Ruchi Rathor | FinTelegram News

Tag: Ruchi Rathor

July 9, 2023

High-Risk Payment Processor Hawex With New Controlling Person!

We have already brought several reports about the FCA-regulated Latvian-Russian high-risk payment processor Hawex. According to our information, the notorious Indian high-risk payment veteran Ruthi Rathor is one of the partners. The Hawex website says the operator is in a legal entity with company number 233581 in the UAE. However, as of a few days ago, the beneficial owner of the FCA-regulated entity is the Latvian Romans Netrekrutento. Here is the update.

April 12, 2023

Merchant Alert: UK Entities Of High-Risk Payment Processors Kryptova And Bitmatix Dissolved!

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.

March 5, 2023

High-Risk Payment Processors Kryptova And Paypound Finally Escaped To Nevis!

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.

March 5, 2023

Merchant Alert: Indian High-Risk Payment Processor RagaPay Received Orange Compliance Rating!

The high-risk payment segment has been booming for decades. The business has high margins, as we know from the Wirecard process. The number of high-risk merchants is constantly growing, and with it, the demand for payment services. Unfortunately, most high-risk payment processors are dubious and regularly rip off merchants. RagaPay is an Indian-controlled venture. The cyber rating agency PayRate42 has placed it on the black compliance list.

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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

Merchant Alert: High-Risk Payment Processor BitMatix Applied For Voluntary Strike-Off!

The high-risk payment processor BitMatix is part of Ruchi Rathor's network and is operated by her son-in-law Yuvraj Singh. Until recently, BitMatix IO Ltd in the UK was listed as the operator. On January 23, 2023, a voluntary strike-off request was filed by the company. As with the other UK companies in the network, Kryptova, and Paypound. The BitMatix website now states a BitMatix Inc. as the operator. We have not been able to find this company and advise merchants to be super-cautious.

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!

February 10, 2023

Notorious High-Risk Payment Veteran Ruchi Rathor And Her Remarkable Twitter Statements!

Notorious Indian payment veteran Ruchi Rathor has raised a dark empire of high-risk payment processors over the past few decades. In the process, payment processors like iPayTotal regularly disappear with their merchants' money. Most recently, there was a verbal battle on LinkedIn between Rathor's Paypound and a merchant who felt cheated (report here). Now, for the first time, Ruchi Rathor has made public statements on Twitter, indirectly confirming the allegations.

January 24, 2023

Merchant Alert: High-Risk Payment Processors Kryptova, Paypound, and BitMatix About To Vanish?

On January 23, 2023, a deletion request was submitted for the three companies Kryptova Biz Ltd d/b/a Kryptova, Self Pay IO Ltd d/b/a Paypound, and Bitmatix IO Ltd d/b/a Bitmatix. These high-risk payment processors are part of the network of Indian payment entrepreneur Ruchi Rathor and her family. In recent weeks, many complaints have been made, especially on LinkedIn, about these high-risk payment processors. The websites are online!

January 19, 2023

Merchant Alert: High-Risk Payment Processor OpenUp Works With Fake People!

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!

January 18, 2023

Merchant Alert: New iPayTotal Joint Liquidators Report Missing Assets And Millions!

The Joint Liquidators of bankrupt iPayTotal, which belongs to the group of high-risk payment processors of the Indian group around the notorious Ruchi Rathor and the Pratap Singh family, submitted its second progress report on January 16, 2023. There is not much new information in it. The Joint Liquidators report no assets. Nine former customers (merchants) have filed claims of around $2.2 million. Millions vanished from the company into the pockets of the participating individuals.

High-risk payment processors

January 17, 2023

Update On High-Risk Payment Processor Hawex Group And Its Russian Connections!

The motto of FCA-authorized payment agent Hawex is "above the banks." The UK entity Hawex Group was controlled by Russian Kirill Baldakov until March 2022. Since October 2022, Hawex Investment LLC, registered in Dubai, has been controlling the UK entity. A UBO is not specified, but allegedly, it is still a Russian venture. According to our information, Indian payment veteran Ruchi Rathor is one of the Hawex partners. We reported Hawex's collaboration with FCA-regulated Connectum (report here).