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Tag: Ryan Coates

August 22, 2024

The Cartu Brothers and the GMM Fraud Scheme: An Absurdly Luxury Lifestyle Financed by Devasted Victims!

The recent arrest of Joshua “Josh” Cartu in Russia has reignited interest in one of the most notorious financial fraud cases of the past decade—the binary options scheme orchestrated by the Cartu Brothers, centered around the Irish company GreyMountain Management (GMM). Tens of thousands of victims worldwide are still seeking justice and the return of their lost funds, which allegedly financed the extravagant lifestyles of the Cartu Brothers.

July 26, 2023

Ulysses House Connection: DPO Pay Received License In Tanzania!

The online magazine PayRate42 News reported that DPO Pay, a Dublin-based payments processor founded in 2006 by Eran Feinstein and Offer Gat, has received approval from the Bank of Tanzania to operate as a Payment Service Provider. In 2021, DPO Pay was acquired by Network International (NI), a Dubai-based payments provider, for $291.3 million. DPO Pay had interesting connections to Wirecard and the binary options scheme GreyMountain Management Ltd (GMM).

March 20, 2023

Dear CFTC! Please Explain Why You Dismissed the Fraud Complaint In the Binary Options Case?

Regulators should protect investors and markets. In recent years, unfortunately, we have seen the total failure of regulators. They have failed to provide the emerging crypto segment with a regulatory framework. Previously, regulators could not control the vast fraudulent binary options scene, resulting in hundreds of thousands of victims and an estimated $50 billion in losses. Why the CFTC is withdrawing the fraud complaint against David Cartu is incomprehensible. And a dangerous signal of incompetence!

March 19, 2023

Binary Options Fraud Scheme Greymountain Management And The Irish Court Order!

The binary options scheme GreyMountain Management (GMM), run by the Cartu Brothers was probably one of the world's largest binary options fraud schemes between 2014 and 2017. According to various estimates, they received between €150 to 250 million from investors. The Irish High Court found that the Canadian-Israeli brothers David Cartu and Jonathan Cartu were shadow directors of the Irish GMM and actually ran the Irish company and the GMM fraud scheme. They are liable for investor losses.

December 13, 2022

Wirecard Trial: They Surely Had A Third-Party Acquiring Network!

In the second day of the Wirecard trial, defense attorneys delivered their opening statements. As expected, the defense attorney of former CEO Markus Braun argued that the controversial Third-Party-Acquiring (TPA) had taken place. On the other hand, the defense counsel of Oliver Bellenhaus, who is the prosecution's key witness, claimed that the TPA businessdid not exist. We are certain that the largely dirty TPA business did exist and that many illegal transactions and scams were conducted via it.

July 28, 2022

Breaking News – OSC Orders Cartu Brothers To Pay Millions In Fines And Disgorgement!

The dual Canadian-Israeli Cartu Brothers - David Cartu, Joshua Cartu, and Jonathan Cartu - have been notorious for their fraudulent binary options schemes around the Irish GreyMountain Management Ltd (GMM) and other entities across different jurisdictions. In Sept 2020, the U.S. CFTC filed a fraud complaint; the Canadian OSC has accused them of illegal and fraudulent brokerage. In May 2021, OSC settled with David Cartu, who agreed to a seven-year ban and a CAD 300,000 penalty. Now, Ontario's Capital Markets Tribunal ordered Jonathan Cartu and Joshua Cartu to pay CAD 3.3 million.

July 11, 2022

Cartu Brothers With Legal Troubles in Israel!

Whistleblowers have confirmed to us several times that law enforcement is looking for the Cartu Brothers. Recently, David Cartu and Jonathan Cartu were reportedly arrested in the United Arabe Emirates (UAE) on the basis of a Red Notice. Interpol issued Red Notices for fugitives wanted either for prosecution or to serve a sentence. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.

July 2, 2022

Breaking News! Israeli-Canadian Cartu Brothers Allegedly Arrested In UAE!

