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FinTelegram

January 23, 2022

The new life of collapsed iPayTotal and its founder Ruchi Rathor

FinTelegram has reported several times on the collapse of the notorious British-Indian high-risk payment processor iPayTotal. In Oct 2020, a UK court ordered the insolvency and liquidation of iPayTotal Ltd. In Oct 2021, the successor company iPaySolutions Ltd also filed for liquidation. Since then, iPayTotal has been relabeled into a FinTech software company operated by IPT Solutions PT, Portugal, which also runs the crypto payment platform CryptoMatix with iPayTotal co-founder Ruchi Rathor. Here is the update!

High-risk payment processors

January 23, 2022

A new version of vanished high-risk processor Octapay reappeared in Brazil!

In March 2021, we reported the disappearance of the high-risk processor OctaPay, which was allegedly the successor to the infamous collapsed iPayTotal. Both reportedly each disappeared with their merchants' money. In Feb 2021, Octapay Limited applied for a voluntary strike-off, suspended by Companies House. There is another version of OctaPay with a different domain and logo still active as a high-risk payment processor in Brazil. If and how these OctaPay ventures are related, we do not yet know.

August 28, 2021

Introducing high-risk payment processor Paypound and its interesting legacy

isappeared a few months ago. FinTelegram reported! According to our information, they had brutally ripped off a lot of their merchants. Among these merchants were also many operators of scams and cybercrime ventures that had stolen the money anyway. Paypound, a successor to iPayTotal and OctaPay, a whistleblower claims, has emerged and offers its payment services to the high-risk segment. Or so it says.

May 20, 2021

Breaking News – High-risk payment processor iPayTotal bids farewell

iPayTotal, perhaps the most notorious high-risk payment processor, is apparently closing down for good. This can be read on the website www.ipaytotal.com of the British-Indian company. This does not really come as a surprise. In November 2020, the UK High Court of Justice ordered the dissolution of the company. The company's business was transferred to iPaySolutions Ltd. Sen Kugan was appointed as director and registered as the beneficial owner. Now it appears that it is finally over.

May 9, 2021

OctaPay – The exposed fraud, the vanished money, and many open questions!

According to his LinkedIn profile, Christian van Biezen lives and works in Limassol, Cyprus, one of the European powerhouses of Forex brokers, which are part of a high-risk industry, whether regulated or unregulated. Consequently, a highly active high-risk payment processor scene has developed around these Cypriot forex brokers. OctaPay was one of them, and Christian van Biezen was its director until he realized it was defrauding its merchants. So he left in December 2020, exposing the crime. As a result, OctaPay and its people vanished with most of its customer funds.

July 21, 2020

UK FCA warns against RoyalGTX with connections to Estonian payment processors and PumaTS

The UK Financial Conduct Authority (FCA) has issued a public investor warning against the broker Scam RoyalGTX. This Broker Scam has indeed interesting connections to Estonian payment processors and is to be positioned via Juno Group Ltd in the environment of the Scam Broker Network of PumaTS. The RoyalGTX scam is facilitated by the payment processors iPayTotal and NeoBanQ. And there are other interesting connections.

Financial Analyst Update: Libra Token Scandal and New York Lawsuit

The Libra token ($LIBRA) scandal has escalated into one of the most significant cryptocurrency controversies of 2025, with a class-action lawsuit filed in New York spotlighting alleged misconduct by key players in the token’s launch. Here are the latest developments surrounding this debacle, including the legal action initiated by Burwick Law against Kelsier Ventures, KIP Protocol, and Meteora, as well as the broader implications for the crypto market and investors.

Urgent Warning: Beware of Suki Chen and the Streakk/Earn World Crypto MLM Schemes!

FinTelegram’s investigations, alongside whistleblower reports, reveal that Suki Chen (aka Sukijami Chendrawan) is the alleged founder of Streakk and successor scheme Earn.World. Both schemes are suspected to be pyramid or snowball schemes (MLM schemes) that have been promoting their own STKK token. These operations have been flagged as fraudulent and are under scrutiny for securities fraud and Ponzi-like activities.

Financial Intelligence Report: The Disappearance of Magua Pay and Black Rabbit – A High-Risk Payment Processor in the Scam Broker Ecosystem

Magua Pay Inc., a Vancouver-based money services business (MSB license M21111044) operating under the brand Black Rabbit, has vanished from the digital landscape as of March 2025. Both its primary website (magua_pay.com) and Black Rabbit’s site are either under construction or offline, signaling potential operational collapse or regulatory pressure. FinTelegram exposed Magua Pay as a payment facilitator of broker scams and unauthorized broker schemes,

Investor Briefing: SilverArrows Group and its Expanding Network

SilverArrows Capital Group, a global investment and advisory firm associated with high-profile figures such as Thomas Limberger, Robert Schimanko, and William H. Shawn, has recently come under scrutiny due to its proximity to the scandalous bankruptcy of Rene Benko’s Signa Group. The firm and its key personnel maintain strong ties to two seemingly influential yet opaque organizations in Germany and Austria.

Breaking: The World Economic Council (WEC), Rene Benko, and Israeli Services!

The collapse of the once-largest European real estate development group SIGNA of the Austrian Rene Benko continues to reveal new layers of intrigue, financial entanglements, and power struggles. While some focus on the billions lost by high-profile investors, the investigative platform Wiener Zocker has now uncovered a particularly exclusive network that has continued to thrive in Benko’s shadow – the World Economic Council (WEC).