FinTelegram has been reporting on the vast global binary options scam scheme around the GreyMountain Management Ltd (“GMM”) of the Cartu brothers. Joshua “Josh” Cartu has contacted FinTelegram via email several times, purported to have nothing to do with the GMM’s fraud scheme, and pointed to his brothers. The U.S. CFTC sees it differently and have filed a fraud complaint against him and his brothers. The end of a lavish lifestyle and Instagram celebrity?
The International FinTech UAB of the Israelis Eyal Nachum and Tamir Zoltovsky has no more license in Lithuania. Thus, within a few months, the two Israeli payment pundits have lost both regulated companies in Lithuania. Already in April 2020, the Bank of Lithuania withdrew the license of Bruc Bond (formerly Moneta International) due to systematic violations of the compliance guidelines and problems with money laundering. At present, it is not clear why International Fintech has also lost its license.
The Israeli boiler room CEO Lee Elbaz was already convicted of investment fraud by a U.S. jury in August 2019. She must serve 22 years in prison and repay $28 million to investors. In Vienna, the Israeli Gal Barak has been sentenced to four years imprisonment without probation and the confiscated millions will be repaid to his victims. In the U.S. and Canada, regulators are suing the notorious Canadian-Israeli Cartu Brothers for binary options fraud. Accusations of lies and systematic manipulation are the very essence of the charges and complaints.
The payment service provider Wirecard is not running out of negative headlines. That’s for sure. The special audit report submitted by KPMG at the end of April 2020 has greatly increased the pressure on the DAX-listed German FinTech, its CEO Markus Braun, and finally its auditor EY. Since then, the share price has plummeted from more than €138 to €76.36 on May 15, 2020.
The U.S. Securities and Exchange Commission (SEC) announced that three foreign individuals, Gil Beserglik (Israeli and lives in Germany), Raz Beserglik (Israeli also head of the Israeli boiler rooms), and Kai Christian Petersen (German and head of the German boiler rooms), have been charged with deceiving U.S. investors, including vulnerable retirees. According to the SEC …