Gal Barak Turns on Uwe Lenhoff, Denies Business Ties While Confirming Legal Exposure

Documented Collaboration Contradicts Barak’s Denial

Scam-or Project has reviewed dozens of internal documents and communications that contradict Gal Barak’s claims of having no business connection to Uwe Lenhoff. In fact, as early as 2015, the two co-founded Global Payment Solutions Podgorica DOO alongside regional partners.

Business Emails and Admissions

Email correspondence between Gal Barak and Uwe Lenhoff, reviewed by investigators, clearly shows ongoing communication regarding joint business operations. Barak had also acknowledged his partnership with Lenhoff during prior media interactions. Several former associates in Serbia, Montenegro, the UK, and the United States have independently confirmed that Barak and Lenhoff were engaged in joint ventures.

A significant point of contention has emerged from former Global Payment Solutions Podgorica partners, who have filed a €5 million civil lawsuit against Barak and Lenhoff, alleging fraud within the company. Even more alarming, those same individuals filed a criminal complaint, claiming that Barak allegedly attempted to issue a kill order against them — a claim supported by documentation submitted to investigators.

Shalon and Smirnov’s Ties to Tradologic

Barak, alongside Lenhoff, maintains ownership in Tradologic via Global Fintech Solutions Ltd, where Barak serves as managing director. Two additional key figures involved are Gery Shalon and Vladislav Smirnov, who are listed as partners in the corporate registry.

According to Barak’s statement to prosecutors, he has supplied WhatsApp chats and email threads with Shalon and Smirnov, seemingly portraying himself as a scapegoat within a broader fraud ring. His disclosures suggest an attempt to shift culpability onto Lenhoff and other associates in hopes of reducing his own liability.

Barak’s Claims of Distance Contradicted by Evidence

Despite previous confirmations of partnership, Barak stated under oath to the Austrian public prosecutor that he had no business relations with Lenhoff. He alleged that he had rejected any involvement with Lenhoff’s trading platforms — such as Option888, XMarkets, and Zoomtrader — after conducting due diligence.

However, an email from Kfir Levy, a known operative in the network, appears to undermine Barak’s claims. In the message to Barak, Levy outlines efforts related to customer disputes:

Email Highlights (April 2018):

The correspondence reveals not a due diligence exercise but active financial negotiation and legal damage control — strongly indicating Barak’s operational role.

Legal Documents Provided by Barak

Barak, in further efforts to distance himself from Lenhoff, submitted legal correspondence addressed to Capital Force Ltd and Altair Entertainment N.V., two offshore firms used by Lenhoff. These documents, authored by attorneys representing aggrieved investors, were intended to demonstrate Lenhoff’s misdeeds and the fraudulent nature of his binary options businesses.

Interviews with German legal representatives confirmed that the referenced cases involved serious investor harm and substantiated Lenhoff’s leadership in operating illegal broker platforms.

Summary: Denials Undermined by Hard Evidence

Barak’s attempt to cast himself as an outsider to Lenhoff’s network is directly contradicted by internal communication, testimonies, and his own earlier admissions. Instead of proving his innocence, his submissions to prosecutors further implicate both himself and Lenhoff in what appears to be a coordinated binary options fraud operation spanning multiple jurisdictions.