Gal Barak

EFRI charges Payvision with facilitating investment fraud

EFRI charges Payvision with scam facilitation claiming restitution payments

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Scam facilitating payment processors are the key for scammers to defraud consumers. The European Funds Recovery Initiative (EFRI) has sent a letter of formal notice to the ING subsidiary Payvision and asked for restitution payments for the victims of scams of the German Uwe Lenhoff, who died in prison. Lenhoff should have been charged with …

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Binary Options Court Season – The Great Manipulation Game

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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.

Investor Warning – The Israeli EZInvest, WGM Services, the SEC Penalty, a Bulgarian Connection, and the CySEC incompetency

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For some time now, WGM Services Ltd, registered and licensed in Cyprus, has been offering CFDs to customers through the CySEC-approved domain www.ezinvest.com. The offering is aimed at retail investors around the world and is available in several languages. However, the people behind WGM Services and their companies are not trustworthy and have already been …

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The Marshall Islands – A cybercrime paradise promotes crypto to legal tender

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Crypto becomes legal tender On February 26, 2018, the sovereign Republic of the Marshall Islands (RMI), a tiny Pacific atoll nation with a population of just 55,000, passed the Sovereign Currency Act of 2018 introducing the blockchain-based currency Sovereign (‘SOV’) as its legal tender for all debts, public charges, taxes, and dues. Being legal tender of …

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BAFIN AND GERMAN POLICE WARN AGAINST ONLINE TRADING FRAUD

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Reads as if it’s a national effort to fight online trading fraud. Finally! Even the German authorities are now likely to find the rip-off of small investors too much. On December 4, 2018, the BaFin, the BKA and the state criminal investigation offices of Bavaria, Baden-Württemberg, Berlin, Saxony-Anhalt, Saarland, and North Rhine-Westphalia issued a joint …

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