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Tag: Tradologic

September 4, 2021

Israeli fund recovery schemes chasing scam victims

Israeli fintech pundits also invented binary options industry. Big players like SpotOption, PandaTS, or Tradologic had thousands of binary options schemes running on their platforms as white-label clients. Binary options turned out to be ultimately a gigantic fraud industry. Conveniently, fund recovery companies have also emerged in Israel, often run by former scammers. Schemes like Europe Refund or MyQuickRefund run massive Google Ad campaigns to acquire scam victims and sell their expensive services.

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.

April 22, 2021

Chasing Scam Facilitators – The Vienna Cybercrime Trials, SpotOption, and PandaTS

Israeli Gal Barak was sentenced in September 2020 to four years in prison and millions in restitution payments for investment fraud and money laundering in the Vienna Cybercrime Trials. Barak also faces charges in Germany. He was the head of the cybercrime organization E&G Bulgaria, which operated broker scams such as XtraderFX, SafeMarkets, Golden Markets, or OptionStarsGlobal. Payvision was its main payment facilitator, and PandaTS, the white label provider, which Barak charges with similar arguments as the U.S. SEC does in its SpotOption fraud complaint.

August 26, 2020

Vienna Cybercrime Trials – A weird confession and the sudden death of an important witness

Gal Barak, the alleged Israeli principal of the cybercrime organization E&G Bulgaria had to stand trial again today in court in Vienna today. He is accused of operating several broker scams for investment fraud and money laundering. He can not understand this at all, he told the court today. Thousands of other such scams are online and nobody else but him is accused he complained. Barak made a rather bizarre confession and finally, the written testimony of a former retention manager was read. Unfortunately, this witness died mysteriously shortly after his testimony.

July 15, 2020

PumaTS – Israeli-Bulgarian White Label Broker Platform Provider Vanished

On 23 June 2020 FinTelegram News issued a Request for Information (RFI) concerning the white label broker platform Puma Trading Solutions aka PumaTS operating in Bulgaria. We wanted to know more about this platform and the company and the people behind it. Officially the PumaTS White Label Broker solution is operated by the Bulgarian Marketing and Consulting Ltd. At least this company concludes the license, marketing, and platform services agreements with its clients. In response to our RFI, the PumaTS website that was available at www.pumats.com has disappeared. Fortunately, FinTelegram received plenty of intel on PumaTS.

February 27, 2020

Exposed – Suspected Russian money-launderer, alleged cybercriminals, and binary options scammers evidently invested millions in Telegram’s Gram token placement

On 31st January 2019, the Austrian Meinl Bank (now “Anglo Austrian AAB Bank“) made a suspicious money laundering report to the authorities against the Russian..

July 22, 2019

Broker scams and fund recovery – FinTelegram and EFRI arrived in Israel

At the end of last year, FinTelegram set up the European Funds Recovery Initiative (EFRI) together with the auditor Elfriede Sixt, other partners and with..

May 26, 2019

Gal Barak snitches on Uwe Lenhoff, denies any partnership but confirms legal troubles

FinTelegram possesses literally dozens of documents which provide evidence of close cooperation between the German Uwe Lenhoff and the Israeli Gal Barak. In 2015, for..

May 7, 2019

Scam Broker Industry Powered By Israeli PandaTS Solutions

The illegal and fraudulent broker schemes have already defrauded dozens of thousands of victims in North America, Europe, and Asia. Retail investors lost billions of..

May 2, 2019

Cybercrime Network – Gal Barak’s Fellow Shareholders Distance Themselves From Wrongdoings

Two of the principals of a global cybercrime organization, Gal Barak and his partner Uwe Lenhoff, were arrested in January/February 2019 as part of an..

April 3, 2019

Gal Barak, Illegal Broker Schemes, And “Follow The Money Report II”

In part I of our “Follow The Money Report” regarding the illegal broker schemes of Gal Barak, Marina Andreeva, Itzik Gellet and their E&G Bulgaria..

March 27, 2019

Wirecard, GreyMountain, And The Binary Options Fraud Machine (Part II)

In part I of our reports on the Wirecard involvement in the binary options industry we exposed the company’s partnership with Israeli SpotOption, the leading..