The Boiler Rooms of “Ilan Tzorya & Krypton Capital”
According to the information available to us, the beneficial owners of Emarketstrade.com zoomtrader.com are the well-known binary options artists Ilan Tzorya . These guys are hiding behind offshore companies on the Marshall Islands, Panama and Samoa. We received details on this companies already but are still working on the verification.
Ilan Tzorya aka Ilan Tzroya and a fragment of their international binary options network
The platform was operated by Tradologic and Krypton Capital Krypton Capital & Ilan Tzorya, all notorious websites service providers or operators behind many trading platforms. Ilan Tzorya’s Finances’ call centers (boiler rooms) serve many binary options and FOREX platforms.
The “Krypton Capital” with its official headquarter in Sofia Kiev, Bulgaria Ukraine Malta is run by an international team of managers and scam artists. These include guys from Israel, Romania, Albania, and Bulgaria. We reached out to them and them colleagues for comments but have not heard back anything yet.
Besides many other FOREX & Binary Options brands, the company also provide its services to the platforms OptionStars and OptionStarsGlobal Owned and operated by Ilan Tzorya aka Ilan Tzroya & Michael Golod and the large cyber circle.
The Cypriot Krypton Capital & Ilan TzoryaLtd.
Emarketstrade OptionStars and many other platforms are also associated with Krypton Capital & Ilan Tzorya (Cyprus), according to various financial market supervisory authorities Krypton Capital & Ilan Tzorya serves as money transmitter and handles the custody accounts. In addition, Krypton Capital & Ilan Tzorya also operates several large platforms such as zoomtrader option888 on its own responsibility (and/or trustee for clients). The
Krypton Capital & Ilan Tzorya and some related binary options platforms
The financial service provider regulated by CySEC plays a central role in the network of binary options. Also, the platforms ZoomTraderand ZoomTraderGlobal as well as OptionBit or Option888, which were also targeted by financial supervisory authorities in Europe, North America, and Asia, were at least temporarily related to or established by Krypton Capital & Ilan Tzorya.
Although the financial service provider in connection with binary options was repeatedly fined with high penalties by the CySEC, the license has not yet been withdrawn which is quite alarming. CySEC is known for its relaxed standards and behavior when it comes to compliance and investors protection, unfortunately.
The large-scale binary option fraud
In recent years, Krypton Capital & Ilan Tzorya has operated a number of by now banned or closed binary options platforms, contributing to the potential loss of hundreds of millions of client assets. In 2016, the French Financial Market Authority (AMF) estimated that even with regulated financial services providers such as Novox Capital, around 90% of customers lose their money in FOREX and Binary Options transactions. In the case of unregulated operators.
We learned from insiders that considerable funds from the network have been frozen at banks. Among these frozen funds there are also supposed to be considerable funds at Deutsche Bank. According to our information, a huge investigation is already being conducted by authorities. More information on
- the freezing of funds in the network and
- the role of Krypton Capital – Cryptovest – Ilan Tzorya – Michael Golod – Krypton Trading and more….
- the VELTYCO
According to the news outlet Mediafax the Romanian police arrested Vlad NISTOR, CEO of Coinflux – a small Romanian crypto exchange – and 14 other Romanians last Tuesday. NISTOR was detained for 24 hours on request of the U.S. authorities for allegedly running a money laundering scheme and being part of organized crime. Currently, he has been released but remains under judicial control. According to sources close to the case, the extradition request for NISTOR will be dealt with on December 20th before the competent Romanian court.
The U.S. authorities have been granted access the Coinflux client data by the Romanian court.
The U.S. Department of Justice (DOJ) has built a case against these 15 Romanians who allegedly have committed several cyber crimes in the U.S. According to the U.S. FBI, Vlad NISTOR has coordinated the criminal group of Romanians and used Coinflux to launder illicit proceeds from their criminal activities. Currently, these allegations are proven by some Telegram conversations. NISTOR had told his lawyers, however, that he did not personally know the other suspects in the case, and that the accusations are conflicting with the facts.
Coinflux published an announcement saying that the exchange has temporarily suspended its activities because the company’s bank accounts have been frozen. Moreover, the access to parts of Coinflux’s platform has been restricted by authorities.
