The Mysterious Death of Uwe Lenhoff and the Ongoing Impact of His Cybercrime Legacy

Suspicious Circumstances: What Happened to Uwe Lenhoff?

On July 6, 2020, Uwe Lenhoff, a German national accused of orchestrating multiple cybercrime operations, was discovered dead in his prison cell. His cellmate reportedly found him lifeless on the floor beside his bed. According to the Sueddeutsche Zeitung’s Uwe Ritzer, an autopsy commissioned by the prosecutor’s office did not reveal any signs of violence or suicide. Yet, the exact cause of death remains unknown to this day.

Investigators estimate that Lenhoff defrauded up to 124,000 German victims. For many affected individuals, his death may have brought a sense of closure—but for others, especially investigators, it has raised more questions than answers.

Convenient Timing: Who Benefited from Lenhoff’s Death?

Lenhoff was the driving force behind a number of large-scale scam operations, including:

• Option888

• XMarkets

• TradoVest

• LottoPalace

In addition to operating these fraudulent broker platforms, he played a central role in laundering the illicit funds they generated. Over the years, Lenhoff accumulated powerful enemies across Europe, including in Serbia and Bulgaria.

Shortly before his arrest, Lenhoff allegedly fell out with Serbian businessmen who claimed he had stolen over €100 million from them. He was also said to have cooperated with law enforcement, possibly naming other accomplices—making his sudden death especially advantageous to those fearing exposure.

The Veltyco Group Connection

In 2016, Lenhoff co-founded Veltyco Group PLC with fellow German businessman Falk Preussner. After Lenhoff’s arrest, the company rebranded as B90 Holdings PLC. Despite being imprisoned, Lenhoff remained the main shareholder through:

To keep the business afloat post-arrest, Dutch investor Peter Paul Westerterp injected new capital into B90 Holdings.

Shadow Networks in Bulgaria

Lenhoff maintained strong connections in Bulgaria, where he covertly operated Winslet Enterprises EOOD. This entity reportedly managed the flow of funds to Veltyco Group. He also informed German authorities that he and a partner held ownership of 4,400 apartments in Amsterdam. The fate of these assets remains unknown, and much of Lenhoff’s wealth is suspected to have disappeared without a trace.

Lenhoff and Gal Barak: The Global Payment Pipeline

Lenhoff’s Israeli associate, Gal Barak, has been at the center of related legal proceedings. On July 8, 2020, Barak stood trial in Vienna. Together with Lenhoff, he co-founded the payment processing firm Global Payment Solutions Podgorica DOO in Montenegro (OpenCorporates). This company was a key vehicle for laundering millions in defrauded customer funds across Europe.

Ongoing Investigations and Future Revelations

Although Uwe Lenhoff is no longer alive to face trial, the reach of his cybercriminal empire remains a major focus of law enforcement in Europe. With ongoing legal actions, including the Vienna Cybercrime Trials, and deeper investigations into his associates, more revelations are expected in the weeks ahead.

Stay tuned for further updates on this unfolding international scandal.