Legal pressure continues to mount on members of the notorious cybercrime network E&G Bulgaria, as Chen Ganon, a close associate of convicted mastermind Gal Barak, is now also being pursued by German prosecutors.
From Austria to Germany: Legal Expansion
Chen Ganon played a senior operational role within E&G Bulgaria, managing the fraudulent broker platform SafeMarkets and overseeing boiler room operations in Belgrade and later Sarajevo. While Austrian authorities had previously initiated criminal proceedings against Ganon, the Bamberg Prosecutor’s Office in Germany has now opened its own investigation.
Notably, Ganon’s former colleague, Jacki Fitelzon, was recently sentenced to 82 months in prison, and another associate, Kfir Levy, is currently being held in pre-trial detention.
Key Case Details
Here’s a structured overview of the key individuals and components tied to the E&G Bulgaria cybercrime operation:
|
Case file name |
E&G Bulgaria |
|
Cybercrime activities |
– Online trading scams – Boiler room operations – Investment fraud – Money laundering |
|
Ring leaders |
– Gery Shalon – convicted in U.S. cybercrime case – Gal Barak (a.k.a. “Wolf of Sofia”) – sentenced to 4 years in Austria – Marina Barak – acquitted in Austria – Vladislav Smirnov – suspect – Jacki Fitelzon – sentenced to 82 months – Kfir Levy – held in pre-trial detention – Itzik Gellet, Amit Hulin, Chen Ganon, Maor Sioni – suspects |
|
Related cases |
– Veltyco & Uwe Lenhoff – separately indicted in Germany – Tradologic – separately indicted in Austria |
The Story of Chen Ganon
Chen Ganon, an Israeli citizen born in July 1985, worked alongside Roee Refael Levy (born February 1982) and Darshan Chen Avishai as senior managers of the SafeMarkets brand and its boiler rooms.
Relocation After Internal Conflicts
The operation began in Belgrade, Serbia, but following violent disputes with local business figures, the business was moved to Sarajevo, Bosnia and Herzegovina. There, the activity continued under the company name ARC Solutions DOO.
Addiction and Profits
Much like fellow associate Jacki Fitelzon, Ganon reportedly struggled with substance abuse, particularly cocaine. Despite this, he earned substantial income. For instance, in August 2018, his reported earnings exceeded €35,000, primarily made through commissions from funds extracted by SafeMarkets agents from unsuspecting investors.
German Prosecutors Eye Gal Barak Again
Headed by Nino Goldbeck, the Bamberg prosecutor’s office is also seeking to reopen prosecution against Gal Barak, this time in relation to victims based in Germany. Barak’s defense team has challenged the move, and the matter is now under review by the European Court of Justice.
More Indictments to Come?
The E&G Bulgaria case is still very much active. According to insider reports, new evidence and witnesses continue to emerge, potentially leading to further prosecutions in multiple jurisdictions.
Stay informed — this cybercrime story is far from reaching its conclusion.