Tracking the Cartu Brothers: Binary Options, Wirecard Ties, and Their Connection to GlobalNetInt

Introduction: Following the Money Trail

The Cartu Brothers—David, Joshua, and Jonathan—remain central figures in one of the largest binary options fraud investigations in recent years. While financial regulators in both the U.S. and Canada have launched legal actions against them, new revelations suggest their operations extended far beyond binary options—deep into online gambling and connections with financial service providers such as Wirecard and GlobalNetInt.

Online Gambling and GlobalNetInt’s Involvement

According to sources, GlobalNetInt (GNI), a Lithuania-based financial institution, appears to cater extensively to clients from the online gambling sector. The Cartu Brothers, known for their fraudulent ventures, reportedly maintain business relationships with GNI. This information surfaced following recent requests for information (R4I) regarding the financial structures surrounding the Cartu network.

Binary Options: The GreyMountain Management Era

From 2014 to 2018, under the leadership of David Cartu, the trio managed an international binary options operation using several entities, most notably:

• GreyMountain Management Ltd (GMM) – Registered in Ireland

• Mega Optimization Ltd (operating as MegaCharge)

• Additional companies spread across the UK, Israel, and various offshore jurisdictions

These companies were instrumental in defrauding thousands of investors globally. Legal proceedings initiated by the U.S. Commodity Futures Trading Commission (CFTC) and the Canadian Ontario Securities Commission (OSC) allege significant financial damage, with the CFTC alone estimating losses at $165 million—though the true impact is likely higher.

Wirecard Connections: A Convenient Ally?

A notable component in the Cartu operation was its alleged connection with Wirecard, the now-defunct German payment processor. During the peak of their binary options activity, the Cartu Brothers worked closely with Wirecard:

• Michelle Molloy, then director at Wirecard UK & Ireland, later joined MegaCharge as a director.

• Wirecard’s Dublin office was located next to GMM’s premises.

Speculation persists about whether the Cartu Brothers held any ownership in Wirecard, although concrete evidence remains unavailable.

From Binary Options to Online Casinos

Following the downfall of their binary options schemes in late 2017 or early 2018, the Cartu Brothers shifted focus back to online gambling—a field they were active in before. GMM was liquidated, and investors’ legal efforts largely proved fruitless. However, the brothers continued operating online casinos, with GlobalNetInt reportedly serving as one of their financial partners. GNI is affiliated with the FCA-licensed MoneyNetint Group.

Gambling Network and Corporate Fronts

The Cartu network relies heavily on intermediaries and connected entities to manage its gambling operations. A key associate is:

• Jonathan Tsarfati (aka Jonathan French)

• Director of Worldwide CurrencyPlace OÜ (Estonia)

• Director of Captiva Cay Ltd (Israel)

• Connected to Captiva Cay Platforms Ltd (Ireland)

• Linked to GreyMountain Management Ltd

All of these entities are suspected to be part of the Cartu operation and are reportedly clients of GlobalNetInt.

Additionally, Tsarfati holds directorships in:

• Sandbox Media Ltd

• Flamingo Gardens Capital Ltd (a real-estate firm)
  Both are registered in Israel and believed to be under Cartu influence.

Dutch Authorities Take Action

In 2018, the Dutch Gaming Authority fined Honeydew Trading Ltd (Cyprus) and its affiliate CyberRock Entertainment N.V. (Curacao) €350,000 for unauthorized gambling services in the Netherlands. Investigators identified the Cartu Brothers as the ultimate beneficial owners (UBOs) behind both companies. Following the fine, both firms seemingly ceased operations or vanished from public records.

Summary Table: Entities and Connections

Conclusion: The Gambling Continues

Despite multiple legal complaints and regulatory actions, the Cartu Brothers seem to have shifted gears rather than disappeared. Their gambling ventures continue, possibly aided by financial service providers such as GlobalNetInt. The exact extent of their current activities remains partially obscured—but one thing is clear: their global network of companies, partners, and platforms is vast and deliberately complex.

If you have further information about the Cartu Brothers, GlobalNetInt, or any affiliated operations, the Scam-Or Project welcomes your confidential tips.