Ilan Tzorya Fraud Enabling Software: Ilan Tzorya Developed the Tradologic’s Software for Criminal Ventures
Ilan Tzorya is one of the most controversial international fraudsters who have perhaps gotten away with sickening financial crimes. Despite being thoroughly investigated and establishing he was the owner of the Tradologic Software—an effective tool in the hands of scammers, the Israeli-born self-made cryptobillionaire still enjoys his freedom broadly as his juniors face arrests, jail terms and their bank accounts frozen.
According to the investigation report, Ilan Tzorya was personally involved in creating the fraud-enabling Software.
llan TZORYA was involved in both the development of the Software and the further development of individual software components and also performed system tests of individual brand pages. Tzorya also exercised essential functions in the companies (Global Creative Solutions Ltd. and Tradologic BG EOOD).
From September 20, 2013, he was the registered managing director of Global Creative Solutions Ltd., which later became the Super Dev EOOD with the further development of the Software commissioned, with the trading software being the sole property of Ilan TZORYA and their managing directors among others Michael Golod and Milena Kabadzhova.
Ilan Tzorya is still the owner of the developed software “Tradologic” and later “Finotech,” a software development and consulting company working on advanced FinTech projects involving Blockchain, Payment Gateways, Ultra Low Latency Feeds, and more.
Being involved in the further development of the Software, Golod made critical decisions. He was initially active in Global Creative Solutions Ltd. Before becoming the CEO of Super Dev EOOD. In late 2015, Golod helped Tzorya fix the Software’s development goals. At that time, Tzorya and Golod worked to develop software tools for call centers with manipulation risk management features.
Tzorya Had Unrestricted Access to the Software, Brands, and Databases
With most user rights, Ilan Tzorya and his accomplices had exclusive access to the entire system, monitored the brands’ operations, and provided critical technical support to the fraudulent brands that reportedly scammed their victims of millions through deceptive trading platforms.
The Tradologic Group carried out its businesses through the respective operating company, either the Tradologic Solutions Ltd., Seychelles, Tradologic Solutions Ltd., BVI, or most recently, Global Investment Association AG, Liechtenstein, one with every brand operator License agreement.
The license agreements were made by llan Tzorya or other assigned persons in the Tradologic Group. The licensees were usually signed by the registered directors of the operating companies, who were straw men or other authorized persons.
Ilan Tzorya recruited new customers and also initiated the “business relationship” of Tradologic Group with Uwe Lenhoff and concluded license agreements with the “fire” operators. So he was responsible for the deal flow in the entire Tradologic Group. Tzorya also took over Brack’s and Lenhoff’s businesses after snitching them to the police for running the businesses that Tzorya himself had overwhelming shares in.
Tzorya’s right hand, Michael Golod, was responsible for the day-to-day business of the Tradologic Group and regularly reported to his Employees to support the brand operator with problems with the Software. Ilan Tzorya and his accomplices also signed license agreements with the fire operators and negotiated with them about the Calculation and the amount of the license fee they would pay.
llan TZORYA also organized special companies together with Michael GOLOD, who was also (at least partly) involved in obtaining licenses in Cyprus, Bulgaria, and other Countries that are subsequently made available to the fire operators for a fee.
Such licenses were only used to create a bill to maintain serious business activity. Since the “customers” are usually option transactions or generally accepting funds for deposit or asset management were offered, would be – with a view to the Austrian “customers” or victims – one License according to the Austrian Banking Act (BWG) was necessary, which the companies under the Tradologic group didn’t have, leading to warnings by the Austrian Financial Market Authority to the platform.
Read our next article for more on how Ilan Tzorya made hundred of millions euros from victims using the so-called”Risk tool.”