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Ian Beckett Profile picture
@ianbeckett
Apr 6, 2021 • 5 tweets • 6 min read • Read on X
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@ArmitageJim @premnsikka 1/ The Telegraph’s @Will_Kirkman writes of yet another of @theFCA’s made men in the infamous #PremierFX scandal(). PremierFX operated in the FCA’s notorious #Emoney/#API cesspit of #MoneyLaundering & fraud facilitation, but ...
2/ scratch the surface + as if #Wirecard’s fingerprints were not enough it’s the same familiar tale we saw in the #LCF scandal (+ many more) of the FCA not just asleep at the wheel, but actively turning a blind eye to multiple red flags. In the case of #PremierFX, ...
3/ the FCA astonishingly ignored #PremierFX itself reporting to the FCA that it had been fined by the Bank of Portugal for operating illegally. In yet another parallel to the damning Dame Gloster #LCF report lashing the FCA, we also saw in the PremierFX scandal the ...
4/ “Halo Effect” of a “FCA sticker” being used to trick punters in to believing that all of #PremierFX’s activities were #FCA authorised & regulated/#FSCS insured. Bank Of Portugal fine aside, if the FCA had even bothered to look at PremierFX’s website they couldn’t fail to ...
5/5 notice unauthorised activities taking place - more red flags missed + again a striking parallel to Dame Gloster’s scathing #LCF report on the FCA’s gross regulatory failure.

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More from @ianbeckett

Ian Beckett Profile picture
Feb 12, 2025
1/ ‘Oliver Ryan’ (Labour MP - Burnley, Padiham & Brierfield), UNMASKED as second ‘Tameside Council’ linked @UKLabour MP member (along with ‘Andrew Gwynne’, Labour MP - Gorton and Denton) of ‘vile WhatsApp group in which racist, sexist & anti-Semitic messages were exchanged’ ().dailymail.co.uk/news/article-1…Image
2/ ‘Tameside Council’, next door to ‘Oldham Council’ (of ‘grooming gang’ infamy), has been a ‘rotten borough’ for years. ‘Oliver Ryan’, one of many @UKLabour nepo-babies, is the son of a Tameside Councillor & was a Tameside Councillor at age 19 (2015) - one of “the gang”. Image
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3/ A 09/2016 ‘Tameside Council’ document ‘REVIEW OF CHILD SEXUAL EXPLOITATION’ noted “over the last 2 years, a series of inquiries & reviews have highlighted significant weaknesses in our collective action to protect vulnerable children and young people from sexual exploitation”. Image
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Read 20 tweets
Ian Beckett Profile picture
Dec 15, 2024
1/ Russian #FSB reportedly raided an alleged #MiltonGroup linked investment scam call centre in Moscow, allegedly responsible for defrauding 100,000 people in 50 countries: 11 arrests (). < Warning: note possible disinformation >themoscowtimes.com/2024/12/09/rus…
2/ Russian #FSB claimed the call center was part of an international network, the #MiltonGroup, originally exposed in 2020 by a consortium of more than 20 news outlets around the world, including #DagensNyheter in Sweden, @OCCRP & #TimesofIsrael (dn.se/nyheter/sverig… AND occrp.org/en/organizatio… AND timesofisrael.com/israeli-run-sc…).
3/ The #FSB reportedly said it had arrested 11 incl. an Israeli-Ukrainian citizen ‘J. D. Keselman’ alleged to be one of the company’s heads. An arrest warrant reportedly was also issued for an Israeli-Georgian citizen ‘D. Todua’, alleged to be the other company head. Image
Read 6 tweets
Ian Beckett Profile picture
Mar 21, 2024
@ArmitageJim @premnsikka 1/ ‘'Solid gold' payments card case exposes limits of UK regulator (@theFCA). Arrest of #Nvayo's Christopher Scanlon raises questions about @theFCA’s ability to oversee digital payments sector. (). #Emoney #OpenBanking ft.com/content/20e7ed…

