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Tag: Ralph Hamers

April 25, 2023

Attention: Dutch Lawyer Starts Legal Action Against Payvision!

It was early 2019 when a year-long investigation by law enforcement agencies resulted in the arrest of two cybercrime masterminds, Uwe Lenhoff and Gal Barak, took place. Both were clients of Rudolf Booker's high-risk payment processor Payvision with their scams. Lenhoff was even a sales partner of Payvision. Now the Dutch lawyer Marius Hupkes is also taking action against Payvision in Amsterdam on behalf of scam victims and invites them to contact him.

April 5, 2023

Payvision And Frank: The Two Big FinTech Takeover Disasters And The Different Consequences.

Recently, Charlie Javice was arrested in New York and charged with fraud. She is the founder and former CEO of fintech Frank, which JP Morgan bought for $175 million. She allegedly misled JP Morgan about the true state of the company. In 2018, ING acquired Payvision, founded by Rudolf Booker, at a valuation of €360 million. ING expected Payvision to be a different company. The fintech made most of its revenue from merchants in the porn and gambling sectors - and with scammers.

March 29, 2023

Ralph Hamers UBS Resignation May Or May Not Be Related To Ongoing Dutch Investigations And The Payvision Disaster!

As reported by FinTelegram, the former ING CEO Ralph Hamers will step down from his job as CEO of Switzerland's UBS Group at the beginning of April 2023 after nearly 29 months on the job. He will be replaced by a predecessor Sergio P. Ermotti. This surprising move may be related to the acquisition of Credit Suisse, or it may be related to ongoing investigations into money laundering in Holland. It has not yet been decided whether charges will be brought against Hamers.

March 29, 2023

Breaking: UBS CEO Ralph Hamers Replaced By His Predecessor Sergio P. Ermotti!

The UBS Board appointed Sergio P. Ermotti as Chief Executive Officer after its planned acquisition of Credit Suisse. Ralph Hamers agreed to step down but will remain at UBS as an advisor during a transition period to ensure a successful closure of the transaction and a smooth handover. Hamers was the highest-paid banker in Europe in 2022 but was also controversial. He is responsible for ING's disastrous acquisition of Payvision and is involved in money laundering investigations.

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March 9, 2023

UBS Group CEO Ralph Hamers Was Best-Paid Bank Boss in 2022!

Ralph Hamers joined Swiss UBS as CEO in 2020 to become one of the highest-earning bank bosses in Europe, Financial Times reports. Previously, as CEO at Dutch ING, Hamers had complained about his pay level at ING, which was subject to strict EU rules on banker pay. He enjoyed an 11% pay bump in 2022 to become Europe’s best-paid bank boss. The Dutch executive earned $13 million in salary and bonuses, up from 11.73 million in 2021.

March 9, 2023

Vanished: Disgraced ING Subsidiary Payvision Seems To Be Gone Without Compensating Victims!

We had already been expecting this for a few weeks. Since the Dutch banking giant ING announced in October 2021 that it would phase out Payvision, it was clear that at some point, quietly and secretly, the high-risk payment processor founded by Rudolf Booker would disappear. For ING, Payvision, acquired in 2018 under then-CEO Ralph Hamers for a reported €400 million, was a huge financial and reputational flop. Court documents to CEO Andre Valkenburg can no longer be served!

March 3, 2023

Not ING! How U.S Banking Giant JP Morgan Deals With Its Disastrous FinTech Takeover Deal!

In the U.S., the banking giant JP Morgan paid $175 million for Frank, a fintech startup founded by former CEO Charlie Javice in 2016. Frank offers software to improve the student loan application process for young Americans seeking financial aid. Now, JP Morgan is suing the 30-year-old founder and the startup's former Chief Growth Officer, Olivier Amar for allegedly lying about its scale and success by creating an enormous list of fake users to entice the financial giant to buy it.

September 4, 2022

Wealthfront: UBS CEO Ralph Hamers Lands The Next Big Digital Banking Desaster After Payvision!

The Dutch UBS CEO Ralph Hamers allegedly prides himself on his digital banking expertise. However, this is not backed up by recognizable achievements. On the contrary. Most recently, UBS announced that its prestigious $1.4 billion deal with digital wealth manager US Wealthfront, announced in January 2022, has been canceled. No reason was given. Already in his time as CEO of Dutch ING, Ralph Hamers made a $450 million mistake in 2018 with the acquisition of Payvision. In 2121, ING announced the termination of the Payvision business.

December 13, 2020

Money Laundering Challenge – UBS CEO Ralph Hamers struggles with his ING and Payvision legacy

Ralph Hamers has only been the new CEO of Swiss UBS for a few weeks. For a few days now, he has been struggling to survive in his new job. An old money-laundering scandal of the ING came up again. The bank signed a settlement with the public prosecutor's office and had to pay the record fine of €775 mio. A ruling by The Hague Court of Appeal now forces the Dutch prosecution to start a probe into Hamers' responsiblity. Money-laundering is no longer perceived as a legally irrelevant trivial offense by bank directors.

December 13, 2020

Money Laundering Challenge – UBS CEO Ralph Hamers struggles with his ING and Payvision legacy

December 9, 2020

Breaking News – The Hague Court of Appeal ruled that former ING CEO Ralph Hamers can be prosecuted for money-laundering

The ruling of the Court of Justice in The Hague ruled that the former CEO of ING, Ralph Hamers can be prosecuted for an ING money-laundering scheme. In 2018, ING admitted that it had facilitated money-laundering agreed to pay €775 million to settle the case. Some individuals, however, had filed criminal complaints against the then ING CEO Ralph Hamers but the public prosecutors' office in Amsterdam had rejected the charges and declared them inadmissible. The court in The Hague has now admitted the charges.

December 9, 2020