a sales partner of Payvision. Now the Dutch lawyer Marius Hupkes is also taking action against Payvision in Amsterdam on behalf of scam victims and invites them to contact him.

March 30, 2023

No! Payvision And Rudolf Booker Are Not Defendants In The German Indictments!

A whistleblower asked us if Payvision or its founder Rudolf Booker was also named a defendant in the German indictment against Gal Barak. The question is justified because tens of millions of the victims of Barak's broker scams have deposited via Payvision. The criminal files show that as Payvision's CEO at the time, Booker knew that Barak was running scams and defrauding customers. But to our knowledge, he is not listed as a defendant in the German indictment.

March 29, 2023

Gal Barak Case: German Trial May Be Scheduled For Late 2023; Potential Witnesses Threatened!

We reported last week on the decision of the Court of Justice of the European Union (CJEU) in the case of Gal Barak. The CJEU stated that Barak and his accomplices could be charged in any EU member state where they defrauded citizens with broker scams. Thus, according to the information available, the German prosecutor's office around Nino Goldbeck will move forward quickly with the indictment of Gal Barak and his wife, Marina Barak. A trial in Germany could begin in the fall.

March 24, 2023

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

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.

March 23, 2023

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

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.

March 9, 2023

Vanished: Disgraced ING Subsidiary Payvision Seems To Be Gone Without Compensating Victims!

We had already been expecting this for a few weeks. Since the Dutch banking giant ING announced in October 2021 that it would phase out Payvision, it was clear that at some point, quietly and secretly, the high-risk payment processor founded by Rudolf Booker would disappear. For ING, Payvision, acquired in 2018 under then-CEO Ralph Hamers for a reported €400 million, was a huge financial and reputational flop. Court documents to CEO Andre Valkenburg can no longer be served!