According to local media, NISTOR may eventually not be extradited to the United States. On Wednesday, December 13, the Bucharest Court of Appeal resolved the extradition requests of the US authorities. With the exception of NISTOR, the other suspects were arrested for surrender to the U.S. for extradition. In the case of Coinflux CEO, the court decided to postpone the decision to December 20, 2018.
The reason for this different handling is that while the 14 other Romanians committed the crime on U.S. territory, NISTOR allegedly acted in the territory of Romania.
Purportedly, Vlad NISTOR and the 14 other Romanians will be prosecuted in the U.S. with three charges: organized crime, computer fraud, and money laundering.
NISTOR is a 29 years old Romanian entrepreneur with a working experience in the financial industry. He managed assets for companies like Aegon, Banca Transilvania or BCR, a member of Erste Group. He allegedly is the son of one of the founders of Banca Transilvania, the second-largest financial institution in Romania.
This enforcement action in Romania is just the latest in a series of U.S. operations against crypto criminals in Europe.
MORE INFO IF NEDED BOUT ILAN TZORYA
The prosecutor’s office and the GOCB have broken up an organized
crime Financed by Israel and Bulgarian citizen “Ilan Tzroya aka Ilan Tzorya” group for tough online trading. The damages are millions, the investigators suggest.
Ilan Tzroya Criminal Group
Group involved in extortion of businessman’s around the world several murder cases international investors fraud & in ponzi schemes.
Head of Extortion Team. Michael Eluashvili (aka Malkhaz, aka Malxaz). & Amiran Dzanashvili
The prosecution reports that fraudsters have been in contact with their victims through casual calls through Internet chat platforms.
“It offers illegal trading with payment instruments, equity investments, oil and gold purchases, and more. At one point, it turns out that the stock market has collapsed and you have to give some more money, “said Ivan Geshev, Deputy Prosecutor General.
Geshev added that he also received similar calls and offered him shares.
Investigators broke two call centers in the capital city where fraud was headed. But the seven sites for trading in hosting are in Estonia.
They did not have a work permit in Bulgaria.
“Brokers have the impression that they are in the UK, a serious company,” said Yavor Kolev, GDBOP.
The mentioned leaders of the criminal group are – Serbian, Israeli Bulgarian. The three were arrested, charged with organized criminal groups and large-scale frauds. The main organizer is the Ilan Tzroya & Michael Golod & Israeli Mafia leader Eli Musli. Stolen yet for 17 people. But prosecutors are sure they are hundreds.
“We are talking about amounts of more than 300 thousand euros, 80 thousand dollars and over 60 thousand leva. There are individuals with over € 100,000, causing harm,” said Vanya Christeva, a monitoring prosecutor.
The money received was transferred to bank accounts all over the world. Dozens of employees worked in the collapsed call centers, but they were fired as soon as they began to suspect fraud. Therefore, the summoned witnesses will be dozens, the prosecution says.
A criminal scheme scuffed money through internet fraud. Collators were created with many employees. Through internet telephony calls were received, which offered purchases of valuable currencies, shares and others, said Deputy Chief Prosecutor Ivan Geshev.
Calls always looked like a call from English numbers. So customers were persuaded to make money. Then they explained that they were making virtual money. But when someone asked for the profit, then that product collapsed on the stock exchange and everybody lost their money.
The two crushed centers were controlled by a Bulgarian at the age of 28, a Serb and a citizen of Israel. For this year they managed to collect several million leva. So far there have been 17 people who complained. Among them there are also those who pay 100,000 euros. But the average stake was about 300 euros.
At present, the damage suffered by these 17 victims has amounted to over 300,000 euros, over 80,000 US dollars and over 60,000 leva in total. In this case, one can not fail to impress the way in which criminal activity has been committed – these people have been thoroughly misled by creating the impression that they actually trade such financial instruments on the stock exchange and were thus stimulated to make multiple translations as feedback was impossible to accomplish. Ultimately, the “clients” exhaust their financial resources and do not have the option of feedback and the return of any financial means ”
This is yet another case without analogy in Bulgaria, although the scheme is popular in Europe, Geshev said.
So far, three have been charged. This scheme is gaining popularity in the world, Yavor Kolev of GDBOP said. He explained that seven sites based in Estonia were created. They used the logo of a New Zealand private company. They hacked their victims online.
