Owner of Alleged Scam Operation ‘E&G Finances‘ Arrested
Bulgarian media has been reporting the arrest of Gal Barak. Barak is the alleged owner of the binary options brands XtraderfX, GoldenMarkets, Safe Markets, OptionStarsGlobal and others. On the surface, these brands are owned by various shell companies with straw men directors, whereas, in reality E&G Finances operated these brands. Barak, is the owner of E&G Finances, a company which claims on its own website to “specialize in the field of telemarketing and direct sales”. On the other hand, E&G Bulgaria, a subsidiary of E&G Finances, promotes that working at E&G is to “Enter the Dynamic world of Financial Services”.
This is an oxymoron, telemarketing and direct sales specialists do not, and can not specialize in financial services. Rather, this is (another one of Gal Barak’s) an Eastern European bucket shop operation(s).
E&G Finance was so corrupt that even a cursory google search will lead you to that inevitable conclusion. A look at Glassdoor, for example is a website where current and former employees anonymously review companies and their management. A search for E&G shows that they have a very low score of 1.5 with 4 reviews from ex-employees including the following:
Not surprisingly, when one operates a scheme that steals millions of dollars from innocent people and threatens employees, it leaves many people disgruntled and motivated for justice. We are happy to oblige. Wealth Recovery has obtained much inside intelligence on Barak’s illicit operation; high level informants, affidavits from previous employees and first-hand evidence from victims of these brands. Because we are in Israel, we have an on-site advantage to receive intelligence from informants and gather the evidence, including the location of their assets and damming affidavits from former employees detailing the inner workings of the fraud.
We do not deal in hearsay, we deal in real intelligence and legally binding affidavits from previous employees which we have provided in the past to various government authorities around the world.
Below is an example of one such affidavit regarding a Gal Barak operation.
Beware of the Secondary Scam
Victims of E&G brands have received emails recently stating a cessation of trading (effectively closing down) while the investigations are taking place. The letter from E&G brands to victims proclaims their innocence and claims that they have acted “flawlessly”. However, if one follows through with contacting the operators that are handling the closing, they will be directed to contact email@example.com – an email address whose corresponding domain shows up nothing, and whose domain was registered only a matter of days ago by a company whose owner is…Gal Barak. There really is no limit to how low these people will go.
We Are The Forefront of the Recovery Process
At Wealth Recovery International, we specialize in recovery for victims of these types of operations. The fraudsters will not hesitate in using underhanded tactics to attack and discredit their victims. Fake reviews, fake websites, fake videos. There are many recovery room scams out there owned by ex-sales agents or ex-owners of binary brands, with some even going as far as hiding behind our good name. Destroying the reputation of the people who are fighting to get the victims their money back is a powerful, if underhanded and sleazy, attempt to minimize the inevitable backlash.
E&G Finances promoted itself as a regulated trading company, in reality this could not be farther from the truth.
Wealth Recovery International has gathered intelligence on the owner and the elaborate corporate scheme including their bank accounts.
With our insider information and our on site presence, we are in a unique position to take action against these entities and individuals in order to recover the money defrauded from our clients. If you have information or would like Wealth Recovery to assist you in recovering your money from these entities, contact us for a free consultation and we will be happy to assess your claim.