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…
Author: Tom
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 legal proceedings against the Veltyco Cybercrime Scheme, associated with Uwe Lenhoff, are set to commence in Germany, it’s noteworthy that several of Lenhoff’s shell companies were clients of Payvision. Currently, Payvision, now a subsidiary of ING, is in the process of winding down its operations. Meanwhile, the fintech ecosystem at Tesselschadestraat 12 in Amsterdam continues to thrive. Many entities registered at this address are under the control of Payvision’s founder, Rudolf Booker, including Safened, Fourthline, and the Ardys family office. Safened operates as an FCA-authorized Payment Institution, Fourthline offers compliance solutions to other fintech companies, and Ardys serves as…
In Saarbrücken, Germany, legal proceedings have begun against individuals implicated in the Veltyco Cybercrime Scheme. The alleged orchestrator, Uwe Lenhoff, passed away in custody in July 2020 under unclear circumstances. Despite his death, several associates are now facing trial, accused of defrauding over 1,100 German investors of nearly €42 million. The initial defendant is 29-year-old Kosovan, Azem Spahiu, who, along with his associate Betim Tasholli, reportedly managed boiler rooms for the operation in Kosovo. Scheme Operations and Investor Deception Between May 2016 and early 2019, agents within these boiler rooms allegedly lured investors with promises of substantial returns through binary…
German regulatory and tax enforcement bodies have intensified their scrutiny of foreign iGaming firms operating in the German market. Several operators licensed by the Malta Gaming Authority (MGA) have reportedly come under investigation, receiving official notices from German tax departments. Under German law, any gambling business catering to local users must fulfill tax obligations, including value-added tax (VAT) and levies on sports betting. Failure to meet these financial duties is classified as tax evasion—an offense that can carry criminal charges and serious consequences for company leaders, as demonstrated by the recent detention of Iosif Galea. The Iosif Galea Case In…
Amid ongoing corruption investigations, the Malta Gaming Authority (MGA) has put a freeze on close to 30 gaming license applications linked to Iosif Galea, a former director at Bet90 (www.bet90.com), due to suspicions surrounding his alleged role in internal misconduct at the regulator. Background on Iosif Galea MGA Tenure Galea served as a compliance officer at the MGA from 2007 to 2013. Post-MGA Career After leaving the MGA, he worked as a compliance consultant, primarily helping foreign applicants obtain MGA licenses. Nominee Directorships Galea also operated as a nominee director for various clients, including Bet90 Sports Limited, receiving high monthly…
BitRush Corp. (CSE:BRH, Frankfurt:0XSN) has disclosed the approval of stock option grants to selected consultants, representing a significant move in the company’s ongoing efforts to maintain activity. Background of BitRush Corp. Established in 2015, BitRush was among the pioneering publicly listed cryptocurrency companies on the Canadian Securities Exchange (CSE). The company was founded by Werner Boehm and Alfred Dobias, alongside Slovakian entrepreneur Igor Wollner and his associate Hans-Joerg Wagner. Werner Boehm served as the CEO during its inception. Money Laundering Controversy In 2016, internal disputes arose when Wollner and Wagner proposed a partnership with Uwe Lenhoff, a figure later identified…
A formal appeal has been made to ING CEO Steven van Rijswijk and the Dutch Central Bank (DNB) President Klaas Knot, urging them to take responsibility for the actions of former ING subsidiary Payvision, particularly its involvement in processing payments for fraudulent broker schemes across Europe. Background: Acquisition and Shutdown of Payvision Payvision, a Dutch payment service provider founded by Rudolf Booker in Amsterdam roughly two decades ago, was acquired by ING in 2018 for €360 million. However, after the acquisition, ING uncovered that Payvision’s client portfolio largely consisted of high-risk industries such as online gambling and pornography, and the…
Between 2014 and 2019, Payvision — a company owned by ING — played a central role in handling payments for numerous fraudulent binary options operators. The firm, launched by Rudolf Booker in the early 2000s, managed financial transactions for notorious scam networks run by Gal Barak and Uwe Lenhoff. Victims claim that Payvision knowingly facilitated money laundering for these illicit businesses. As a result, several of those affected are now preparing to initiate legal proceedings against the company. Key Individuals and Entities Involved Rudolf Booker: Founder of Payvision. Gal Barak: Operator of fraudulent binary options networks. Uwe Lenhoff: Operator of…
The Dutch authorities and media are now focusing on ING and its subsidiary, Payvision. Recently, the financial newspaper FD published a report detailing the Dutch regulator DNB’s investigation into alleged financial criminal activities involving Payvision. It is alleged that CEO Rudolf Booker personally instructed collaborations with scammers such as Gal Barak and Uwe Lenhoff, even after compliance departments raised concerns. Notably, Payvision executives have recently denied knowledge of any investigations in court filings. Payvision Under Fire: Allegations Confirmed by Investigation Since 2018, Scam-Or Project has been highlighting the activities of Payvision and Rudolf Booker. Despite facing threats and lawsuits, our…