We recently reported on a new lawsuit filed by victims against the missing binary options scheme centered around the notorious Cartu Brothers and GreyMountain Management (GMM) in Ireland. The multi-million dollar lawsuit was brought against David Cartu and Jonathan Cartu, as well as GMM directors Ryan Coates and Liam Grainger. The U.S. CFTC also has a fraud lawsuit pending. Reportedly, David Cartu and Jonathan Cartu (but not Joshua Cartu) were arrested in UAB on a Red Interpol warrant. A whistleblower has just told us this. We would like to know more.

June 29, 2022

The Cartu Brothers And Their Directors Sued In Ireland Over Alleged Binary Options Fraud!

The Canadian-Israeli brothers David Cartu and Jonathan Cartu, together with Joshua Cartu, are at the very center of a gigantic binary options fraud scheme around the Irish GreyMountain Management Ltd. The Irish Times reports that the Florida-based investor William Thomas Powers and more than 30 other investors sue David Cartu, Jonathan Cartu, and the former Irish directors Ryan Coates and Liam Grainger over more than $4 million in losses. GreyMountain Management Ltd was wound up. The court case started on 28 June 2022 before Justice Michael Twomey.

November 25, 2019

WireCard Issue in Ireland – How binary options scheme operator GeyMountain Management became a related WireCard company

The listed German Fintech WireCard is being shaken by a crisis that has lasted for months. The situation was triggered by reports in the Financial Times..

July 18, 2019

Broker Scams: BinaryBook, GreyMountain, Payobin and the compliance issue

In the US, the landmark trial in the Yukom Case began on July 16, 2019. The accused are Lee Elbaz, the former CEO of Yukom,..

July 15, 2019

GreyMountain Case – Irish HighCourt admitted investors’ lawsuit to fast track Commercial List

Good news for the victims of the GreyMountain Management (GMM) scams of the Israelis David Cartu and Jonathan Cartu and their partner Uri Katz. According..

Financial Intelligence Report: Lykke Exchange Collapse

Swiss crypto exchange Lykke has collapsed following a major security breach in June 2024, resulting in the loss of approximately $22 million in customer funds. The incident led to the suspension of trading activities, bankruptcy proceedings, and significant financial losses for investors. This report analyzes the events leading to Lykke's downfall, the impact on stakeholders, and the ongoing legal actions.

Hunting Down: Background on The Arrest of Garantex Co-Founder Aleksej Bešciokov in India!

On March 13, 2025, Indian authorities arrested Aleksej Bešciokov, a Lithuanian national and alleged co-founder of the sanctioned Russian cryptocurrency exchange Garantex, in Kovalam, Kerala. The arrest followed an international law enforcement action Bešciokov now awaits extradition to Lithuania on charges of money laundering, sanctions evasion, and facilitating ransomware transactions.

Call to Whistleblowers: What Is the World Economic Council (WEC) Really Up To?

The financial world in Europe is still reeling from the collapse of Rene Benko’s Signa Group, one of the largest and most scandalous bankruptcies in European history. Amid the rubble, a curious pattern has emerged: leading figures from the World Economic Council (WEC) — including Robert Schimanko, Thomas Limberger, and their legal advisor and business partner William H. Shawn — have quietly moved into strategic leadership positions within foundations linked to Benko.

Kraken’s $1.5 Billion NinjaTrader Acquisition Signals Bold Expansion Ahead of 2026 IPO

Kraken has acquired NinjaTrader in a $1.5 billion deal, marking a strategic leap toward uniting traditional finance with the crypto ecosystem. The move not only diversifies Kraken’s offerings but also sets the stage for its anticipated public listing in 2026. The timing aligns with renewed optimism in the crypto sector, driven by expectations of more favorable regulatory conditions under U.S. President Trump.

FinTelegram

Profile & Regulatory Analysis: Russian-Israeli Crypto Banker Moriel Carmi (formerly Mark Weinstein) and the Case for FCA Scrutiny

This report presents a comprehensive and objective profile of Moriel Carmi, a Russian-born Israeli financier previously known as Mark Mikhailovich Weinstein, who has emerged at the center of a growing network of high-risk payment processors and crypto service providers. Following a landmark ruling by the AIFC Court in Kazakhstan, questions now arise about Carmi’s regulatory fitness within the UK, where he operates the FCA-regulated e-money institution TomPay Ltd.