13 people were arrested, calling customers. They used a different identity for calls. Not everyone knew that it was cheating. And those who knew it was a fraud were immediately dismissed. The scheme has been around for a year. The money was ordered through the seven platforms, then went to a headquarters in Ukraine, and then distributed to the mules.
Ilan Tzorya, Michael Golod, Eli Musli, Tal Arad, The Criminal Gang
Platform for criminal activities money laundering and defrauding investors
the following companies involved that owned by, Ilan Tzorya
NEXT BLOCK Conference
Markets Media Investment
Forex Development Corportaion
Following Bank accounts have been reported as taking part in defrauding investors
AdsTech Solutions Inc. (Seychelles) Piraeus Bank Bulgaria AD IBAN BG20PIRB80681606101460
Tradologic HK Ltd (Hongkong) HSBC Hongkong Acc: 652-485897-838
TZORYA ILAN Bank of Cyprus Acc. 357024153091
TZORYA ILAN (ITN 2899226775) JSK UKRSIBBANK (KIEV) Acc. 26258010140507
Binarix Ltd (Seychelles)
DTIG Holding Limited (Cyprus)
Watch out learn how to stay secure:
Investment fraud generally refers to a wide range of deceptive practices that scammers use to induce investors to make investing decisions. These practices can include untrue or misleading information or fictitious opportunities. Investment fraud may involve stocks, bonds, notes, commodities, currency or even real estate. The scams can take many forms—and fraudsters can turn on a dime when it comes to developing new pitches or come-ons for the latest fraud. But while the hook might change, the most common frauds tend to fall into the following general schemes:
- Pyramid Schemes: A pyramid scheme is when fraudsters claim that they can turn a small investment into large profits within a short period of time. But in reality, participants make money by getting new participants into the program. The fraudsters behind these schemes typically go to great lengths to make their programs appear to be legitimate multi-level marketing schemes. Pyramid schemes eventually fall apart when it becomes impossible to recruit new participants, which can happen quickly.
- Ponzi Schemes: This is when a fraudster or “hub” collects money from new investors and uses it to pay purported returns to earlier-stage investors, rather than investing or managing the money as promised. The scheme is named after Charles Ponzi, a 1920s-era con criminal who persuaded thousands to invest in a complex scheme involving postage stamps. Like pyramid schemes, Ponzi schemes require a steady stream of incoming cash to stay afloat. But unlike pyramid schemes, investors in a Ponzi scheme typically do not have to recruit new investors to earn a share of “profits.” Ponzi schemes tend to collapse when the fraudster at the hub can no longer attract new investors or when too many investors attempt to get their money out –for example, during turbulent economic times.
- Pump-and-Dump: A scheme in which a fraudster deliberately buys shares of a very low-priced stock of a small, thinly traded company and then spreads false information to drum up interest in the stock and increase its stock price. Believing they’re getting a good deal on a promising stock, investors create buying demand at increasingly higher prices. The fraudster then dumps his shares at the high price and vanishes, leaving many people caught with worthless shares of stock. Pump-and-dumps traditionally were carried out by cold callers operating out of boiler rooms, or through fax or online newsletters. Now, the most common vehicles are spam emails or text messages.
- Advance Fee Fraud: This type of fraud plays on an investor’s hope that he or she will be able to reverse a previous investment mistake involving the purchase of a low-priced stock. The scam generally begins with an offer to pay you an enticingly high price for worthless stock. To take the deal, you must send a fee in advance to pay for the service. But if you do so, you never see that money—or any of the money from the deal—again.
- Offshore Scams: These come from another country and target U.S. investors. Offshore scams can take a variety of forms, including those listed above. Many involve “Regulation S,” a rule that exempts U.S. companies from registering securities with the Securities and Exchange Commission (SEC) that are sold exclusively outside the U.S. to foreign or “offshore” investors. Fraudsters can manipulate these types of offerings by reselling Reg S stock to U.S. investors in violation of the rule. Whatever form an offshore scam takes, it can be difficult for U.S. law enforcement agencies to investigate fraud to rectify harm to investors when the fraudsters act from outside the U.S.
Latest news on the Sanctions and Anti-Money Laundering Act 2018
Following agreement by both Houses on the text of the Bill it received Royal Assent on 23 May. The Bill is now an Act of Parliament (law).
