​Xtrabit s.r.o. and Vladislav Kogan: Facilitators of Financial Fraud​

Overview

Xtrabit s.r.o., a Czech-based payment service provider (PSP), has been implicated in facilitating financial transactions for fraudulent online broker schemes. Under the direction of Vladislav “Vlad” Kogan, Xtrabit played a pivotal role in processing payments for entities associated with notorious figures like Uwe Lenhoff and Gal Barak. These operations involved complex money laundering activities that exploited the vulnerabilities of the financial system.​

Vladislav Kogan: A Profile

• Name: Vladislav “Vlad” Kogan

• Birth Year: 1973

• Nationality: Australian (born in Krasnodar, Russia)

• Role: Managing Director and sole shareholder of Xtrabit s.r.o.​

Kogan’s involvement in the financial sector spans various jurisdictions, with a history of participation in questionable FOREX projects, including Forex Metal Holdings Limited and FX Index Limited in New Zealand. His operations have left a trail of victims, particularly in German-speaking regions.​

Xtrabit’s Role in Fraudulent Schemes

Xtrabit s.r.o. was instrumental in processing payments for illegal broker platforms, notably those operated by Lenhoff’s Veltyco Group and Barak’s E&G Bulgaria. The company’s activities included:​

• Processing Client Funds: Facilitated bank wires from clients of fraudulent broker platforms.

• Money Laundering: Relabeled transactions as “marketing,” “technical support,” or “consulting” to obscure the origin of funds.

• Disbursing Funds: Transferred laundered funds to entities like Winslet Enterprises Ltd and New Markets S.A., linked to Lenhoff and Barak.​

These operations enabled the perpetrators to maintain lavish lifestyles at the expense of defrauded investors.​

Network of Associated Entities

Xtrabit’s operations were intertwined with a network of companies and entities that facilitated the fraudulent schemes:​

Legal Proceedings and Investigations

Xtrabit and Kogan have faced legal scrutiny for their roles in these fraudulent activities:​

• Austrian Court Ruling (October 2018): Xtrabit was found guilty of facilitating the Option888 binary options scam and ordered to reimburse a victim. Kogan and Xtrabit failed to comply, disappearing and leaving no funds for restitution.​

• Australian Legal Actions: In December 2019, Australian authorities issued a restraint order, freezing Kogan’s assets amid suspicions of money laundering and tax evasion. The Supreme Court of New South Wales upheld this order in December 2023.​

Conclusion

The operations of Xtrabit s.r.o. under Vladislav Kogan exemplify the critical role that complicit payment service providers play in facilitating large-scale financial fraud. Their activities have not only enabled the laundering of millions but have also left countless victims in their wake. Ongoing legal actions in Europe and Australia underscore the international efforts to hold such entities accountable.​

For further information or to report related activities, please contact the appropriate financial regulatory authorities.