We have received many complaints and inquiries again regarding LottoPalace in the last few weeks. Most recently, a customer complained that he had lost more than EUR 10,000 and would not receive any information from LottoPalace support. Nor would he have any data on the operators to which he could turn through his legal representative. In this respect, we make a short update to LottoPalace (see our last report here).
LottoPalace Facebook Page Offline
Since our last report LottoPalace has withdrawn from Facebook and taken its Facebook page offline. When our first report was published in April 2018, Facebook reviews were already very poor and customers publicly threatened to take legal action. Apparently, the operators of LottoPalace have therefore decided to withdraw from Facebook and to avoid the negative postings or reviews on the social media platform.
Who Actually Owns and Runs LottoPalace?
LottoPalace is part of the public-listed UK company VELTYCO through which sales and marketing is carried out. VELTYCO is notorious for running dodgy websites. The companies listed on the LottoPalace website – ALTAIR ENTERTAINMENT N.V. and PAYIFIC LTD – belong to the German Uwe LENHOFF group of companies, who is also the founder and main shareholder of VELTYCO. In this respect, VELTYCO and Uwe LENHOFF are the beneficial owners and operators of LottoPalace and thus also the responsible points of contact for complaints.
For interested investors, customers and legal representatives, we have listed the detailed arrangement of LottoPalace companies in the chart above. It should be noted that LottoPalace is driven by the very same call centers, boiler rooms, and IT-guys as the many binary options broker sites and the online sports betting offerings of the VELTYCO Group.
Tunegames Holding Ltd, a company of the VELTYCO Group, holds the license to utilize LottoPalace for the sale of lottery tickets. More information can be found in the prospectus of VELTYCO. ALTAIR ENTERTAINMENT N.V., a company controlled by Uwe LENHOFF has been commissioned by Tunegames Holding Ltd to market LottoPalace. T4U Marketing Ltd, which is also part of VELTYCO group of companies uses its website tippen4you.com to advertise LottoPalace and produce positive reviews for the German-speaking markets (without disclosing the related party status).
The table below lists all companies involved in the operation of LottoPalace:
|Tunegames Holding Ltd (link)||VELTYCO GROUP PLC||holds an exclusive license to utilize the website. More info in VELTYCO’ prospectus.|
|ALTAIR ENTERTAINMENT N.V. (link)||Uwe LENHOFF||has been commissioned by Tunegames Holding Ltd to operate LottoPalace|
|PAYIFIC LTD (link)||Uwe LENHOFF||subsidiary of ALTAIR ENTERTAINMENT N.V. and typically responsible for payment transactions.|
|T4Y MARKETING LTD (link)||VELTYCO GROUP LTD||promotes LottoPalace in German-speaking markets and produces positive fake news.|
The current operators of LottoPalace, ALTAIR ENTERTAINMENT N.V., and its subsidiary PAYIFIC LTD have already received numerous warnings from regulatory authorities in different jurisdictions regarding unauthorized business operations. In this respect, these people are accustomed to complaints and official prosecutions and are difficult to get hold of because of their complicated offshore constructions. The good news here is that VELTYCO GROUP PLC, as a public-listed company in London (UK) and cannot hide behind these constructions.
Where Should Disappointed Customers Turn to?
In the event of complaints that cannot be resolved through LottoPalace support, we recommend that you contact the CEO of VELTYCO, Melissa BLAU, directly by email (info@Veltyco.com) or phone (+44 (0)1624 605 764). Send her a description of the incidents and ask for her support. If necessary, you can also reach Melissa BLAU via LinkedIn.