Wanted for funds – Maltese payment processor Paytah in legal troubles
Paytah is operated by Phoenix Payments Ltd, a company registered in Malta and regulated by MFSA. As reported by FinTelegram, PayTah has facilitated vast broker scams, including LincolnFX, RoyalsFX, CodexFX between 2019 and 2020. Victims of these scams have provided the European Fund Recovery Initiative (EFRI) with the Power of Attorney to recover their funds. Via its Maltese lawyer EFRI has taken actions to recover the victims' funds from Paytah. Currently, the Maltese connection is chasing after the Paytah people.