Tzorya Indictment: Part 3
by Gianluigi D
Ilan Tzorya, owner of a software company known to have powered numerous fraud businesses, is still being sought after for his alleged crimes. Through Tradologic, he powered brands that lured investors into depositing capital into the businesses. Like in any fraud story the entrusted money was later on never to be found.
It has also been alleged that he co-owned some of those businesses and used Tradologic to take the information of these victims. The information was used as part of their strategy to attract investors for their money.
An indictment of more than 80 pages, written against him, has been shared with FinLeaks—to which a list of the victims’ names, invested amounts, and subscription duration to the respective brands have been appended.
Along with this, more information about his colleagues, Michael Golod and Milena Kabadzhova, have also been integrated. These names might sound familiar—they have been associated with criminal cases of their own.
Apparently, alleged facts about their share in the story have been considered essential to the success of Tzorya’s scheme.
In part II of the indictment, it mentions:
The role of Tzorya as well as his 2 beloved accomplices in their respective brands have also been described as:
IlanTzorya:“From July 25, 2012 to January 28, 2019, by watching separately who act as accountants or financially responsible for the following subacted, and Milena KABADZHOVA by specifying the appropriate company structures of the Tradologic Group and the Global Media Partners Group and the granting of Money orders;”
MichaelGolod:“From November 1st, 2015 to January 28th, 2019, partly as a direct one perpetrator as authorized signatory of the accounts of Tradologic Solutions Ltd., British Virgin Islands, and Global Fintech Solutions Ltd., British Virgin Islands, in part by having by concluding bogus contracts and implementing the payment service provider in the Tradologic system contributed to the fact that separately pursued accomplices and Milena KABADZHOVA, who is the accountant or financial officer of the companies listed below acted.”
Milena Kabadzhova: “from September 8, 2014 to January 28, 2019 partly as direct bare perpetrator as authorized signatory of the accounts of Global Media Partners Ltd., Seychelles len, and as the de facto authorized to dispose of the accounts of Global Advertising Partners Ltd., Marshall Islands, Global Fintech Solutions Ltd., British Virgin Islands, Global Media Partners Inc., British Virgin Islands, New Markets SA, Samoa, and Tradologic Solutions Ltd., Seychelles, partly by being organized and made available to the company. Men coat with straw
people, setting up the bank accounts using these straw people and granting powers of attorney for separately persecuted members of the group of perpetrators that separately persecuted accomplices acting as accountants or financial officers.”
In each legal transaction about the origin and the true nature of these assets, the constituents made false statements, namely by using the information provided by their own victims. Numerous payment service providers and vehicles were also used to process payments in different countries.
A list of these payment platforms and vehicles were appended in the indictment. It says, “Payvision BV, Niederlande, Global Payment Solutions d.0.0., Montenegro, Binex Group LP, Great Britain nien, Xtrabit sro, Czech Republic, B2B GmbH, Germany, Teleport I kt, Hungary, the L NG MET: L kft, Hungary, as well as other payment service providers based abroad made payments.”
Similar to most fraud schemes, the alleged stolen funds were transferred from one company to another until these could no longer be traced. In quote verbatim, the Indictment narrates it as:
“Companies of the Tradologic group such as liradologic Solutions Ltd., Seychelles, and liradologic Solutions Ltd., British Virgin Islands, for part in bulk transfers to from llan TZORYA and partly from Michael GOLOD and other secretly pursued accomplices and outwardly as operator companies of the respective “brands”, namely to the New Markets SA, Samoa, Gpay Ltd., Great Britain, Bright ldeas Ltd., Marshall Islands, the Dynamic Solutions Ltd., Marshall Islands, Rockarage Ltd., Marshall Islands, the Start Markets Ltd., Marshall Islands, Altair Entertainment NV, Netherlands (Curacao), Novox Capital Ltd., Cyprus, Capital Force Ltd., Samoa, Celestial Trading Ltd., Seychelles, Payific Ltd., Malta, Trimbalen sro, Catherine Ltd. and Hithcliff Ltd., Great Britain, as well transferred to other companies domiciled abroad, these funds then from there to other companies whose beneficial owners are predominantly llan TZORYA and other separately pursued accomplices were referred, namely to Global Media Partners Inc., British Virgin Islands, Seagulf Ltd., Marshall Islands, Global Media Partners Ltd., Seychelles, Winslet Enterprises Ltd., Bulgaria, and others abroad resident companies, where they usually use these transfers of bogus contracts or bogus invoices with incorrect names or service objects such as “Services Agreement”, “Agreement for Marketing Services”, “Consultancy Contract’, “Royalities”, “Marketing Service”, “Management Services” or similar cases and these funds are then ultimately transferred to Ilan TZORYA and other separately persecuted accomplices and thus into theirs Sphere transferred, namely to DTI Group Inc., Seychelles, Oldypak Capital LP, Great Britain, Super Dev EOOD, Bulgaria, Tradologic HK Ltd., Hong Kong, Global bal Fintech Solutions Ltd., British Virgin Islands, Lensing Management Services Ltd., British Virgin Islands, as well as to other companies attributable to them, whereby these payments as dividend distributions predominantly with incorrectly presented business cases camouflaged and they committed the act in relation to a value exceeding 50,000 euros.”
In summary, by transferring the funds to one company after another and manipulating the data by labeling the invoices incorrect names or service objects such as “Services Agreement”,
“Agreement for Marketing Services”, “Consultancy Contract’, “Royalities”, “Marketing Service”, “Management Services” or similar cases, the money becomes untraceable and is then successfully hidden by the constituents of the fraud scheme—Ilan Tzorya, Michael Golod, and Milena Kabadzhova—who has been putting their heads together.
As the indictment continues, there is more to the story that needs to be told. Stay tuned as FinLeaks continues to break down this complex scheme.
