Tag: GPay

StablR, the Malta-based and MFSA-regulated issuer of EURR and USDR stablecoins, promotes itself as a compliant, euro-denominated digital currency provider under the EU’s new MiCA regime. However, what is missing in its clean-cut public image is the checkered past of its founder and CEO, Gijs op de Weegh, who served as COO of Payvision, a Dutch payment processor infamous for facilitating cybercrime.

StablR, a stablecoin issuer founded by Dutch tech entrepreneur Gijs Op de Weegh in April 2023, has garnered attention with its MiCA-compliant euro stablecoin EURR and recent seed financing success. However, a closer examination reveals significant concerns regarding the company’s leadership and background that could undermine investor confidence. Key individuals of the StablR scheme, including its founder and CEO, have a past with the notorious scam facilitator Payvision.

The Israeli scammer and cybercriminal Gal Barak was sentenced to four years in prison on September 1, 2020 for investment fraud and money laundering. Now the victims of the various scams of his Bulgarian-Israeli cybercrime organization can assert their claims. The money for this must now be found. It has been laundered with the help of negligent or intentional banks and payment processors like Payvision. The authorities followed the money and recorded its trace in detail. Barak's partners Gery Shalon and Vladislav Smirnov were also uncovered.

While Gal Barak today, August 26, 2020, has another day of proceedings in the Vienna Cybercrime Trials, the forced liquidation of GPay, which had already been ordered by the UK High Court on June 23, 2020, was registered at Companies House. In the public interest based on the investigations of the UK Insolvency Service. A formal act but one with symbolic effect. GPay was one of the main vehicles in the money laundering machine of Gal Barak and its E&G Bulgaria.

On July 8, 2020, probably the biggest European financial cybercrime trials ever starts in Vienna. Prosecutors charge Gal Barak, one of the major Israeli binary options and broker scammers, of investment fraud and money-laundering. With his scam brands XTraderFX, SafeMarkets, Golden Markets, CryptoPoint, or OptionStars he has defrauded tens of thousands of victims in Europe. Right before the trial UK authorities closed down the cybercrime organization's money-laundering hub.

In the first, introductory part of our Payvision Story, we set out some basic facts. We showed that Payvision,...

Amsterdam-based Payvision and its founder and CEO Rudolf Booker played an important role as payment service providers (PSP) in...

The story of the German Uwe Lenhoff, his public UK company Veltyco Group PLC and the cybercrime organization associated...

A bomb threat against the Palace of Justice in Sofia has hindered the scheduled court hearing for the extradition...

The illegal broker schemes operated by Gal Barak and his E&G Bulgaria stole more than EUR 100,000,000 from retail...

Registered member of the EFRI campaign to recover their funds from the illegal broker sites of Gal Barak and...

The enforcement actions of Bulgarian, German and Austrian police authorities in Bulgaria and other countries against the operators of...