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2/ In 06/2017 #OnlineGambling op #GVC Holdings Plc (f/k/a #Entain) announced the completion of the sale of it’s ‘controversial’ in house #FCA auth. payment processing & card issuing group: ‘#Kalixa Group’ (f/k/a ‘#CQR Group’) that came in #GVC’s acquisition of ‘controversial’ #OnlineGambling op #BWIN.Party.Image
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3/ Surprisingly, #Kalixa Group was sold by #GVC for a fraction of its expected value to #Senjo Group, (linked to the #Wirecard scandal). Surprisingly, a month later it was announced that #GVC had sold part of #Kalixa Group: ‘BW Pay Ltd’ (up until shortly before the #Senjo sale named #Kalixa Pay - a #FCA auth debit card issuer/#Emoney op) to (UBO) Christopher Scanlon.Image
Read 5 tweets
Ian Beckett Profile picture
Dec 25, 2023
1/ #Wirecard’s former CFO ‘Burkhard Ley’ charged by German prosecutors with #fraud, 3 years after the now notorious German payment processing unicorn #Wirecard imploded. But who was ‘Burkhard Ley’ ? (‘Wirecard’s Mr Teflon’ - ). handelsblatt.com/finanzen/banke…Image
2/ Burkhard Ley was a bank clerk at a German savings bank (1982-8) before joining the now notorious #SalOppenheim private bank (1988-2000), rising to its director of corporate Finance. #SalOppenheim was one of Europe’s biggest/most conservative private banks, interacting with … Image
3/ the ‘German elite’ since 1789. That all changed when purportedly ‘Baron Christopher von Oppenheim’ took over the management of the bank in the 90s, surrounding himself with ‘outsiders’ - the bank allegedly going ‘full tonto’ in both risky & shady ‘investment banking business’. Image
Read 14 tweets
Ian Beckett Profile picture
Dec 15, 2023
1/ #Wirecard’s former CFO ‘Burkhard Ley’ charged by German prosecutors with #fraud, 3 years after the now notorious German payment processing unicorn #Wirecard imploded. But who was ‘Burkhard Ley’ ? (‘Wirecard’s Mr Teflon’ - Handelsblatt 10/2021 - ). drive.google.com/file/d/1vo5dQQ…
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2/ ‘Burkhard Ley’ was a bank clerk at a German savings bank (1982-8) before joining the now notorious #SalOppenheim private bank (1988-2000), rising to its director of corporate Finance. #SalOppenheim, was one of Europe’s biggest & most conservative private banks, interacting … Image
3/ with the ‘German elite’ since 1789. That all changed when ‘Baron Christopher von Oppenheim’ took over the management of the bank in the 1990s, surrounding himself with ‘outsiders’ - the bank allegedly going ‘full tonto’ in both risky & shady ‘investment banking business’. Image
Read 14 tweets
Ian Beckett Profile picture
Dec 6, 2023
@ArmitageJim @premnsikka 1/ #RationalFX: Yet another of Blinky’s (@theFCA) ‘big fish’ from its uber notorious #Emoney/#FX scene bites the dust & put in to ‘special administration’, leaving 10s of 1000s of it’s customers ‘in limbo’ & unprotected by @FSCS (). fca.org.uk/news/news-stor…
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2/ #RationalFX collapsed in to insolvency a few days ago, it’s long term (since 2013 y/end) auditor (#CLAEvelynPartners) signed off it’s last (UNqualified) 2022 y/end audited accounts on 23/03/2023 this year - in the background, the dual ‘red flags’ of: an extended (18 month) … Image
3/ reporting period; & in this extended period, the resignation of its owner (Rajesh Agrawal) as a director. A quick squizz at the last filed accounts turned up two rather strange items. Firstly, a rather strange (‘Other Income’) note to the accounts: ~ £1m in ‘’receipts from …
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Read 17 tweets

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