Binary Options – The Core of VELTYCO’s Business Model Throughout the Reverse Takeover (RTO) and the subsequent stock exchange listing in summer 2016, VELTYCO repeatedly emphasized that binary options formed a crucial part of its business model. Notably, VELTYCO operated Option888 (www.option888.com), one of the most recognized binary options platforms. Even today, Option888 Marketing Ltd remains part of the VELTYCO Group. To shield itself from potential legal risks and frustrated investors, VELTYCO structured its operations into two distinct layers: Marketing Layer: Website, domain, and marketing activities (managed by the VELTYCO Group) Legal Layer: Operations and licensing (managed via offshore companies)…
Author: Tom
From Gaming to Crypto: A German-Backed UK Company VELTYCO GROUP PLC, a UK-listed entity with interests in gaming, betting, and gambling, shifted its focus to blockchain and crypto ventures in late 2017. This announcement triggered a notable increase in its share price during December of that year. At its core, however, VELTYCO remains a German-driven enterprise orchestrated by Uwe LENHOFF, who until recently served on the board. Although he officially stepped down during a board reshuffle, LENHOFF continues to operate behind the scenes as VELTYCO’s most influential shareholder and business strategist. Many of the ventures tied to the company originated…
Shifting from Binary Options to Blockchain Ventures Managing a global financial investigation platform often exposes one to both valuable intelligence and hostility. Numerous insiders contribute information about companies and individuals, while others respond with allegations, claiming investigations stem from personal vendettas. However, the facts suggest otherwise—this is simply part of operating in high-stakes industries. One such case is VELTYCO GROUP PLC, which has attracted attention since early 2018. Historically tied to the binary options market, the company was forced to seek new directions as that business became banned or severely restricted across many countries. In response, VELTYCO embraced the rising…
Nexus Global – Familiar Faces in a New Scheme Scam-Or Project looked up the crypto-MLM scheme Nexus Global and the individuals involved back in March 2018. Since then, we have published detailed investigations into its structure and expansion. Our reports prompted backlash, including threats and defamatory attacks directed at members of our team. The group surrounding Christian Michel Scheibener, Michael Thomale, Uwe Lenhoff, and Joachim Kalcher responded swiftly—and predictably. Fortunately, former business associates of Christian Michel Scheibener provided valuable insider information, including extensive documentation. Before founding Nexus Global, Scheibener served as CEO of another crypto-MLM project, Omnia Tech, where he…
What Will Melissa Blau Do Next? Since March 2018, Melissa Blau has served as CEO of VELTYCO GROUP. Her first official statement, dated March 29, 2018, claimed that the ESMA ban on binary options would not impact VELTYCO’s business model. According to Blau, none of the companies associated with VELTYCO were active in the binary options sector, and any related activities had been discontinued ahead of regulatory changes. However, VELTYCO’s own Annual Report 2017 tells a different story: a significant portion of its 2017 revenues still stemmed from marketing activities linked to binary options. Binary Options: The Revenue Engine of…
Growing Complaints About LottoPalace Over the past few weeks, Scam-Or Project has again received numerous complaints regarding LottoPalace. Most recently, a customer reported a loss exceeding EUR 10,000 and highlighted the lack of response from LottoPalace’s support team. Additionally, the customer was unable to obtain any operator information to pursue legal action. As a result, we provide an updated overview of LottoPalace (read our previous report here). LottoPalace’s Facebook Presence Disappears Since the publication of our last report in April 2018, LottoPalace has taken down its Facebook page. At that time, customer reviews were overwhelmingly negative, and some users publicly…
Dramatic Management Changes at VELTYCO Crisis-hit public-listed company VELTYCO GROUP PLC faces yet another leadership shake-up. Recently, the company underwent a major restructuring with three board members stepping down, including founder Uwe Lenhoff. In an attempt to turn things around, U.S. gaming industry veteran Melissa Blau was appointed CEO. However, just six months later, Blau has decided to leave, leaving behind a company in deeper turmoil. A Mission Bound to Fail On October 12, 2018, VELTYCO announced Blau’s resignation, citing her wish to “focus on other business interests.” However, it is clear that the company’s increasingly precarious situation also played…
The Complexity of Retrieving Lost Funds Scam-Or Project often receives requests from victims of online investment scams seeking help in recovering their funds. While we appreciate the trust placed in us, the unfortunate reality is that recovering money lost to online fraud is significantly more difficult than in traditional offline cases. Victims of scams like SafeMarkets, Option888, or LottoPalace typically report the incidents to their local police. However, they often only possess limited information: Personal details and login credentials Website domain name Occasionally, the scammer’s bank account or a crypto wallet address In crypto fraud cases, victims are usually left…
A Public Company Built on a Hidden Network VELTYCO GROUP PLC, a company listed on the London Stock Exchange (AIM), positioned itself as a provider of online marketing services for platforms in binary options, forex, sports betting, and online lotteries. However, in reality, the operators of these platforms were often the same individuals who held shares in VELTYCO. At the center of this network was Uwe Lenhoff, the company’s founder and majority shareholder. He was also the ultimate beneficial owner of several of VELTYCO’s so-called “clients,” including: Option888 LottoPalace Altair Entertainment Celestial Trading Payific Ltd These companies, closely tied to…
Financial Instability at VELTYCO On November 22, 2018, the board of VELTYCO GROUP PLC publicly acknowledged significant financial distress. According to their statement, the company was: Facing difficulties in collecting receivables in its online financial trading marketing vertical Considering major impairments Forced to cut back on marketing expenditures What raises concern is that the defaulting clients are all reportedly part of the corporate web tied to Uwe Lenhoff — founder, majority shareholder, and business strategist behind VELTYCO. Among the most prominent names in this network is LottoPalace (website), which, according to the board’s release, owes €1.4 million to VELTYCO. VELTYCO’s…