Veltyco Case: Winslet Enterprises, LottoPalace, and Alleged Management Involvement in Investor Fraud

Overview: Criminal Proceedings Against Uwe Lenhoff and Veltyco’s Role

In January 2019, German national Uwe Lenhoff, founder of the public company Veltyco Group PLC, was arrested on charges of investment fraud, money laundering, and financial crime. He remains in custody in Germany pending indictment, along with four additional suspects. Authorities believe Lenhoff and his network established an organized structure to carry out fraudulent schemes, including those tied to Veltyco Group PLC and its affiliates.

According to documents reviewed by Scam-or Project, Lenhoff has made statements implicating Veltyco’s management and major shareholders in the broader scheme.

LottoPalace, Softlotto Ltd, and Deceptive Bonus Traps

Within its “lottery vertical,” Veltyco Group PLC actively promoted the online platform LottoPalace, developed by Softlotto Ltd, a company controlled by Lenhoff. Numerous complaints have been submitted by customers who were unable to withdraw deposited funds or winnings. Several victims reported losses reaching into the hundreds of thousands of euros.

A recurring tactic involved so-called bonus payments, which were applied to customer accounts — often without consent. These bonuses locked users into complicated and undisclosed conditions, such as wagering requirements that made withdrawals virtually impossible. The mechanism effectively forced continued deposits from unaware customers.

Another white-label operation linked to Softlotto was Bmillions, which has since been deactivated. Public review sites list numerous complaints against the platform.

The People Behind LottoPalace: Amit Giorini and Miriam Sahl

The operational leadership behind LottoPalace included Amit Giorini (LinkedIn), an Israeli national listed as the managing director of Softlotto Ltd. Allegedly, Miriam Sahl, Lenhoff’s sister, was involved in coordinating financial operations in conjunction with Rainer Lauffs, a Veltyco board member. Reports indicate that the Bulgarian-registered Winslet Enterprises EOOD, also linked to Lenhoff, played an integral role in day-to-day operations.

Bulgarian Entity Structure: Veltyco’s Operational Core?

Although Veltyco Group PLC was a public company listed on the exchange, investigators and internal statements suggest it was more of a front organization. Real operations reportedly took place through Winslet Enterprises EOOD, managed by Martina Martinova Shishkova, who was also authorized to sign on behalf of Velti Bulgaria EOOD, a Veltyco subsidiary.

Other Bulgaria-based entities include Varkasso EOOD, a company co-founded by Lenhoff and later partially transferred to Austrian software developer Joachim Kalcher. Veltyco acquired a controlling stake in Varkasso in 2018 for €300,000. The platform was allegedly intended to support cryptographic payment systems aimed at streamlining fund movement for illegal broker platforms — effectively enabling money laundering at scale.

Responsibility of Veltyco’s Board and Shareholders

Contrary to the narrative positioning Lenhoff as the sole perpetrator, internal records suggest that Veltyco’s board members and shareholders were well aware of the nature of the operations. Shifting full blame onto Lenhoff would be an oversimplification and could obscure potential liability for other participants.

Individuals Reportedly Linked to Operational Oversight:

Statements indicate that these individuals may have either directly supported or turned a blind eye to the schemes carried out under Veltyco’s brand.

Legal Action and Claims for Damages

Given the mounting evidence, affected retail investors and customers may pursue legal action against both Veltyco Group PLC and Winslet Enterprises EOOD. Documents suggest that key figures within both organizations were informed of the fraudulent practices and continued to support them.

It is now known that former Veltyco CEO Melissa Blau, who briefly served during a transitional period, resigned following the emergence of irregularities. Her swift exit may indicate awareness of the issues plaguing the company.

Conclusion: Accountability Beyond Lenhoff

Evidence points to the conclusion that the fraud carried out through LottoPalace and other Veltyco-linked platforms was not the work of one person alone. Scam-or Project will continue to monitor the case and release further findings regarding the actors involved in managing and profiting from these operations.