Ongoing Instability Following Lenhoff’s Arrest
The situation surrounding Veltyco Group PLC, a company listed on the London Stock Exchange’s AIM segment, continues to deteriorate following the arrest of its founder, Uwe Lenhoff, in early 2019. According to an official statement issued by the company’s board — including Paul Duffon and Marcel Noordeloos — financial results for June 2019 fell short of projections, further straining the firm’s liquidity. The board acknowledged that talks with investors and creditors were underway, but admitted there was no assurance of a successful outcome.
Pivoting to Bet90: A Strategy Without Capital?
Amid the fallout, Veltyco aimed to reorient its business model around Bet90, a sports betting platform. The company also planned to offer marketing services to third-party gambling operators. However, some sources suggest that Bet90 is now facing its own operational and financial challenges.
Bet 90 Sports Limited, based in Malta, is wholly owned by Quasar Holdings Ltd, also a Malta-registered company. In turn, Quasar Holdings is majority-owned (51%) by Veltyco Ventures Ltd, making it part of the Veltyco Group corporate structure.
Interestingly, Betim Tasholli, a Kosovan national, is listed in the Maltese Commercial Register as a representative of one of the shareholders of Bet 90 Sports Ltd.
Betim Tasholli: Veltyco’s Balkan Representative
Betim Tasholli is widely viewed as one of Lenhoff’s closest business associates in the Balkans. Lenhoff has previously stated that Tasholli also held a stake in Lensing Management Ltd, a company registered in the British Virgin Islands that functioned as Veltyco Group’s majority shareholder.
Tasholli played a key role in establishing and managing Veltyco’s Kosovo-based operations, including the boiler room for the Option888 platform. According to corporate registry data, the boiler room operated under Silkline Group shpk, a company registered in Pristina. Initially developed by Karin Zalcberg and James Azar, the operation was later managed by Tasholli and allegedly grew to over 100 employees.
Reports indicate that under his leadership, Option888’s customer acquisition and payment handling processes functioned effectively — albeit to the detriment of retail investors across Europe.
Deflection of Responsibility?
In his statements to investigators, Lenhoff placed operational responsibility for Silkline Group shpk and Option888 squarely on the shoulders of Tasholli. According to Lenhoff, any fraudulent activity or investor harm would be linked to Tasholli’s management, not his own.
Tasholli is also involved in other Malta-based companies connected to Veltyco, including:
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Bet 90 Sports Limited
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Quasar Holdings Ltd
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SoftLotto Ltd
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Winball Holding Ltd
Financial Distress in Malta
Several employees of Veltyco-affiliated entities in Malta have reportedly stated that salary payments have been delayed for several weeks. Internal sources claim the company is failing to meet financial obligations, with operational stability reportedly deteriorating.
Furthermore, Maltese police have allegedly launched an investigation into Veltyco’s activities on the island. Authorities have begun interviewing staff members associated with the company’s Maltese subsidiaries. Despite official inquiries, Veltyco’s management board has, according to local reports, not responded to questions from regulators.
Legal Fallout and Shareholder Response
As Veltyco’s financial health worsens and regulatory investigations intensify, larger shareholders of the group are reportedly preparing to take legal action against company leadership. According to information gathered by Scam-or Project, concerns about corporate governance, transparency, and potential fraud have driven investors to consider formal steps.
What actions, if any, Veltyco’s board and core investors will take to stabilize the situation remains uncertain. For now, the company faces mounting pressure from multiple directions — including former partners, regulators, and shareholders.