Online Trading Betrug

Case Description

SafeMarkets, Golden Markets, XTraderFX, are illegal, unregistered FOREX, CFD and asset trading platforms (brokers). They have already been banned by financial market regulators in different jurisdictions. The platforms have been operated via different Domains (e.g. .com and .biz) over the last couple of years. The beneficial owners of the platforms have already been identified in cooperation with enforcement agencies and law offices.

Responsible Perpetrators

It is known that the Israeli citizen Gal Barak is behind the above-mentioned broker scams. He runs E&G Bulgaria EOOD with a dozen other Israeli citizens in Bulgaria. This Bulgarian company controls both the scams and the illegal boiler rooms (call centers), which attack investors via telephone calls, WhatsApp and email. An EU arrest warrant has been issued against Gal Barak. He is in Bulgaria where he continues to run his vast cyberscam organization.

Update: GAL Barak´s first hearing for his indictment is set for July 8th, 2020 in Vienna, Austria

Update: Uwe Lenhoff (deceased) was arrested 29 January 2019 in Austria and taken into custody, jailed in Saarbrücken, Germany. Lenhoff died whilst in custody 6 July  2020.

Registration of your claim with EFRI means:

  • joining a community of 210 victims of GAL BARAK et al.
  • providing us with a Power of Attorney to enable us to represent you against the authorities
  • providing us with all information about the fraud which happened to you (i.e. all deposit slips, copy or info of the criminal complaint filed with law enforcement
  • being included in the money laundering complaints already filed against all European service providers for the scams operated by GAL BARAK et al.
  • being updated on a regular basis about what is going on in the criminal investigations against the scammers
  • joining our efforts to put pressure on the European service providers and authorities to get reimbursement for the losses incurred
  • holding accountable the European organizations and authorities for not creating a safe European cybernet for retail investors.

How do I register my claim?

Investors who have lost their deposits or/and sustained financial harm from these illegally operating broker sites can register their claims using the form provided for this purpose. Please simply click on the “Register claim” button, fill in the form and send it to us.

Please be aware, there is a fee of EUR 75, payable via PayPal to the not-for profit organization EFRI. This is for claim registration, Power of Attorney (POA) and membership of the EFRI Association, and will be used to cover the administrative costs associated with the campaign. Your data will be treated confidentially for the purpose of the campaign only.