We have reported extensively on the binary options and forex cybercrime schemes of the likes of Uwe Lenhoff, Gal Barak,
In a video investigation behind these scams, a reporter from W5 visits Israel and goes into the former boiler room ran by Gal Barak, Itzik Gellet and their Itzik Gellet Solutions Ltd (I.G. Solutions).
To watch the video investigation, you can forward to minutes 14:50 to see where the journalist discovers Gal Barak’s boiler room and the ‘playbook of scamming”.
In the video, the W5 journalist shows all the shredded documents and the empty workspaces but manages to find the ‘Boiler Room Playbook’, which was used to train brokers in ‘procedures for work’ or in other words, how to take money from victims like Frederick Turbide. In the end, Frederik had lost all his money to the illegal broker schemes and was so desperate that he took his own life.
As per our information, this ‘playbook of scamming’ was written by Gal Barak, and he was very proud of it. It was used by the boiler room agents for illegal broker sites such as OptionStarsGlobal. Moreover, Itzik Gellet Solutions Ltd (I.G. Solutions) the company revealed in the investigation was owned by Gal Barak’s long-time companion and frontman Itzik Gellet. The company and was originally named Gal Barak Solutions Ltd.
FinTelegram also received information that I.G. Solutions has pending court cases in Israel and accumulated huge debts, which is why the guys ran from Israel to hide in Sofia.