After the extradition of the Wolf of Sofia, the Israeli Gal Barak, a new drive comes into the respective authorities’ investigations. Currently, enforcement agencies and prosecutors investigate the binary options and broker scams around E&G Bulgaria, Veltyco Group, and Novox Capital. Since Barak’s extradition, numerous former companions and employees of Gal Barak have contacted FinTelegram and provided new and valuable information. One of Barak’s partners, the German Uwe Lenhoff, has already been arrested in January 2019. Prosecutors from several EU jurisdictions charge Lenhoff and his co-conspirators such as Betim Tasholli of running a criminal organization, money laundering, and investment fraud.
The Serbian battleground
We have affidavits from a Serbian law firm that the Israeli Amit Hulin (in the picture above left with Gal Barak) was responsible for Barak’s business in Serbia. Among other things, he managed boiler rooms on the Balkans but also organized the payments of the cheated retail investors through Global Payment Solutions Podgorica. Hulin was one of Gal Barak‘s most important lieutenants alongside Marina Barak, Kfir Levy, Itzik Gellet, or Jesse Tally. Just to mention a few.
This Israeli Jessy Tally was also responsible for the boiler rooms in Serbia and Bosnia-Herzegovina. We have the respective affidavit of a former partner of Barak.
The financial mastermind
Besides Hulin, Levy, and Tally, Barak’s wife Marina (formerly Marina Andreeva) played a decisive role in the operational management of Barak’s Cybercrime organization. She was primarily responsible for financial management and thus for money laundering. From the bank account papers of the Bulgarian Investbank, for example, it can be seen that Marina Barak organized the majority of the payments.
Large payments were made via the Bulgarian Investbank and the Montenegrin Atlas Banka, Hipotekarna Banka, Nova Banka, and Lovcen Banka to Barak’s offshore companies such as Bright Ideas, Wave Market, New Markets, Start Markets, Street Smart Enterprises, or Seagulf.
Tens of millions of Dollars and Euros have been laundered over these offshore companies in the Marshall Islands, Seychelles, Samoa, Hong Kong, and other well-known compliance havens. As a matter of fact, most of these offshore companies maintained bank accounts with EU banks. A significant part of this has funneled to Israel to companies and/or Israeli like Hoof Media Ltd, or DYISY Group Ltd and Simon Tetroashvili.
Request for information
We hope that information from whistleblowers will continue to come in the interest of the cheated small investors. With their help, we can also identify those who ultimately received a significant portion of the stolen money. In case you have knowledge about broker scams, boiler rooms, and associated money-laundering activities please share it with our FinTelegram research team via our Whistleblower system: