T

The Wandering Fraud & an update on the GetFinancial Case!

law enforcement actions against financial cybercrime in Israel Cyprus and Ukraine
Spread financial intelligence

Simona Weinglass provided an update on the GetFinancial Case and the respective law enforcement actions in Israel, which have been initiated by German prosecutors. Allegedly, 15 people have been questioned by the police, four are said to be extradited to Germany. According to The Times of Israel report, court documents state that the cybercrime organization ran the scams GetFinancial, IntegraOption, SolidCFD, TradeSolid, BitCapitalMarkets, MyCoinbanking, Procapitalmarkets, Profitstrade, FXPace, Acceptrade, and Gainfintech using the platforms SpotOption and Tradologic.

EFRI claim sent to David Bar-El

The GetFinancial binary options scam is directly connected to and/or a branch of the E&G Bulgaria cybercrime organization around Gal Barak, his wife Marina Andreeva, Gery Shalon, and Vladislav Smirnov. The cybercrime organization operated on a truly global level. They operated illegal boiler rooms in Israel, Georgia, Armenia, Moldova, Serbia, Bulgaria, and Bosnia Herzegovina, controlled their own illegal payment processors such as Binex or Global Payment Solutions via entities in Montenegro and Serbia.

The Israeli lawyer David Bar-El is the brother-in-law of Gery Shalon and is said to be directly involved in the operation of the GetFinancial scam network. The European Fund Recovery Initiative (EFRI) filed a corresponding complaint in February 2021 and demanded the refunding of the money stolen from the victims back from David Bar-El (screenshot left)

GetFinancial cybercrime case with Gery Shalon and Shota Shalelashvili and David Bar-El

It is not clear at this time whether David Bar-El has been arrested and is among those to be extradited. An insider of the Israeli scammer scene has told FinTelegram that David Bar-El was known as a “wandering fraud.” FinTelegram has extensive Excell lists of payments from victims of the GetFinancial scam. In addition, GetFinancial, as well as David Bar-El, are extensively covered in the criminal files of the German and Austrian authorities.

According to an affidavit of a former partner, Gery Shalon‘s father Shota Shalelashvili was involved in the scam activities. In the relevant period, Shalelashvili was still a Georgian member of parliament and the deputy chairman of the ruling Georgian party. At the time, the opposition accused him of being involved in his son’s money laundering activities.

There will be a lot more new information coming out in the next few hours. Stay tuned.

Leave a Reply

Your email address will not be published. Required fields are marked *