FinTelegram and the European Funds Recovery Initiative (EFRI), which it initiated and co-founded, have focused in recent weeks on Payment Services Providers (PSPs) in the environment of illegal broker schemes. According to the working hypothesis “follow the money”, FinTelegram wants to use these PSPs to uncover the ultimate perpetrators of the illegal broker schemes and their offshore companies, expose the flow of the illicit money and identify the money still available for repayment to their defrauded investors.
The Good PSPs Cooperate
The German B2G GmbH was misused by illegal broker schemes such as those of Uwe Lenhoff and his Veltyco Group, Gal Barak and his E&G Bulgaria or also
After extensive discussions with the responsible B2G people, they were convinced that it is in the very best interest of the deceived retail investors and to their own benefit to cooperate with FinTelegram and EFRI. Moreover, it could have been established that B2G was deceived and misled by the people of Uwe Lenhoff, Gal Barak, and other perpetrators. In this way, they support the efforts to recover the money of cheated retail investors and to expose the perpetrators and their illicit money.
In the discussions with the B2G people, it was ascertained that the operators of the illegal broker schemes not only cheated retail investors but also their PSP partners such as B2G. In this respect, cooperations with PSPs are an important step towards exposing and fighting fraud schemes. We would like to thank the B2G team for this in advance.
We hope that B2G is only the first PSP to decide to cooperate in this way and side with defrauded retail investors. Together we can fight the illegal broker schemes, uncover their ultimate perpetrators and stop money laundering. Just recently, EFRI launched its PSP Class Action Campaign to identify PSPs which support and facilitate illegal broker schemes.
B2G GmbH has taken an important and correct step in the interest of retail investors and a safer online investment environment.
Share Information
If you have information about illegally operating broker schemes and PSPs, please share it with the FinTelegram team in the best interests of retail investors and education. Use our whistleblower system for this. Together we can make an impact.
