Binary Options Fraud Option888 – Office Raid In Germany

tamir
Fri, 25 Jan 2019 09:31:48 +0000
Binary Options, Cybercrime, Illegal Broker Activities, Veltyco, EFRI, LottoPalace, Marcel Noordeloos, Melissa Blau, Option888, XMarkets

The binary options platform Option888 was one of the worst fraud sites in the online trading sector of recent years in German-speaking markets. Thousands of retail investors have been defrauded by this fraudulent scheme which operated with various trading styles and domains. FinTelegram has carried out extensive research over the last few months, uncovered the backers and reported on the network of companies and people behind this fraud scheme. Today it can be stated without any doubt that the German Uwe LENHOFF through his various offshore companies and the listed VELTYCO PLC is the economic owner and operator of this fraud platform.

Office Raid in Cologne

We have now been provided with documents from the Munich public prosecutor’s office showing that the German authorities already raided the office of the Cologne-based B2G GmbH in the spring of 2018. This office raid was carried out in the course of investigations into fraud against the operators of illegal binary options platform Option888.

Cologne is also the home turf of the German online gambling veteran Uwe LENHOFF, who, according to current knowledge, is one of the beneficial owners and operators of Option888.

LENHOFF is also the founder of the public-listed VELTYCO PLC in the UK and has led the company together with his partner Marcel NOORDELOOS since its inception in 2016. In addition, LENHOFF also operates LOTTOPALACE or XMarkets via his various offshore companies. Cologne is also the home to sports betting operator Bet90, another LENHOFF and VELTYCO venture. Moreover, CryptoTec, producer of sports betting and gambling terminals is registered in Cologne and part of the LENHOFF network of companies.

The knowledge gained from the house search and the advanced investigations since then can make a significant contribution to recovering the funds from fraudulent investors in the course of the EFRI campaign. Numerous German and Austrian media such as the Vorarlberger Nachrichten have reported on the victims of Option888. Financial supervisory authorities, as well as, consumer protection organizations and lawyers have warned of Option888 many times.

Report Claims and Findings

If you are one of the victims of Option888 or have any intel about Option888 or VELTYCO PLC and other related companies such as Celestial Trading, Capital Force or Celtic Pay, please register them in our EFRI campaign:

File Claim And Intel With EFRI