Regulatory Fine Against Novox Capital: A Symbolic €100 Penalty
CySEC’s Decision The Cyprus Securities and Exchange Commission (CySEC) announced that Novox Capital Ltd received an administrative fine of just €100. The penalty was imposed because…
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Veltyco Cybercrime Scheme Manager Sentenced to 12 Years in Prison
In a landmark case in Saarbrücken, Germany, the court has sentenced 29-year-old Azem Spahiu to 12 years in prison for his involvement in the Veltyco Cybercrime…
Business Insider Highlights Legal Actions Against ING and Payvision
A European victims’ advocacy group has initiated legal proceedings against Dutch financial entities ING and its subsidiary Payvision, alleging their involvement in facilitating fraudulent online trading…
Option888 Boiler Room Agent Sentenced to 18 Months in Austrian Prison
A 33-year-old Kosovar national has been sentenced to 18 months in prison by an Austrian court for his involvement in the Option888 binary options scam. Operating…
Veltyco’s Web of Deceit: Online Trading Scams and Regulatory Violations
Overview of Veltyco’s Online Trading Operations Scam-or Project has extensively investigated and reported on the fraudulent online trading platforms associated with the publicly listed VELTYCO GROUP…
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…
Unveiled Connections: Novox Capital, Payvision, and Lenhoff’s Binary Options Empire
The 2019 Arrest of Uwe Lenhoff In January 2019, German citizen Uwe Lenhoff was taken into custody following an extensive investigation by authorities in Germany, Austria,…
The Case of Payvision and Rudolf Booker: A Closer Look at Alleged Ties to Investment Fraud Networks
Background: Origins of Payvision Rudolf Booker, an Amsterdam-based entrepreneur, founded the payment service provider Payvision in 2002. The company operated steadily until around 2015, when it…
The Network Behind SafeMarkets, OptionStars, and Novox Capital
Background: Deconstructing a Fraudulent Ecosystem With the shutdown of the binary options platform SafeMarkets, attention is shifting toward examining the wider infrastructure behind it. SafeMarkets is…
CELESTIAL TRADING LTD Not Licensed by Montenegro’s Financial Regulator
Clarification on Licensing Status In light of recent coverage concerning VELTYCO GROUP PLC and its intention to launch a regulated trading brand, new information has emerged…