The landscape of online gambling and cryptocurrency processing is increasingly marred by legal controversies, particularly involving entities like SoftSwiss, CoinsPaid, and the Cypriot payment processor Payabl. Founded by former Wirecard executives, Payabl has come under scrutiny for its aggressive legal tactics against critical media, drawing unsettling parallels to the infamous German fintech’s downfall. This alliance with CoinsPaid in a Strategic Lawsuit Against Public Participation (SLAPP) against FinTelegram raises serious questions about the operational practices of both companies in the high-risk payment sector.
Connections to SoftSwiss and Regulatory Scrutiny
SoftSwiss, along with its affiliates such as CoinsPaid, has faced numerous allegations of money laundering, sanction evasion, and fraudulent activities. The involvement of key figures like Ivan Montik and Max Krupyshev in these controversies highlights the interconnectedness of these companies. Payabl’s co-founders, Dietmar Knoechelmann and Ruediger Trautmann, mirror the aggressive strategies employed by Wirecard, focusing on high-risk sectors like gambling and online trading, similar to SoftSwiss’s operational model.
Legal Tactics and Media Intimidation
Payabl and CoinsPaid’s collaboration in a SLAPP lawsuit against FinTelegram, allegedly based on forged documents, exemplifies a troubling trend of legal intimidation. This tactic aims to silence critical media coverage, reminiscent of Wirecard’s infamous attempts to discredit journalists. Payabl has also threatened media outlets like Scam-Or, seeking to remove unfavorable content from search results, further indicating a desire to control the narrative surrounding their operations.
The Dangerous Alliance: Payabl and CoinsPaid
The partnership between Payabl and CoinsPaid not only facilitates high-risk payment services but also raises concerns about their shared operational practices. The SLAPP lawsuit against FinTelegram is a blatant attempt to stifle public interest journalism, suggesting a deeper alliance that may extend to their core business dealings. The use of forged documents in this legal battle undermines the credibility of both companies and raises questions about their transparency.
A Pattern of Intimidation and Concealment
The legal tactics employed by Payabl and CoinsPaid echo the strategies of Wirecard executives, who famously targeted journalists to suppress accurate reporting. This pattern of intimidation strongly suggests that both companies may be attempting to hide something significant. If they had nothing to conceal, they would engage openly with journalists and compliance platforms rather than resorting to SLAPP tactics and legal threats.
The realm of online casinos and cryptocurrency exchanges is fraught with legal challenges, particularly for entities like SoftSwiss and its affiliates, including CoinsPaid, AlphaPo, Merkeleon, and Dream Finance. These companies have faced serious allegations related to money laundering, evasion of sanctions, and fraudulent activities. Prominent figures such as Ivan Montik, Max Krupyshev, Pavel Kashuba, Dmitry Yaikov, Roland Yakovlevich Isaev, and Paata Gamgoneishvili are central to these controversies.
Regulatory Scrutiny and Corporate Connections
Operating within the niche market of online casinos presents numerous legal complications. SoftSwiss, which is purportedly linked to its parent company Dama NV, has incurred multimillion-euro fines due to non-compliance with gambling regulations. Dama NV has strong ties to Direx NV, another significant player in the gambling industry, which was investigated by the Australian Communications and Media Authority (ACMA) in 2019. The leadership of Direx NV, including Ivan Montik and Maksim Max Trafimovich, has been scrutinized, with legal representation provided by REVERA, a firm closely associated with executives from SoftSwiss.
Crypto Processing Scandals and Allegations
Numerous individuals connected to these companies, primarily of Belarusian descent, have been accused of facilitating cryptocurrency transactions aimed at the Russian market. These activities are alleged to assist in circumventing sanctions while obscuring illicit financial trails.
Conclusion: The Need for Vigilance and Oversight
The troubling connections between Payabl, CoinsPaid, and SoftSwiss highlight the complex interplay of online gambling, cryptocurrency processing, and legal intimidation. As these companies continue to operate in high-risk sectors, the need for rigorous oversight and scrutiny becomes increasingly urgent. The coordinated efforts to silence watchdogs and control the narrative raise red flags about the integrity of their operations, underscoring the necessity for transparency in the high-stakes world of online finance.