Cybercrime

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GMM Case – Canadian regulator OSC charges Cartu Brothers of running an illegal $233 million binary options scheme

GMM Case – Canadian regulator OSC charges Cartu Brothers of running an illegal $233 million binary options scheme

FinTelegram has reported since 2018 about the huge Binary Options Scam of the three Cartu brothers David Cartu, Jonathan Cartu, and Joshua Cartu. Over the course of the last two years, we have received numerous requests from victims and their lawyers as well as from regulators. In this regard, we have been happy to provide the information available to us and have, among other things, facilitated lawsuits in Israel. Now the Canadian Ontario Securities Commission (OSC) has claimed that their GreyMountain Management binary options schemes received more than 233 million Canadian dollars from clients worldwide.

Regulatory Issue – Dutch shareholders provide fresh money to keep B90 Holdings alive

It is actually amazing how long authorities watch before they act. In this case, the London Stock Exchange’s supervisory authority at B90 Holdings PLC, until recently known as Veltyco Group PLC. Founded in 2016 by the now arrested German Uwe Lenhoff and his Dutch partner, real estate investor Dirk-Jan Bakker, B90 Holdings has a record of numerous regulatory violations. These include incorrect publications, failure to disclose material facts, as well as the arrest of the founder, main shareholder, and manager. Since Lenhoff’s arrest, the zombie status of the company has been maintained by the predominantly Dutch shareholders with financial contributions.

Wirecard drama continues – what about the pink elephant called money-laundering for big illegal organizations?

With the KPMG special audit report on the table Wirecard still pretends to believe that the accusations of balance sheet manipulation, irregularities in accounting, kick-back payments, and lack of transparency raised from many sides have been refuted or at least not been confirmed. The accusations of money-laundering in the context of client relationships with cybercrime organizations and scam operators are not dealt with at all. Admittedly, the scope of the special audit of KPMG did not include this pink elephant in the room.

Corona Scam Warning – Boiler Rooms try to exploit pandemic panic!

Corona Scam Warning – Boiler Rooms try to exploit pandemic panic!

Home office work makes people even more accessible to scammers. We have received initial information from whistleblowers that boiler rooms in the Balkans are planning to use the Corona Pandemic and the resulting insecurity of people to increase attacks on investors. We therefore strongly recommend increased caution.

BeAlgo & AlgoTechs broker scam – EFRI registers victims for European law enforcement investigations

BeAlgo & AlgoTechs broker scam – EFRI registers victims for European law enforcement investigations

In many jurisdictions, the authorities are currently investigating the fraudulent binary options & broker scams. The mills of justice are known to grind slowly but they grind. In addition, FinTelegram and the European Funds Recovery Initiative (EFRI), which we co-founded, ensure that the authorities continue their investigations and receive useful information. This was also the case with the huge BeAlgo and AlgoTechs broker scams. This scam has cheated thousands of small investors out of many millions.

Cointeck Broker Scam vanished into the dark web

Cointeck Broker Scam vanished into the dark web

Cointeck (www.cointeck.io) was an illegal and fraudulent FOREX broker platform focused exclusively on cryptocurrencies. This way the perpetrators no longer needed bank accounts for payment processing and could hide even more easily in the dark of the web. However, you could buy Bitcoins via the Crypto-Exchange Bitsale (www.bitsale.com). The crypto exchange is operated by Bitsale Ltd, which is registered in Cyprus.