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…
Author: Tom
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…
VELTYCO in Financial Turmoil VELTYCO GROUP PLC, the publicly traded company tied to German gambling entrepreneur Uwe Lenhoff, is facing serious challenges. After months of declining financial performance, the company is once again in the spotlight—this time for a controversial change in shareholder structure. On December 6, 2018, documents filed with the London Stock Exchange (LSE) appeared to show that German investor Falk-Uwe Preussner had significantly increased his stake in VELTYCO. However, conflicting information and whistleblower reports suggest the opposite—that Preussner may have actually sold a portion of his holdings. Conflicting Disclosures and Unanswered Questions Initially, stock filings indicated that…
Announcement from VELTYCO On December 31, 2018, publicly listed VELTYCO GROUP PLC, associated with Uwe Lenhoff (main shareholder) and Marcel Noordeloos (CFO), released a statement forecasting the launch of its own regulated financial trading brand during the first quarter of 2019. Originally, this launch was expected in the fourth quarter of 2018, but according to the update, the company was still awaiting regulatory approval. Considering VELTYCO’s history with unregulated financial ventures, this announcement raised considerable skepticism. Based on past activities, such an approval would likely not serve the best interests of investor protection. VELTYCO’s Track Record and Regulatory Concerns There…
A Shifting Front: From Grau International OU to VEmarkets Ltd Initially, the unlicensed broker VEmarkets (www.vemarkets.com) listed Grau International OU, an Estonian company, as its official owner and operator. However, within a short period, that name was removed from the website and replaced with VEmarkets Ltd. Interestingly, this new company, VEmarkets Ltd, is allegedly registered in Estonia under company number 14482296, which actually belongs to the same Grau International OU. This abrupt rebranding seems to be a deliberate move to mislead investors, regulators, and even search engines. As a result, Scam-Or Project launched a deeper investigation into this Estonian financial…