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Tag: P2P

July 19, 2022

Shame On You! German Authorities Fail To Make Millions Of Restitution Payments!

FinTelegram has reported several times between 2018 and 2019 about illegally operating German payment processors that supported binary options and broker scams. Among these illegal German payment processors were P2P GmbH and B2G GmbH. EFRI filed money laundering charges against the two companies; German prosecutors subsequently filed charges and seized €2.5 million of P2P bank accounts in 2019 but, to date, failed to make restitution payments to victims. On the contrary, the millions will remain with the German state for a long time: a scandal but this time on the side of the German prosecutors and courts.

January 5, 2022

Urgent Warning – Do not work for the illegal payment processor A B Group!

Illegal payment processors are an essential element for cybercrime activities such as scams. Over the last few years, Germany has built a dark reputation in this regard. Numerous illegal payment processors such as B2G, TrustSecure, or P2P have laundered funds for dozens of scams. BaFin has now announced investigations against the illegally operating payment processor A-B Group a/k/a A-B Group Online. The company acquires home office workers with the purpose of opening bank accounts under their ID.

December 9, 2021

German prosecutors charge payment processor and scam-facilitator P2P!

The public prosecutor's office in Cologne has filed charges against the responsible operators of the illegal payment processor P2P GmbH ("P2P"), which acted as a scam-facilitating payment processor for numerous major binary options and broker scams. Gal Barak's E&G Bulgaria criminal files show that P2P processes millions of victims of their various scams. With the P2P indictment, the Cologne prosecutor's office has charged the second illegal payment processor following a criminal complaint of EFRI. We reported about the B2G indictment recently.

November 6, 2021

Whistleblower Call – Let’s find the people behind vanished scam HybridReserve

The HybridReserve broker scam vanished sometime in 2020. It has defrauded thousands of victims during its active period between 2018 and 2020. Several financial market regulators in Australia and Europe have issued warnings against the scam. The vanished website was owned and operated by the offshore entity SingleBell LTD, Saint Vincent & the Grenadines, and the unlicensed Estonian SingleBell OÜ, One of the facilitating payment processors has been the German P2P GmbH, which is investigated by German law enforcement agencies.

October 7, 2020

Law Enforcement request for information for HybridReserve broker scam

FinTelegram was asked by an EU law enforcement agency to ask for information about the broker scam HybridReserve. The authorities have received several fraud complaints from retail investors. Already in February 2019 the Belgian regulator Financial Services and Markets Authority (FSMA) and other regulators issued an investor warning against HybridReserve, which is operated by Singlebell Ltd in St. Vincent and the Grenadines and Singlebell OÜ from Estonia.

May 14, 2020

The EFRI Mission – Involving Regulators and Prosecutors to Recover Funds for Defrauded Investors

The European Funds Recovery Initiative (EFRI), co-founded by FinTelegram, is specialized in the recovery of funds of investors who have been defrauded by investment scams. Furthermore, EFRI sees itself as an advocate for investors and investor protection. Currently, EFRI has been granted a Power of Attorney by more than 800 victims which have been defrauded of more than EUR 34 million. The approach applied by EFRI differs in several aspects from the activities of lawyers and other organizations in the recovery business. Also because EFRI is organized as an initiative and association of victims.

March 27, 2019

XTraderFX Fraud Scheme Or How To Ride A Cannonball

Baron Munchausen is a fictional German nobleman created by the German writer Rudolf Erich Raspe in his 1785 book Baron Munchausen’s Narrative of his Marvellous Travels and Campaigns in Russia. The..

March 21, 2019

EFRI Launch Campaign To Address Payments Services Providers Responsibility In Illegal Broker Schemes

Defrauding investors would hardly be possible without the willful or at least grossly negligent involvement of payment service providers (PSP). Through these PSPs, the operators..

March 1, 2019

Unauthorized German Payment Services Providers Facilitate Fraud Of Blue Trading And Other Illegal Broker schemes

Over the last couple of months, FinTelegram has been working with authorities and the Organized Crime and Corruption Report Project (OCCRP) to fight the illegal..

February 28, 2019

Blue Trading Broker Scam – First Updates And Preliminary Conclusions

Since our request for information in connection with Blue Trading and Onyx Capital, more than 150 affected parties have contacted us. In addition, we have..

Portrait of Hindenburg Research: A Constructive and Critical Analysis of a Transforming Short-Seller!

With the announcement by founder Nate Anderson that Hindenburg Research is winding up its operations, this report serves as a reflection—an obituary of sorts—on the firm’s impactful yet polarizing journey. Over seven years, Hindenburg transformed the landscape of activist short-selling, exposing corporate misconduct and reshaping market narratives.

End of an Era: Hindenburg Founder and Finfluencer Nate A!nderson Shakes Empires, Then Closes the Curtain!

Nate Anderson, founder of Hindenburg Research, has announced the closure of his firm, marking the end of a significant chapter in activist short-selling. Established seven years ago, Hindenburg gained prominence for exposing corporate misconduct in companies such as Adani, Nikola, Clover Health, DraftKings, Block, Icahn Enterprises, Super Micro Computer, and Twitter.

Compliance Report: Australian Regulator’s Q4/24 Findings on Illegal Online Gambling Operations Around Softswiss and Others!

The Australian Communications and Media Authority (ACMA) has continued its crackdown on illegal online gambling websites, focusing on operators violating the Interactive Gambling Act 2001. This report analyzes the regulator's recent actions in the context of known illegal casino schemes, particularly those associated with Dama N.V. and Softswiss.

SEC Sues Elon Musk Over Twitter Stock Purchases

Elon Musk faces fresh legal trouble as the SEC alleges he violated U.S. securities laws by failing to disclose his early 2022 Twitter stock purchases on time. By delaying the disclosure, Musk reportedly saved $150 million in additional costs. There is also an opinion in the market that the SEC's action is politically motivated, as Musk is known to be a close confidant and supporter of incoming President Donald Trump.

Compliance Analysis Report: Court Order Against Crypto Exchange BitMEX!

The crypto exchange BitMEX has been ordered to pay a $100 million fine for violations of U.S. anti-money laundering (AML) laws. This decision concludes a prolonged legal battle concerning BitMEX's non-compliance with regulatory requirements between 2015 and 2020. This case highlights the growing enforcement actions against crypto platforms that fail to implement adequate AML measures.