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March 15, 2024

Gennaro Lanza: An Italian Masterclass in Financial Alchemy, or What?

In the grand tapestry of financial legends, Gennaro Lanza emerges not as a mere entrepreneur but as a virtuoso of the financial dark arts. His journey, as recounted in a recent hagiography in Vents Magazine, reads less like a business saga and more like a masterclass in the ancient art of alchemy—turning the base metals of boiler rooms and forex schemes into the gold of a fintech empire. Lanza, on the other hand, sees himself as a victim of ongoing defamation.

January 6, 2024

Gennaro Lanza Celebrates His ‘Entrepreneurial Triumph’ Amidst Defamation Battle!

Invest Group Global recently proclaimed an "entrepreneurial triumph" under the leadership of Founder, Angel Investor, and CEO Gennaro Lanza, proudly boasting a purported yearly revenue of a staggering $15 million for 2023. While the press release touts this achievement with celebratory language, a closer inspection reveals a narrative rife with red flags and questionable practices associated with Lanza's broker schemes and activities.

July 24, 2023

New Regulatory Warnings Against Black-Listed Offshore Broker Scheme OnspotBNK

OnspotBNK is a black-listed offshore broker and scam active with various legal entities and domains in various jurisdictions. Currently, the website with the new domain Onspotcap.com indicates ONS Financieel Advies & Coaching B.V., registered and licensed in Holland as the owner. We have not found a valid license. The Italien Consob warned against the offshore broker, as did the Alberta Securities Commission in Canada. Stay far away and protect your financial health.

September 20, 2022

Good News! Offshore Brokers NewFX, DBInvesting, And DBFX Ceased To Attack EEA Consumers!

We have covered the Maltese boiler room operator Capital Solutions and the connected offshore brokers for a few months now. The Italian Gennaro Lanza controls the boiler room operations and the related offshore brokers such as NewFX, Dubai FXM, DBFX, or DBinvesting. The NewFX and DBFX websites are no longer accessible to European customers, and DBInvesting no longer accepts EU & UK clients. This is good news and probably also due to FinTelegram reporting.

June 30, 2022

The Maltese Boiler Room Operator Capital Solutions And Its Vast Broker Network!

Over the last couple of months, FinTelegram published several reports on the Maltese boiler room operator Capital Solutions Ltd. We very quickly received further information from whistleblowers and partners. The Italian Gennaro Lanza is currently the only remaining beneficial owner after his Italian co-founders Massimiliano Moroni, and Italo Mainolfi sold him their shares. Lanza is connected to several offshore brokers such as Dubai FXM, NewFX, or DB Investing. Evidently, he is operating a vast unauthorized financial business in Malta.

May 3, 2022

Attention! Do not fall for OnspotBNK facilitated by BridgerPay and CoinDeck!

OnspotBNK is an offshore broker and a scam. OnspotBNK Limited, allegedly regulated by VFSC, would be the operator. However, we have found neither the license number nor the company in the register of the VFSC. Instead, we found that the DubaiFXM and DBFX broker schemes also operated with these license details. The same perpetrators are behind these schemes and many more. Once again, BridgerPay and Jubiter a/k/a CoindDeck came to our attention as payment processors. Stay very far away and protect your money.

Compliance Report: Sergey Mendeleev, Garantex, and Exved – The Rising Role of Crypto in Russia’s Sanctions Evasion Strategy

Sergey Mendeleev, a prominent figure in Russia's cryptocurrency scene, has played a central role in the establishment and operation of two key platforms—Garantex and Exved. These platforms have been instrumental in facilitating cross-border payments and crypto transactions, potentially serving as important tools for Russia’s sanctions evasion strategy. Mendeleev's growing influence in this space, coupled with Russia's evolving regulatory framework, positions him as a key player in Russia.

Russia’s New Crypto Strategy for Sanctions Evasion

Russia’s new crypto laws, allowing mining and international payments in digital currencies, are part of a broader strategy to evade Western sanctions and reduce dependence on the U.S. dollar. This move, led by the Central Bank of Russia (CBR), opens up new compliance risks for global financial institutions dealing with Russian entities. The new laws are set to take effect in September for cross-border payments and in November for crypto mining.

Secretive Cyprus Funds Used to Obscure Megayachts and Real Estate Linked to Sanctioned Russian Banker

A recent OCCRP investigation revealed that Cyprus-registered RAIFs were used to hide megayachts and real estate linked to sanctioned Russian banker Andrei Kostin. These secretive funds, managed by Inveqo, allowed clients to avoid disclosing their ownership, raising concerns about the effectiveness of sanctions and regulatory enforcement. The case highlights the challenges of ensuring transparency and preventing financial crime in the global investment landscape.

First-Ever Crypto Seizure in Scotland Under New UK Law

Crypto has undoubtedly become mainstream, particularly in the cybercrime sphere. In a first for Scottish law enforcement, £110,000 in cryptocurrency has been confiscated from John Ross Rennie following a violent robbery. Under new UK rules, police can now seize crypto assets without needing to make an arrest, highlighting a growing focus on tackling digital crime as incidents involving cryptocurrency continue to rise.

Former Lebanon Central Bank Governor Riad Salameh Charged with Financial Crimes

It was a long-expected move. The powerful former Lebanon Central Bank Governor Riad Salameh has been arrested and charged with embezzling $42 million in public funds, part of a broader $110 million fraud case. His detention comes amid ongoing domestic and international investigations into financial misconduct during his controversial three-decade tenure. In 2022, the European Union Agency for Criminal Justice Cooperation (Eurojust) froze assets worth €120 million tied to Salame.