#isignthis #valoris #binaryoptions so I was right about this #dominicmelo has removed all reference to valoris. But I haven’t. And I’m betting that isignthis won’t be reinstated to the @asx anytime soon. https://twitter.com/intel_jakal/status/1095342266527281152

#probanx #isignthis #deepdive When I first came across Dominic Melo aka the self coined mr payments he wassoap boxing on angel list that he built #valoris payment system from ground up. I wasnt aware that he was involved in @asx listed but suspended #isignthis

#isignthis have been copping alot of heat for accidently mistating earnings but also where those earnings are coming from. https://www.smh.com.au/business/markets/israel-targets-masterminds-behind-controversial-isignthis-clients-20191031-p53625.html

this is the first of what might become quite a few tweetstorms. The following link to a mudmap of Mr Mello's dealings with #ett and #valoris http://bit.ly/2Qv1cNf 

I guess its worth acknowleding that Isignthis/probanx are aiming at the low end of the banking market so I guess you'd expect it to be a little grubby but the calibre of companies they are providng services appear underwhelming ....more on that later.

Ive identified about 20 of #probanx customers some past and present while I haven't reviewed them all in detail most appear to have an interesting story to tell. #isignthis is currently taking legal action against the @asx for suspending the company from trading.

Time permitting ill endevour to post a few tidbits on one of their ahem 'banking clients' every couple of days. One of #probanx first clients was #transactbank aka Latvian payment services provider SIA Transact Pro. On face value they appear to be a bonefide payment processor.

But a quick search shows they are in the crosshairs of the FTC as part of their case against Apex Capital Group here's copy of the filing >>>> http://bit.ly/2FGOgxI 

The case against Apex was settled in Sep 2019 http://bit.ly/39ZClsB  with some hefty fines

The case against #probanx client #transactpro is ongoing.

Just as #dominicmelo has scrubbed his history with #valoris Probanx no longer promotes #transactpro as a client.

Here's todays coverage of #probanx clients. Cayman National hacked and client details stolen.

#probanx take 2. An avalanche coming #isignthis you really should have done #duediligence and might want to rethink taking action against the @asx

#isignthis ASX announcement #probanx acquisition "services more than 15 prudently regulated entities".......wow who wrote this clanger.

#fruxprivatebank

So where do you reckon #fruxprivatebank is prudently regulated? #gambia of course. But they also seek to follow the Swiss self regulatory code ... really please who writes this stuff.

#fruxprivatebank services are pretty unique. Ive never heard of a group willing to structure trusts and companies in #chad.

But lets go back to Gambia and have a look at their offshore banking sector. #spoileralert . when @occrp write up a 10 page article its generally not going to go well for you especially when your an @asx listed public company thats acquired the main actor central to the story.

btw I'm pretty certain I may be the first to piece this together.
First heres article one;
https://www.occrp.org/en/29leaks/fancy-gambian-paper
and article two
https://www.occrp.org/en/29leaks/phantom-firms-haunt-gambia
h/t to @OCCRP

So back to #fruxprivatebank remember how its "prudently regulated" in #gambia. Well it isn't and never has been.
Gambian banking licenses were just a big pile of puss that came out of the infamous Harley st paper factory.

The story only gets better from here #marvinpayments aka #marvinbank

Of course #isignthis could say hey the client is #marvinpayments NOT #marvinbank . First when regulators post warnings on the clients of your acquisition it should be a red flag

Second when all the domains are registerd in your subsidiary name and the contact is your executive its kinda hard to duck and dive

Its kinda endless

@threadreaderapp unroll