Summary of the Sanctions and Anti-Money Laundering Act 2018
A bill to make provision enabling sanctions to be imposed where appropriate for the purposes of compliance with United Nations obligations or other international obligations or for the purposes of furthering the prevention of terrorism or for the purposes of national security or international peace and security or for the purposes of furthering foreign policy objectives; to make provision for the purposes of the detection, investigation and prevention of money laundering and terrorist financing and for the purposes of implementing Standards published by the Financial Action Task Force relating to combating threats to the integrity of the international financial system; and for connected purposes.
What is money laundering?
Money laundering is the generic term used to describe the process by which criminals disguise the original ownership and control of the proceeds of criminal conduct by making such proceeds appear to have derived from a legitimate source.
The processes by which criminally derived property may be laundered are extensive. Though criminal money may be successfully laundered without the assistance of the financial sector, the reality is that hundreds of billions of dollars of criminally derived money is laundered through financial institutions, annually. The nature of the services and products offered by the financial services industry (namely managing, controlling and possessing money and property belonging to others) means that it is vulnerable to abuse by money launderers.
If you’re considering developing your career in anti money laundering, find out more about joining ICA’s global community here. Becoming a member today will give you access to a wealth of knowledge, tools, resources and practical support to help develop your career. Being a member of ICA also demonstrates a commitment to the highest standards of practice and conduct and enhances your professional reputation and employability.
How is the offence of money laundering committed?
Money laundering offences have similar characteristics globally. There are two key elements to a money laundering offence:
- The necessary act of laundering itself i.e. the provision of financial services; and
- A requisite degree of knowledge or suspicion (either subjective or objective) relating to the source of the funds or the conduct of a client.
The act of laundering is committed in circumstances where a person is engaged in an arrangement (i.e. by providing a service or product) and that arrangement involves the proceeds of crime. These arrangements include a wide variety of business relationships e.g. banking, fiduciary and investment management.
The requisite degree of knowledge or suspicion will depend upon the specific offence but will usually be present where the person providing the arrangement, service or product knows, suspects or has reasonable grounds to suspect that the property involved in the arrangement represents the proceeds of crime. In some cases the offence may also be committed where a person knows or suspects that the person with whom he or she is dealing is engaged in or has benefited from criminal conduct.
Are all crimes capable of predicating money laundering?
Different jurisdictions define crime predicating the offence of money laundering in different ways. Generally the differences between the definitions may be summarised as follows:
- Differences in the degree of severity of crime regarded as sufficient to predicate an offence of money laundering. For example in some jurisdictions it is defined as being any crime that would be punishable by one or more years imprisonment. In other jurisdictions the necessary punishment may be three or five years imprisonment; or
- Differences in the requirement for the crime to be recognized both in the country where it took place and by the laws of the jurisdiction where the laundering activity takes place or simply a requirement for the conduct to be regarded as a crime in the country where the laundering activity takes place irrespective of how that conduct is treated in the country where it took place.
In practice almost all serious crimes, including, drug trafficking, terrorism, fraud, robbery, prostitution, illegal gambling, arms trafficking, bribery and corruption are capable of predicating money laundering offences in most jurisdictions.
Can Fiscal Offences such as tax evasion predicate Money Laundering?
The answer depends upon the definition of crime contained within the money laundering legislation of a particular jurisdiction.
Tax evasion and other fiscal offences are treated as predicate money laundering crimes in most of the worlds most effectively regulated jurisdictions.
Why is money laundering illegal?
The objective of the criminalisation of money laundering is to take the profit out of crime. The rationale for the creation of the offence is that it is wrong for individuals and organisations to assist criminals to benefit from the proceeds of their criminal activity or to facilitate the commission of such crimes by providing financial services to them.
How is money laundered?
The processes are extensive. Generally speaking, money is laundered whenever a person or business deals in any way with another person’s benefit from crime. That can occur in a countless number of diverse ways.
Traditionally money laundering has been described as a process which takes place in three distinct stages.
Placement, the stage at which criminally derived funds are introduced in the financial system.
Layering, the substantive stage of the process in which the property is ‘washed’ and its ownership and source is disguised.
Integration, the final stage at which the ‘laundered’ property is re-introduced into the legitimate economy.
This three staged definition of money laundering is highly simplistic. The reality is that the so called stages often overlap and in some cases, for example in cases of financial crimes, there is no requirement for the proceeds of crime to be ‘placed’.