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June 6, 2021

US SEC settles fraud complaint against binary options fraudsters Kai Petersen, Gil Beserglik et al

54-year-old German Kai Petersen a/k/a Kai Haupt and his Israeli partners Gil Beserglik and his son Raz Beserglik have been major players in the binary options and forex fraud industry between 2014 and 2020. Their scam brands and boiler rooms have defrauded tens of thousands of investors out of as much as $100 million the SEC has alleged in a fraud lawsuit. The US regulator claims that Bloombex Options, Morton Finance, and Starling Capital ripped off $100 million. And these were only three of many other scams. On May 25, 2021, the SEC announced a cheap settlement in this case.

October 13, 2020

FinTech Service – I did not do that! Confessions of an alleged scammer and scam facilitator!

On May 8, 2018, the German regulator BaFin issued an order that Kai Petersen's FinTech Service GmbH, registered in Dusseldorf, Germany, should cease support for scam brokers. An appeal against this order was denied by the court in Frankfurt. In September 2019, the U.S. SEC filed a complaint against Kai Petersen and his Israeli partners Gil Beserglik and Raz Beserglik charging them with binary options fraud. FinTelegram has reported and Kai Petersen has contacted FinTelegram to contest on of ten counts.

UNODC Report: Technology-Powered Cybercrime on the Rise in Southeast Asia!

The billion-dollar cyberfraud industry in Southeast Asia is booming, fueled by organized crime syndicates exploiting the latest in AI and cryptocurrency. The UNODC report notes that these criminal networks are outpacing government efforts to regulate and combat their operations. Urgent reforms and enforcement are needed to prevent further damage.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.