Introduction
Legal actions have been initiated against Payvision, a former subsidiary of ING, concerning its alleged involvement in processing payments for fraudulent broker schemes. Instead of addressing these claims transparently, reports suggest that Payvision and its founder, Rudolf Booker, have engaged in legal maneuvers aimed at discrediting those seeking justice.
Background on Payvision’s Operations
Established in Amsterdam in 2000 by Rudolf Booker, Payvision was acquired by ING in 2018. Subsequent investigations revealed that the company had been processing transactions for high-risk industries, including entities later identified as fraudulent broker operations. Notably, Payvision facilitated payments for operations linked to individuals such as Uwe Lenhoff and Gal Barak, who were later prosecuted for financial crimes.
Allegations of Intimidation
Victims pursuing legal recourse allege that Payvision, rather than cooperating with investigations, has attempted to undermine their efforts through legal intimidation. For instance, when a speaker at a financial crime conference was scheduled to discuss Payvision’s role in these schemes, Booker reportedly sought legal action to prevent the presentation, aiming to suppress information about the company’s past activities. Legal representation in some of these efforts was reportedly provided by elegis – Huybrechts, Engels, Craen & Vennoten (https://www.elegis.be), a Belgian law firm known for its work in commercial litigation.
Regulatory Responses
In response to mounting scrutiny, regulatory bodies initiated probes into Payvision’s operations. This led to the resignation of Booker and other executives in 2020. Subsequently, ING decided to phase out Payvision’s services, citing a misalignment with the bank’s risk criteria. Despite these measures, affected individuals continue to seek accountability and restitution for the losses incurred due to Payvision’s alleged facilitation of fraudulent activities.
Ongoing Legal Proceedings
The legal landscape remains active, with ongoing proceedings in various jurisdictions aiming to hold Payvision and its former executives accountable. These cases underscore the importance of due diligence and corporate responsibility in the financial sector, especially concerning partnerships and client vetting processes.