Italo Mainolfi | FinTelegram News

Tag: Italo Mainolfi

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.

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.

June 27, 2022

Update! Axi Group & Its Offshore Broker Activities With NewFX, DBFX, And Others!

FinTelegram already issued some reports on Maltese boiler room operator Capital Solutions Ltd, controlled by the Italian Gennaro Lanza, and its related offshore brokers such as NewFX, Dubai FXM, DBFX, or DBinvesting. Recently, we exposed a relationship between these schemes and Axi Group and One Financial Markets. Upon our reports, the access to these offshore for EU residents has been blocked but UK residents can still register and trade with them. In our new review, we found new payment processors and other interesting connections. Here is the update!

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.

Paxum Bank: The Offshore Bank for the Porn Industry!

Paxum Bank, an offshore financial institution based in Dominica, has found itself at the center of controversy due to its connections with high-risk industries and recent revelations about its relationship with the embattled Tate brothers. Specializing in serving the adult entertainment sector, the bank has become a key player in providing financial services to businesses often shunned by traditional banks. However, this niche focus has also drawn scrutiny from regulators and investigators.

Tate Brothers Case: The Misogynist Influencers Used Offshore Accounts to Launder Proceeds from Sexual Exploitation!

New evidence suggests that the influencer Andrew Tate and his brother Tristan Tate used offshore accounts, including Paxum Bank, to conceal profits from their controversial webcam business. The Tates are facing serious charges, including human trafficking and money laundering. This case highlights the need for robust AML/KYC practices, particularly for payment processors in high-risk sectors like adult entertainment.

UK FCA Charges First Individual for Operating Illegal Crypto ATM Network for Money Laundering!

The UK Financial Conduct Authority (FCA) has charged London-based Olumide Osunkoya with running an illegal crypto ATM network, marking the first case of its kind in the UK. As crypto ATMs are increasingly used for money laundering, the FCA's crackdown on unregistered operators underscores the need for strict regulatory compliance. The ATM scheme allegedly processed £2.6 million in crypto transactions.

Public-Listed Crypto Exchange Coinbase Has to Face Shareholder Lawsuit Over SEC Risks!

U.S. crypto exchange Coinbase must face a shareholder lawsuit accusing it of downplaying regulatory risks, specifically the chances of being sued by the SEC. While a U.S. judge dismissed parts of the case, the key allegation of misrepresenting regulatory risks will proceed. This case underscores the importance of transparency in the crypto sector, where regulatory uncertainties continue to loom large, particularly in the U.S.

U.S. Regulator SEC Charges Seven Public Companies for Violating Whistleblower Protection Rules!

The U.S. Securities and Exchange Commission (SEC) charged seven public U.S. companies with using agreements that restricted employees from reporting securities law violations, resulting in over $3 million in penalties. The SEC takes strict action against organizations and individuals who seek to contractually restrict whistleblowers' rights. The regulator needs insiders to disclose financial wrongdoing and compliance violations.