Watch Out BaFin! Notorious high-risk payment processor Fibonatix goes Berlin!

High-risk payment processor Fibonatix of Tal Miller
Spread financial intelligence

This is perhaps not too good news for the German regulator. Fibonatix, founded by the Israeli Tal Miller, is a notorious high-risk payment processor. It has been facilitating dozens of broker scams. Fibonatix was also one of the payment processors of Gal Barak‘s cybercrime organization E&G Bulgaria. Barak confirmed that in addition to Payvision, Fibonatix was laundering stolen funds. Fibonatix, regulated as a payment institution by the FCA since 2018, announced the opening of an office in Berlin. It plans to serve to put a specific focus on the DACH region! Well, let’s turn the spotlight on!

Key Data

Legal entitiesFibonatix (UK) Limited, Fibonatix Financial Services Limited, Fibonatix (DE) GmbH, Fibonatix (Israel) Ltd
JurisdictionsIsrael, United Kingdom, Germany
Key peopleTal Miller, Yoni Shalom, Roi Lagziel, Alex Shwartz, Ori Levy, Miri Maham, Chris Algie, Liron Cohen
RegulatorUK Financial Conduct Authority (FCA)
Facilitated cybercrime organizationsYukom Enterprise (BinaryBook), E&G Bulgaria (several brands), Alpha Capital House Limited (Tradorax), and counting

Background information

Tal Miller CEO at Fibonatix

Tal Miller (LinkedIn) established Fibonatix (DE) GmbH in 2019 with the registered office at the address of the Berlin attorney Patrick Rubin. According to the press release, the German offices would be located at the prestigious address at Kurfürstendamm 42 in Berlin. Tal Miller is the sole director of the company. He is also a director of FCA-regulated Fibonatix (UK) Limited and Fibonatix Financial Services Ltd, where he states his nationality as Lithuania. On the other hand, in the FCA-regulated entity, he gives Israel as his nationality.

Facilitating scams

Fibonatix facilitated binary options scam BinaryBook

Fibonatix has been facilitating huge binary options scams such as Tradorax or BinaryBook. According to U.S. prosecutors’ findings, Fibonatix laundered at least $22 million for the binary options scam BinaryBook in 2015 and 2016 (see statement right). The operator of BinaryBook was Israel-based Yukom Communications Ltd, whose CEO Lee Elbaz was sentenced to 22 years in prison by a U.S. court in 2019 for operating BinaryBook and other scams for fraud of at least $140M.

Gal Barak was sentenced to four years in prison for investment fraud and money laundering in Vienna in September 2020. Several court cases against Barak’s accomplices are currently underway in Germany. Most recently, his former lieutenant Tal-Jacki Fitelzon pleaded guilty and will receive a prison sentence between 6.5 to 7 years. Kfir Levy was arrested in October 2021 and will stand trial soon. German prosecutors also want to charge Gal Barak and his wife Marina Barak with investment fraud and money laundering. In this respect, it could also become exciting again for Fibonatix in Germany.

If you have any information about Fibonatix, Tal Miller, and his partners, please share it with us via our whistleblower system, Whistle42.

Leave a Reply

Your email address will not be published. Required fields are marked *