Illegal Brokers – E&G Bulgaria Is Not Only Gal Barak And Marina Andreeva

The police just recently announced the results of their enforcement action against the cybercrime organization headed by Gal Barak, Marina Andreeva and their E&G Bulgaria. Unfortunately, it was not only them who defrauded thousands of retail investors by hundreds of millions of Euros with their illegal and fraudulent broker schemes. Other Israeli people are involved in top positions and continue to operate this cybercrime organization. Among those co-conspirators are Itzk Gellet, Kfir Levy, Barak Simhi, or Idan Hotovali. They are still working under the supervision of the remaining principals Gery Shalon and Vladislav Smirnov.

Setting Up The Georgian Operation

FinTelegram already reported about the exodus of the E&G Bulgaria people to Georgia, the home of Shota Shalelashvili, father of Gery Shalon. The latter is the partner of Gal Barak in the cybercrime organization. After the international enforcement action against E&G Bulgaria and other companies in Bulgaria, the cybercrime organization evidently moves to Georgia. Already in April 2018, E&G Bulgaria established Alpha Marketing LLC in Georgia. The official documents have been signed by the Israeli Itzk Gellet (see snipping above).

On the official papers, Gellet is referred to as a manager and sole shareholder of E&G Bulgaria. In the Bulgarian commercial register, Itzk Gellet is one of several managers of E&G Bulgaria besides Gal Barak. We reached out to him but unfortunately, he denied any conversation.

The Georgian citizen Keso Beselia has been made the director of this Georgian subsidiary of E&G Bulgaria:

The Up-and-Running Cybercrime Organization

It is these not yet arrested Israeli guys that run Gal Barak‘s cybercrime organization in close cooperation with the organization’s remaining principals Gery Shalon and Vladislav Smirnov.

FinTelegram has got affidavits from former employees of E&G Bulgaria and its boiler rooms that proof that the Israeli Kfir Levy, for example, is one of the main perpetrators beside Gal Barak and Marina Andreeva. Other affidavits tell the story of intimidating and threatening employees if they do not comply with the criminal agenda. The story of E&G Bulgaria is a story of a vast cybercrime organization driven by Israeli perpetrators across the globe. With Gery Shalon, Vladislav Smirnov and the now arrested Gal Barak as principals and many Israeli guys as their lieutenants.

Report Illegal Broker and Actors

Illegally operating broker schemes and their boiler rooms are part of fast-growing global cybercrime activities. Millions of investors are defrauded by those broker sites losing billions of euros every year. Hence, it is important to warn investors of such illicit sites. If you are a victim of an illegally operating broker site such as Tradeinvest90, Option888, XMarkets, XTraderFX, GToptions, StoxMarket, Bluetrading, FXTrade777, or KayaFX please file your claim and report activities via our whistleblower system: