Jubiter CEO Richard Brockhume explains the difficulties with scammers!

Richard Brockhume explains scams with Jubiter and CoinDeck
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FinTelegram writes mostly negatively about companies and persons, which is owed to the fact that we are committed to protecting investors and consumers. Thus, we warn against scams and their facilitators. It is in the genes of our business that we point out a lot of negative things. Most recently, the crypto payment processor Global DLT Exchange S.R.O. was in the focus of our reports. We spoke with Jubiter and CoinDeck CEO Richard Brockhume about it to better understand scam-related issues for crypto payment processors. That’s a constructive approach, isn’t it?

Regulation and scams

The British citizen Richard Brockhume, born in January 1945, is the sole director and beneficial owner of Jubiter Technologies, registered in Estonia, and Global DLT Exchange S.R.O., registered in Slovakia. The latter is a registered payment processor and money service business in Slovakia and U.S. FinCen d/b/a Jubiter (www.jubiter.com) and CoinDeck (www.coindeck.com). Most recently, FinTelegram exposed both brands as facilitators in scams and asked Richard for comment.

Richard confirmed that he is the ultimate beneficial owner of the two legal entities in Estonia and Slovakia. He lived in the U.S. until 2002 and bills himself as a payment processor veteran who has been active in this segment for almost 20 years. Richard said that he would have recognized the potential of cryptocurrencies and wanted to add value to the crypto community through his companies and projects.

The crypto license of Jubiter Technologies OÜ in Estonia would have been returned; the regulated business was transferred to the regulated Slovakian Global DLT Exchange S.R.O. because the tax regime in Slovakia would be significantly more advantageous, Richard argues.

Asked about scammers using cryptos and crypto processors to facilitate their scams, Richards said.

Various scams are trying to use the platform to purchase cryptocurrency and steal funds from innocent people. My compliance team works hard to mitigate such cases, but I am afraid that there are some that pass all methods of verification we impose.

Richard Brockhume, CEO and UBO of Jubiter and CoinDeck

The good news at this point is that Richard has recognized the problem that scammers systematically exploit cryptocurrencies to defraud their victims. These illicit approaches often involve disguising the victims’ deposits as purchases of cryptocurrencies using credit and debit cards. The purchased crypto units are then immediately transferred to the scammers’ wallets – and are gone. That recognized it has to be stated that it still takes massive efforts from crypto payment processors like Jubiter and CoinDeck to put adequate measures in place against this abuse of cryptos by scammers.

Expanding into the U.S.

After many years of uncertainty, cryptocurrencies seem to have caught on with U.S. regulators. With ProShares Bitcoin Strategy ETF, the first crypto ETF started to trade on the NYSE earlier this week. It is widely expected that the first regulator-approved crypto ETFs will appear in the months to come and thus contribute to the mass adoption of cryptos in North America. This development, of course, makes the U.S. market attractive for crypto payment processors.

In our discussion with Richard, we learned that his companies spent a “copious amount of money” on Google advertising and marketing for the U.S. market, which is currently the only target market allowed to buy PPC ads on the Google network. Over 40% of our clients are from the 40 U.S. states Richard’s Global DLT Exchange is active in. Against the backdrop of U.S. expansion, registering with FinCen as a Money Services Business (MSB) was only logical.


We established a basis for discussion with Richard and his team. If you have any problems with Jubiter or CoinDeck, please let us know. We will contact Richard with this and try to find solutions.

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