LottoPalace Collapse Ante Portas? Dashboard Not Accessible to Clients

VELTYCO's Online Lotteries Vertical

LottoPalace is an online platform in the online empire of the now-imprisoned German Uwe Lenhoff and the public Veltyco Group, which he founded. In the last months, FinTelegram has reported several times about the many customer complaints:

  • a few months ago LottoPalace closed its Facebook page after many negative reviews;
  • Customers have complained in vain about missing refunds and withdrawal issues. Accusations of fraud became pretty loud;
  • FinTelegram received complaints where several hundreds of thousands of Euros have not been paid out despite multiple pledges;
  • Since a few days, LottoPalace customers can no longer register on the website

LottoPalace was beneficially owned and operated by the German Uwe Lenhoff through his offshore entities Altair Entertainment N.V. and Payific Ltd. There have been numerous warnings against both companies from financial market supervisory authorities in various countries. Nevertheless, the public Veltyco Group has continued to promote LottoPalace and continuously added new customers and thus potential victims to the platform.

Lenhoff was arrested as a result of an enforcement action conducted by Austrian, German, Czech and Bulgarian authorities after almost two years of investigations. He is currently in custody in Austria. He is accused of financial crime, money laundering, and fraud. His business partner Gal Barak was also arrested in the course of this action in Sofia. His partner in the USA, Gery “Gabi” Shalon, is also charged with 23 counts that are threatened by a maximum prison sentence of almost 200 years.

File Your LottoPalace Claim

We encourage LottoPalace customers who have suffered damages to make their claims through our EFRI initiative. The EFRI management and attorneys involved plan to assert claims against Veltyco and its officers on the basis of existing claims from other illegal websites.