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Posts tagged as “Golden Markets”

#FollowTheMoney – Court Case E&G Bulgaria, illicit payment processor GPay and money flow to involved facilitators and offshore entities

This is the first part of the series on the public discussion of the flow of money around the currently largest cybercrime court case in Europe, Gal Barak's E&G Bulgaria. FinTelegram and EFRI want to mobilize the victims of the scams and together with the prosecutors to take action to secure the stolen money for funds recovery. We want to mobilize as much as possible victims of this cybercrime scheme - and there are more than 30,000 vicims we hear - before the trial starts.

XTraderFX Scam and the Wolf of Sofia – FCA regulated payment processor Cauri facilitated Gal Barak’s broker scam network

The reports of FinTelegram about broker scams and the attackers behind them help damaged investors as well as authorities and lawyers. We have made this experience in the last two years and we are more than happy with that. It shows us that the fight against scammers is useful and necessary. We learned of another fund recovery success story in UK along with the exposure of another facilitating Fintech company.

Exposed – ING subsidiary Payvision processed €130 million illicit proceeds for now-detained broker scammers Lenhoff & Barak and did so while reporting suspicious activities!

The extent of the damage caused by scam facilitating FinTechs is very clearly shown by the ING subsidiary Payvision. The Dutch Fintech processes some €130 million just for the scams of the two now-imprisoned Uwe Lenhoff (Germany) and Gal Barak (Israel). Thanks to the investigations many sad hypothesis around FinTechs and their role as cybercrime facilitators have been proved by facts and evidence.

EU Groundhog Day – Bulgarian court again adjourned decision on Gal Barak extradition while U.S. courts aggressively go for his former partners!

Today another trial took place in Sofia, Bulgarian. Again, the Austrian authorities' request for the extradition of the Israeli citizen Gal Barak, who lives in Sofia, was to be decided. Again, the decision was adjourned. Scheduled for 21 October 2019 now.

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