Shmuel Gutman | FinTelegram News

Tag: Shmuel Gutman

April 21, 2022

Bulgarian white-label operator StocksTech applied for a CySEC license!

A few weeks ago, we received whistleblower information that StocksTech Limited (prev. Straightpoint Trading Limited, registered in Cyprus, is the operator of the Bulgarian white-label broker platform provider StocksTech. Currently, it offers an online trading solution, including CRM, to brokers. The Stockstech co-founder and mastermind is the Bulgarian forex veteran Stefan Sotirov. The scheme's LinkedIn page lists an address in Sofia, Bulgaria. According to the latest information on the StocksTech website and LinkedIn, they applied for a full CySEC license.

February 28, 2022

Attention! PandaTS-powered broker scam stoxDC attacks European consumers!

stoxDC is another illegal broker on the PandaTS white-label broker platform. Heimdall Developments Ltd, registered in the Commonwealth of Dominica, allegedly operates the scheme. The payment gateway is operated by the anonymous Hong Kong-based SysPG (https://syspg.net). Customers can make deposits using credit and debit cards and AdvCash. For deposits via AdvCash, Website2 is acting as a fake merchant. We were alerted by a victim of the stoxDC broker scam that this and other broker scams until recently operated under the same PandaTS Vendor ID.

November 4, 2021

Urgent warning! Do not fall for the DAXIRON broker scam!

The ongoing crypto hype causes many scammers to look for new greedy victims via fraudulent marketing campaigns like YuanPay. Today, the website VIP Offer (https://vipoffer.net) is running this YuanPay campaign hunting victims for the DAXIRON (www.daxiron.com) broker scam allegedly operated by Synnfrey Sol Ltd on Commonwealth of Dominica. After registering with YuanPay, one was redirected to DAXIRON's payment page, where one can make deposits with credit and debit cards via ShinePays cashier.

Illegal Broker Activities

October 30, 2021

Watch this video! PandaTS and its scam clients!

The following video from 2015 shows a number of binary options and forex scams that operated as a white label solution of PandaTS and praises the company of Maor Lahav and Shmuel Gutman. Among them 10Markets, 99Binary, AlphaTrade, or CTOptions. PandaTS has been in the industry for many years and therefore the data seized by German law enforcement agents is probably a goldmine for their forensic team. Convicted Israeli cybercrime activist Gal Barak was also a customer with his scam brands XTraderFX and SafeMarkets.

October 5, 2021

FCA warns against PandaTS scam client Coinnery!

Broker technology and platform provider PandaTS is currently facing some hassles with law enforcement agencies from several jurisdictions. Law enforcement agents from the Israeli police and their counterparts from other jurisdictions reportedly raided PandaTS‘ offices in Israel recently. It is well known that the PandaTS platform is used by many scammers. The UK FCA has followed FinTelegram's assessment and issued an investor warning against PandaTS white-label scam Coinnery operated by Coinnery Ltd.

September 15, 2021

Another regulatory warning against PandaTS scam-client InvestXE!

We recently received a complaint from PandaTS because we reported on the scam clients of the Israeli FinTech of Maor Lahav and Shmuel Gutman. The General Legal Counsel threatens FinTelegram with legal action if we would not stop with the reports. However, the fact is that many large scams operate as a white label solution on their platform. This includes SafeMarkets or XTraderFX by Gal Barak. Currently, the InvestXE scam platform is also running on PandaTS. On September 15, the FMA in New Zealand issued a warning against InvestXE.

August 30, 2021

Attention! New broker scams on the notorious PandaTS platform

PandaTS is currently facing some hassles with law enforcement agencies from several jurisdictions. Among them, the Israeli ones. Agents from the Israeli police and their counterparts from other jurisdictions reportedly raided PandaTS' offices in Israel almost two weeks ago. And seized a lot of data. It is well known that the PandaTS platform is used by many scammers, such as the already convicted cybercrime principal Gal Barak. He has also accused PandaTS of manipulating trades for white-label platform clients. In his trial, Barak moved the Austrian court to order a search of his home in Israel and Cyprus.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.