Tag: OpenUp

FinTelegram has already reported that the UK entities behind the high-risk payment processors, Kryptova, Bitmatix, and Paypound are in the process of being dissolved. The UK Companies House announced that the companies cease to exist via voluntary strike-off as of April 18, 2023. They belong to the network of notorious Indian payment veteran Ruchi Rathor. Merchants should take the best care of their money and avoid black-listed Kryptova, Bitmatix, and Paypound.

We received new victim reports! Bulgarian-based Shadelake Ltd has hunted victims for over a year with broker scams. We have already issued several warnings. With Deluxe Royals, a new scam is currently active again. On the other hand, Royal Capitals and EuroTrade Invest have vanished. As facilitating payment processors, we found OpenUp, ArdelixPay, ChargeMoney, or RESET for credit card payments. You should stay far away and protect your financial health and data.

Now it's official! The two high-risk payment processor schemata Kryptova and Paypound from the environment of the notorious Indian payment veteran Ruchi Rathor are officially operated via the offshore company Next Ring LLC in Nevis. Until recently, the two UK-registered companies, Kryptova Biz Ltd and Self Pay IO Ltd, were the official operators. These are now in the process of voluntary strike-off. The new Nevis address is included in the Offshore Leaks Database.

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.

FinTelegram has received extensive documentation from a former OpenFinance executive stating that Ruchi Rathor is the beneficial owner of the Denmark-based high-risk payment processor. The official shareholder is the Portuguese-registered Chestnut Investments - Unipessoal LDA, where Portuguese-based Russian Svetlana Ivanova is registered as a director. The documents also show that Rathor's various high-risk processors work with fake people. Merchants should be highly alerted!

Reportedly, Indian payment entrepreneurs Ruchi Rathor, her son-in-law Yuvraj Singh and their family are allegedly residing in Dubai. There they enjoy the money they earn through the merchants of their numerous high-risk payment processors. Every week we receive complaints and warnings against various schemes like PayPound, Payomatix, or OpenUp. With Pay Agency, Rathor has launched the next project to address the high-risk payment segment. We recommend merchants and the highest caution.

We received new victim reports! The Royal Capitals, Eurotrade Invest Group, and CrystalsCapitals are broker scams, chasing after victims via fraudulent crypto campaigns and fake news articles. Anyone who registers there is automatically redirected to the scam's payment page. The operator is allegedly Shadlake Ltd, registered in Bulgaria. As facilitating payment processors, we found OpenUp, ArdelixPay, ChargeMoney, or RESET for credit card payments. You should stay far away and protect your financial health and data.

High-risk processor Payomatix is one of the many payment ventures of the notorious British-Indian Ruchi Rathor, the mastermind behind the collapsed payment scheme iPayTotal scheme. Just recently, Rathor launched the RaiseMoney initiative, an online community assisting entrepreneurs and investors in their early-stage financing. The legal entity behind this new scheme is Payomatix Technologies Pvt Limited, a company black-rated on PayRate42. We advise merchants and investors to be super-cautious!

The Royal Capitals broker scam is promoted via fraudulent crypto campaigns like Bit IQ and fake news articles. Anyone who registers there is automatically redirected to the scam's payment page. The operator of Royal Capitals is allegedly Shadlake Ltd, registered in Bulgaria. As facilitating payment processors, we found OpenUp, ArdelixPay, ChargeMoney, or RESET for credit card payments. They should stay far away and protect their financial health and data.

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.

In Nov 2020, a UK court ordered iPayTotal Ltd to go into insolvency and liquidation. Many millions disappeared in the collapse of the British-Indian high-risk payment scheme. The beneficial owners were Ruchi Rathor, Anirudh Pratap Singh Rathor, and Anurag Pratap Singh. They operate several successor schemes through legal entities in India and Europe. Ruchi Rathors future son-in-law, Yuvraj Singh, is the mastermind behind OpenUp, Kryptova, and BitMatix. Merchants should avoid these payment schemes.

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.