Investor Alert – Fund Recovery Scam caused the suicide of a German victim

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In his late 70s, a German investor had lost all his life savings of around €400,000 to the scams of German Uwe Lenhoff. In his desperation, the investor was approached by a Fund Recovery scam promising him to recover the funds. But first, they said, they need a few thousand Euros initial payment. The old man had borrowed the money for the initial payment from a friend. The Fund Recovery scammers also took this money from him. In his desperation, the 80-year-old took his own life last week.

The Devastating Lenhoff Legacy

RIP Uwe Lenhoff

Uwe Lenhoff, 56, was arrested in early 2019 after months of investigations by law enforcement agencies in various jurisdictions. As the alleged head of an international cybercrime organization, he was to be charged with fraud and money laundering. In July 2020 Lenhoff was found dead in his cell. Cause of death: unknown. Probably suicide, the authorities say, because they could not discover any third-party fault. However, murder cannot be ruled out either.

Lenhoff and his cybercrime organization have left a trail of blood with tens of thousands of victims. Via their Global Payment Solutions Podgorica DOO (GPS), which is operated jointly with partners in Belgrade, Serbia, victims from Germany, Austria, Switzerland, and Italy, in particular, have been attacked and defrauded. Older people in particular were systematically attacked by Lenhoff’s boiler room agents. FinTelegram is aware of further cases where elderly people were cheated by several hundred thousand Euros via GPS. The authorities continue to investigate despite the death of Lenhoff.

Funds Recovery Scammer

In most cases, the alleged fund recovery experts are the very same scammers who stole the money from the victims. Or they acquired victims’ data from the original scammers. Either way, the fund recovery scammers often have detailed knowledge that impresses their victims and gives them hope to recover their losses. Therefore the victims pay upfront money to the scammers and are victimized again. When the victims realize that they have become victims again, they fall into a deep dark hole. Some commit suicide!

If there is such a thing as Dante’s hell, then the Ninth Circle is where a place is reserved for fund recovery scammers. They are the worst among the scammers who will burn in Dante’s Eight Circle of fraudsters. Most likely, Lenhoff will have found his place there waiting for his co-conspirators.

Share Information with FinTelegram

We explicitly warn against Fund Recovery Scams that work with false promises and want to get down payments of many thousands of Euros from the victims. Do not fall for this. In case you have any information on fund recovery scammers please share it with FinTelegram.

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