Octapay | FinTelegram News

Tag: Octapay

FinTelegram

February 16, 2023

Initial Review Of Ruchi Rathor’s Pay Agency Matchmaking Platform

Admittedly, we were a bit surprised when we received the invitation to Ruchi Rathor's new project, Pay Agency, today. Especially after the recent discussions on Twitter. Our FinTelegram team has been following the Indian payment veteran's projects and learned the brutal art of ripping off high-risk merchants had been practiced there. Now Rathor wants to launch a matchmaking platform with her Pay Agency where she brings merchants and PSPs together. Here is our first impression.

February 15, 2023

Follow The Money: The Luxury Lifestyle Of Executives Of Collapsed iPayTotal!

Indian payment veteran Ruchi Rathor's high-risk payment processor scheme iPayTotal collapsed in late 2020. Initially, iPayTotal Ltd was to be quietly dissolved and disappear. But then creditors came forward, and the court opened bankruptcy on the company. The Joint Liquidators report claims in the millions. Senthooran Kuganathan, a/k/a Sen Kugan, was one of the executives of the scheme and cashed a lot of money. He bought himself an expensive house and a Porsche!

High-risk payment processors

January 25, 2023

Another Guest Post Elaborating The Background Of Vanished OctaPay!

In 2020, when high-risk payment processor OctaPay was formed, they took payment solutions from OpenNode via Afnan Rehman. OpenNode, at that time, was a platform where users could purchase Bitcoins (BTC) and pay via their credit cards. Their credit card solution was provided to them via Wyre. It was a chain of facilitation. We have proof that OpenNode seized $150,000 owed to its client, OctaPay. Many other OpenNode clients have also not received their payments.

High-risk payment processors

January 24, 2023

Guest Post: The Background Story Of Vanished High-Risk Processor OctaPay!

New information on the infamous iPayTotal Group. Back in 2020, iPayTotal was busy dealing with its clients, internal conflicts, and politics. The situation got a little out of hand. Sen Kugan, former director iPaySolutions, hired a bunch of his friends from India and Sri Lankan origin since he is a Sri Lankan. Out of the many employees FinTelegram mentioned in its posts already, who led to the downfall of iPaytotal Group and the reason for the formation of OctaPay? Here is the story!

November 6, 2022

Merchant Alert: New High-Risk Payment Processor BizzBusters Ante Portas!

BizzBusters Ltd was a UK-registered company founded in 2012 by Indian Anurag Pratap Singh, the husband of British-Indian high-risk payment scammer Ruchi Rathor. The company was dissolved in 2016 via a compulsory strike-off and has disappeared. According to whistleblower information, BizzBusters is now to be revived via an Indian company. The mastermind behind the BizzBusters project would be Ruchi Rathor's son-in-law, Yuvraj Singh, and his brother Swaraj Singh.

October 4, 2022

Merchant Warning: PayStudio Is Another Scam Facilitating Payment Processor Of Ruchi Rathor!

We have recently found at soltechX broker scam PayStudio as a payment processor for credit and debit card deposits. The operator is Synopsis Success LDA in Portugal with an address where the high-risk payment processor CryptoMatix by Ruchi Rathor is located. Currently, Rathor and her British-Indian gang apparently run their payment processors through companies in Portugal. Chestnut Investments Lda, the parent company behind the Danish OpenUp is also based in Portugal.

September 15, 2022

Interesting! High-Risk Payment Processor Payomatix And Its Founder Network Event!

The high-risk processor Payomatix is one of the many payment ventures of the British-Indian Ruchi Rathor, who became sort of famous with the collapse of her iPayTotal scheme. iPayTotal vanished with their merchants' money. The scheme's UK entity went into court-ordered insolvency with creditor claims totaling about GBP 1.1M (report here). The successor brand OctaPay vanished after a few months. Nothing about that will be discussed at the Payomatix Founder Investor Networking event in November 2022.

FinTelegram

August 12, 2022

Attention! Notorious Payomatix, Ruchi Rathor, And Their Indian Network Event!

Payomatix is a part of the high-risk payment processing empire of the notorious British-Indian Ruchi Rathor and its iPayTotal Group. Payomatix claims to be a PayTech startup revolutionizing the Indian payment industry through an innovative API platform. On LinkedIn, Payomatix is currently promoting its Founder Investor Networking Q3 event to be held in August 2022 in India. Ruchi Rathor will also be a speaker at this event. She certainly has a lot to tell!

High-risk payment processors

July 28, 2022

The OpenUp Story Continues With Bullied Employees And Paid Trustpilot Reviews!

Currently, the high-risk payment processor OpenUp.Finance is apparently experiencing problems. Existing and former employees have contacted FinTelegram and provided insider information. We have thus been able to confirm that the notorious British-Indian payment veteran Ruchi Rathor is one of the beneficial owners. On July 26, 2022, OpenUp announced the separation of three employees in a LinkedIn posting. Insiders also informed us about Trustpilot manipulations. Thus, employees receive a bonus of $5 if they organize positive reviews.

May 31, 2022

Exposed! NeoBanQ Is Another Payment Processor In The iPayTotal Environment!

We recently reported that NeoBanQ, like iPayTotal before it, tried to get out of UK Companies House via a voluntary strike-off. However, in both cases, creditors objected, and the strike-off procedure was suspended. Companies House officially lists Briton Billy Eldridge as director and beneficial owner. Evidently, he is just a monkey. Former employees have told us that the company is actually run by Ruchi Rathor and Aditya Williams and belongs to the dark iPayTotal empire, just like the dissolved and disappeared OctaPay.

May 30, 2022

Wanted! The Missing Millions Of Collapsed High-Risk Payment Processor iPayTotal!

The court-appointed Joint Liquidators submitted a progress report in Feb 2022 providing a sense of the scale of the iPayTotal disaster while outlining how these high-risk payment processors operate. The liquidators identified 13 creditors but only seven reported claims totaling about GBP 1.1 million. These are likely to be the merchants who wanted to receive their payments through iPayTotal. iPayTotal Ltd was just one of many legal entities in the vanished group. So we can assume that the damage to the merchants is actually many times higher. Many millions have disappeared.

February 21, 2022

Ruchi Rathor, collapsed iPayTotal and the new high-risk payment processors!

It seems that the former people around the collapsed high-risk payment processor iPayTotal have developted a vast network of successor companies. Initially, OctaPay was a successor but since vanished again. Currently, Paypound and Payomatix and the crypto payment processors Cryptomatix and Kryptova are associated with Indian-British iPayTotal co-founder Ruchi Rathor. iPayTotal is active as a fintech software provider through companies in India and Portugal. Ruchi Rathor is still one of the driving forces behind these high-risk payment ventures with close African ties.

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.