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Category: FinTelegram

September 16, 2021

Gery Shalon – The Plea Deal and the forfeited fortune of a cybercrime mastermind

In 2015, U.S. prosecutors charged the Georgia-born Israeli citizen Gery "Gabi" Shalon in a twenty-three count Superseding Indictment. He was charged with computer hacking, securities fraud, aggravated identity theft, illegal online gambling, illegal money transmitting business, and money laundering. Most of the files are still unsealed. What is known now is that in April 2017, Shalon has pled guilty to all 23 counts and made a plea deal with prosecutors that included transferring all seized funds and assets to the United States. We are talking about a real big fortune. We are talking about a real big fortune including a $74.7M bank account.

September 15, 2021

Alert! Wellington Holdings scam facilitated by SysPay, Coinicash, and AdvCash

The Swiss regulator FINMA has recently issued an investor warning against the Wellington Holdings scam (www.wellingtonholdings.com). The scam operators do not disclose any information about the legal entity or persons but give Bleicherweg 10 in 8002 Zurich, Switzerland, as the address. This is bullshit, says FINMA. As a payment processor, we once again found SysPay, regulated by the Maltese regulator MFSA, in criminal collusion with Coinicash and AdvCash. We also noticed this combination most recently in the Cento GX scam.

FinTelegram

September 9, 2021

German BaFin investigates Apollos Finance scam and its operators

FinTelegram has already warned about Apollo Finances several times. Now German BaFin is investigating the scam. The Apollo Finances broker scam is operated with the domains www.apollofinances.com and www.apolofinance.com by MGX Consalt Group Ltd, registered in the Marshall Islands. The payment processor PayTechno of the Israeli Asaf Itzak Rubin, which facilitates the scam, also lists this offshore company as a merchant. In our reviews, we also discovered iPayTotal and NeoBanQ as payment processors.

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 10, 2021

CFTC’s Notice of Allegation in the fraud complaint against Cartu Brothers and other Defendants

The U.S. CFTC filed a fraud complaint against David Cartu, Joshua Cartu, Jonathan Cartu ("Cartu Brothers"), and others in September 2020 alleging vast binary options fraud in the amount of $165 million. The lawsuit could not be served by the CFTC or the relevant U.S. court. So, the CFTC, through paid advertisements in media outlets such as The Times of Israel, has conceded notice of the lawsuit, including notice of meetings and deadlines. Below is yesterday's advertisement from the Times of Israel. As a courtesy to the CFTC and in support of the victims, we are also posting this Legal Notice here on FinTelegram.

July 29, 2021

We proudly present litigation & recovery funder CyTel42

Fighting illegally operating brokers, scammers, and cybercrime is one thing. Even if we expose these illicit activities on FinTelegram, the victims do not automatically get their money back, let alone justice. A case in point is the case of the already convicted Israeli cybercrime kingpin Gal Barak and his supporting payment processor Payvision. Barak's victims are waiting for their money. Thus we initiated and co-founded the litigation & recovery funder CyTel42 Group AG in Vienna together with EFRI.

July 16, 2021

FinTelegram launches Law & Compliance Enforcement Support Initiative

We have been cooperating with law enforcement agencies in various countries since the launch of FinTelegram. As insiders and friends know, the establishment of FinTelegram came about as a means of fighting cybercriminals who were taking action against the founders and operators of FinTelegram. These cybercriminals at the time were German Uwe Lenhoff and Israeli Gal Barak. Both were arrested in early 2019, also thanks to the cooperation between FinTelegram and law enforcement.

July 6, 2021

Spanish CNMV warns against new scams and their operators

It's high summer in Europe, but scammers are very active despite the unbearable heat in some regions. Yesterday, the Spanish regulator CNMV issued a series of investor warnings against financial scams and their operators. In total, the CNMV has issued warnings against seven scams which we have listed below. Use the high summer for your vacation, and please stay far away from the scams. You certainly do not need this thrill. Keep your money and have a good time with it.

July 5, 2021

The FinTelegram Tokenization and Whistle42 platform

Since FinTelegram was established, we have been the target of fierce attacks on different levels. This happens when you fight against cybercrime and scams. But we have also received a lot of encouragement, support, and donations, which we used to evolve our business. In the next crucial step, we want our whistleblowers and supporters to participate in the success as owners of FinTelegram, thus unleashing the next level of whistleblower power.

FinTelegram

July 4, 2021

Attention! TrendsTurbo scam still promoted by Bitcoin Code fraud campaign

Some scammers deploy agencies to protect themselves from FinTelegram warnings. These agencies sometimes file infringement claims to Google to have the warnings removed from Google search results. The operators of TrendsTurbo (www.trendsturbo.com) broker scam, for example, filed several infringement claims with fake senders and websites. Well, we filed a counterclaim and hereby have to repeat the warning against TrendsTurbo.

FinTelegram

July 2, 2021

ProfitsTrade Broker scam facilitated by Bitcoin Profit Fraud campaign, Praxis Cashier and RocketBit

Busy Friday! Today, the scam scene in Cyprus seems to be very active in the cyberfinance space. Emails are arriving almost by the minute, promising quick money and wealth. Those who click on the links are led to scam campaigns like CryptoEngine or Bitcoin Profit. The latter currently facilitated the broker scam ProfitsTrade (www.profitstrade.com), supposedly operated by ProfitsTrade Ltd in the Commonwealth of Dominica. We have discovered Praxis Cashier for credit and debit cards and RocketBit for crypto payments as payment processors.

June 6, 2021

US SEC settles fraud complaint against binary options fraudsters Kai Petersen, Gil Beserglik et al

54-year-old German Kai Petersen a/k/a Kai Haupt and his Israeli partners Gil Beserglik and his son Raz Beserglik have been major players in the binary options and forex fraud industry between 2014 and 2020. Their scam brands and boiler rooms have defrauded tens of thousands of investors out of as much as $100 million the SEC has alleged in a fraud lawsuit. The US regulator claims that Bloombex Options, Morton Finance, and Starling Capital ripped off $100 million. And these were only three of many other scams. On May 25, 2021, the SEC announced a cheap settlement in this case.