Overview of Global Trader Scam and Facilitators
In November 2021, the UK Financial Conduct Authority (FCA) issued a warning against the Global Trader scam (www.globaltrader.io). Scam-Or Project published a detailed report on the broker scam, revealing the involvement of payment processors such as PayPound for credit and debit card payments and Dream Finance OÜ, an Estonian licensed crypto payment processor doing business as CryptoProcessing and CoinsPaid.
Disclaimer:
Dream Finance OÜ issued a statement to Scam-Or Project clarifying that they do not support scams. The company asserts that UK-registered Charge Money Ltd abused its services to process payments for the Global Trader scam without their knowledge.
Key Data
| Attribute | Details |
| Legal Entity | Charge Money Ltd |
| Related Person | Mehul Sakaria |
| Related Companies | New Tech World Ltd, iPayTotal Ltd |
| Jurisdiction | United Kingdom |
| Related Scam | Global Trader |
| Related Payment Processors | PayPound |
About Dream Finance
Dream Finance OÜ is an Estonia-based licensed crypto payment processor operating under the trading names CryptoProcessing (www.cryptoprocessing.com) and CoinsPaid (www.coinspaid.com). The registered directors of Dream Finance are Maksym Krupyshev and Frederic Georges Hubin.
The Charge Money Narrative
Following the Scam-Or Project report, Dream Finance conducted an investigation and discovered that Charge Money Ltd, a registered merchant, had processed crypto payments for the Global Trader scam. According to Dream Finance, Charge Money misrepresented itself during onboarding and used Dream Finance’s services to process payments for illegal activities.
Statement from Dream Finance:
“We discovered that Global Trader used another company, Charge Money Ltd, as a front to unlawfully obtain crypto processing credentials. We were able to identify that Charge Money misused our services for supposedly illegal activities.”
| Entity | Details |
| Company Name | Charge Money Ltd |
| Registration Number | 13520507 (UK Companies House) |
| Director | Mehul Sakaria (born June 1986) |
| Background | Former director of collapsed high-risk payment processor iPayTotal Ltd |
Background on iPayTotal:
- Insolvency: The High Court of Justice ordered the insolvency and dissolution of iPayTotal in November 2020.
- Scandals: Known for withholding payments from high-risk merchants, resulting in significant merchant losses.
The PayPound Connection
PayPound (www.paypound.ltd) is an unlicensed payment processor also linked to the Global Trader scam. Insiders claim it is a successor to iPayTotal. While the connection between PayPound and Charge Money Ltd remains unclear, PayPound’s operations appear questionable.
Key Observations:
- Staff Discrepancies: LinkedIn lists 19 people associated with PayPound, but company information remains contradictory.
- Reputation: PayPound is described as a shabby high-risk payment processor with unresolved issues.
Conclusion and Call for Information
Mehul Sakaria, operating through Charge Money Ltd and New Tech World Ltd, appears to be actively facilitating scams and engaging in high-risk illegal payment processing. If you have any information about Mehul Sakaria, Charge Money Ltd, or their activities, please report it through our whistleblower platform, Whistle42. Your contributions are vital to uncovering and combating fraudulent operations.