It was a hard fight, indeed! Scam-facilitating Bruc Bond (formerly Moneta International UAB) is no longer an EU financial services provider. The Bank of Lithuania revoked the company’s EMI license in April 2020. FinTelegram has previously alerted the Bank of Lithuania and its readers to the scam facilitation activities of Bruc Bond in numerous reports. For this, FinTelegram has been sued for alleged defamation in Israel. However, the Bank of Lithuania actually fully confirmed the reports and turned the alleged defamation into a proven fact. In the meantime, Bruc Bond has disappeared from the EU and operates on the Asian markets with a MAS license in Singapore. Now also on the company’s website www.brucbond.com, any reference to former EU activities has disappeared.
Scams, money-laundering, and God
The Bank of Lithuania revoked the company’s EMI license in April 2020 due to serious and systematic violations of compliance rules, maladministration, problems with money laundering, and provision of services exceeding the scope of the license. In their lawsuit against FinTelegram, Nachum and Zoltovski have accused FinTelegram of being potentially anti-Semitic and swore on God (“heaven forbid”) that neither they nor their companies would be involved in any scams or even money laundering. A bold lie uncovered by the Lithuanian regulator. Turned out, God did not cover their lies.
The Israeli FinTech Game
Bruc Bond is a payment processor under the control and beneficial ownership of Israelis Eyal Nachum and Tamir Zoltovski. Shortly after Bruc Bond‘s license revocation, the second regulated company in Lithuania, International Fintech UAB, also resigned its license. More or less voluntarily. International FinTech is in liquidation and has already ceased all services, as the website www.international-fintech.com informs. However, the Lithuanian Caspero UAB (www.caspero.com) is still online, but the service never really worked. On the website, you can still read that Caspero operates as an authorized agent of the Bank of Lithuania licensed International Fintech. Inaccurate and false.
Bruc Bond Pte Ltd operates as a MAS licensed Payment Services Provider with Unique Entity Number: 201818626Z in Singapore and provide cross-border money transfer services. Any reference to EU companies and licenses is missing. Officially, neither Eyal Nachum nor Tamir Zoltovski has any executive function at the Asian Bruc Bond. On their LinkedIn account, Nachum (LinkedIn) and Zoltoviski (LinkedIn) state that they are board members at the firm.
With the revocation or withdrawal of the companies’ licenses in Lithuania and the departure of Eyal Nachum and Tamir Zoltovski from the EU, the world of cyberfinance has become a bit safer again for investors and consumers. Unfortunately, there remain other EMIs in Lithuania that facilitate scams and engage in money-laundering. We are working on it.
