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Important Victims Information – Veltyco Group Annual General Meeting scheduled for Sept 19, 2019

Last updated on September 9, 2019

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This Annual General Meeting (AGM) is a very important date for all shareholders of Veltyco but also for the victims of the many scams of its founder and major shareholder Uwe Lenhoff. The latter has operated the large binary options and broker scams Option888, TradoVest or XMarkets as well as the lottery betting site LottoPalace via the Veltyco.

Most of the Lenhoff scams are directly related to Veltyco which was responsible for the marketing of these schemes, i.e. for acquiring new client-victims. Lenhoff was arrested earlier this year on suspicion of financial crime, money laundering, and investment fraud. He is currently awaiting prosecution in custody.

The Annual General Meeting will take place on 19 September 2019 at the office of Estera Trust (Isle of Man) Ltd,33-37 Athol Street, Douglas, Isle of Man IM1 1LB.

Despite the arrest of Veltyco founder Uwe Lenhoff and the exposed scams around Veltyco, this vital issue for the company and its shareholders is not addressed at the AGM. This is not what one would expect from a properly acting board.

Veltyco AGM 2019 proposed resolution
Proposed Resolutions for Veltyco AGM 2019 (Source: Veltyco Website)

Interesting and conspicuous on the other hand are that

  • the partner of Uwe Lenhoff, the Dutchman Marcel Noordeloos, wants to be re-elected again as director. Noordeloos is involved in numerous activities of Uwe Lenhoff, which are the subject of official investigations and the pending indictment;
  • the subject of the Veltyco subsidiary Velmont Podgorica DOO is not addressed, although Veltyco may be confronted with substantial financial claims from this side. This was confirmed at least by FinTelegram by a law firm in Belgrade dealing with this matter;
  • the financial burdens and obligations with the companies and scams of Lenhoff are not addressed at all, neither are the false balance sheets of the last two years, and, therefore, no relief is sought, and, finally,
  • the situation with Veltyco Bulgaria EOOD and Lenhoff’s Winslet Enterprises EOOD (Bulgaria) is also not addressed. Also from this Bulgarian front may arise significant claims against Veltyco, lawyers confirmed to FinTelegram.
Marcel Noordeloos approved set-up of Veltyco subsidiary Velmung in Montenegro
Veltyco director Marcel Noordeloos approved and signed Veltyco subsidiary in Montenegro

The concealment of these sensitive but important issues by the board of Veltyco speaks for itself.

FinTelegram, together with EFRI and its Veltyco fund recovery campaign, will make an appeal in the next few days to Veltyco shareholders and creditors as well as to victims of the scams associated with the company. The AGM is certainly the appropriate forum to ask critical questions to the board members.

FinTelegram has already contacted a number of Veltyco shareholders and urged them to attend the AGM and put their concerns on record.

One Comment

  1. Raymond mclaren Raymond mclaren September 24, 2019

    I paid in €450,000 to UPC from March to Oct 2018 . My life savings and money from house sale. They werevtrading € against USD. The information on screen was a near 40% profit on my investmentin 19 months!
    UNTIL
    I contacted Bealgo to STOP trading as I had a massive profit and wanted to close acnt.
    NO REPLY….?
    Thats when suddenly in 2 – 3 weeks green …..turned RED
    14 attempts to close.
    NO REPLY then €900,000 inc profit Green +
    became €2,700 – Red
    They emaled me acount now closed.
    Since then they call and ask me to put €100k in to get money back……..
    Raymond mclaren. With Elfrida S

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