The illegal German payment processors are very popular among the worldwide scammer community. Companies like B2G of Rainer Treuer and his Russian partner Oleg Shvartsman have processed tens of millions of scammers like Gal Barak or Uwe Lenhoff and contributed to the fraud of tens of thousands of small investors. In October 2020, BaFin issued a Cease and Desist Order against the German Egramming, which allegedly facilitated the crypto scam Capital Coin Exchange, among others. The order is final now!
According to the BaFin order, the German Egramming GmbH accepts funds from private persons on its own accounts for the sole purpose of transferring these funds to mainly foreign accounts of companies based abroad. Among these companies would have been the operators and/or owners of the “unlicensed trading platforms as capital-coinexchange.com.” Founded in March 2020, Egramming is registered in Berlin and has Bulgarian citizen Maykal Petrov as its sole director. The company is registered as an IT, programming, and marketing venture. Well, and it also offered illegal payment services.
The Capital Coin Exchange scam was active under the domains www.capital-coinexchange.com and www.capitalcoinx.com. It is currently no longer accessible and has apparently disappeared with the money of numerous investors. The scam was operated by the UK registered Direct Coin Ltd, where Latvian Artjoms Molotkovs, born in June 1984, is acting as a director and beneficial owner.
Numerous warnings have been issued against Capital Coin Exchange scam. These include a warning from the UK Financial Conduct Authority (FCA) and an investor alert from lawyers such as Herfurtner in Germany.
Evidently, the German Egramming GmbH facilitated this scam as a co-conspirator, which is a criminal offense. Therefore, not only BaFin should take action against the scam and its operators, but also the respective German law enforcement agencies.