Overview: Expanding Web of Broker Scams and Money Laundering
The fraudulent operations orchestrated by German national Uwe Lenhoff and his Veltyco Group PLC have unveiled a complex international network of scams and money laundering. In 2016, Lenhoff estimated his controlled cash flow at approximately $3 billion annually. Veltyco, a publicly listed company, played a pivotal role in laundering funds obtained from fraudulent broker platforms such as Option888, TradoVest, and XMarkets by disguising them as marketing revenues.
Key Figures and Entities Involved
|
Name |
Role/Association |
|
Uwe Lenhoff |
Founder of Veltyco Group PLC; central figure in orchestrating broker scams |
|
Falk Preussner |
Major shareholder of Veltyco; linked to XMarkets scam |
|
Crypto Daily Pte Ltd |
Singapore-based company implicated in processing payments for fraudulent brokers |
Crypto Daily’s Alleged Involvement
Investigations have revealed that Crypto Daily (operating via www.cryptodaily.co.uk) was allegedly involved in processing payments for fraudulent broker schemes XMarkets and TradoVest. Victims have provided evidence showing that funds were transferred to accounts held by Crypto Daily Pte Ltd at OCBC Bank in Singapore. Subsequently, these funds were funneled through entities such as Celestial Trading, Celtic Pay, or Capital Force, which are part of Lenhoff’s money laundering network.
Notably, Crypto Daily Pte Ltd obtained written confirmations of customer payments for trading purposes, indicating a level of awareness and participation in these fraudulent activities.
Implications for the Crypto Industry
The involvement of a prominent crypto news outlet like Crypto Daily (www.cryptodaily.co.uk) in such schemes raises serious concerns about the integrity of information sources within the cryptocurrency industry. The directors of Crypto Daily Pte Ltd—Pascal B. Van Knijff, Carl Liver, and Rheace Jones—are under scrutiny for their roles in facilitating these scams.
Such associations not only tarnish the reputation of the crypto industry but also highlight the need for stringent regulatory oversight to prevent the misuse of platforms for illicit activities.
Call to Action: EFRI’s Initiative
The European Fund Recovery Initiative (EFRI) urges victims of TradoVest, XMarkets, and related broker scams to come forward and file their claims. EFRI is committed to holding accountable those who have facilitated these fraudulent activities and to seeking justice for the victims affected by these schemes.
For more information and to file a claim, visit the EFRI website.