How Ilan Tzorya Coordinated a Massive Fraud Scheme and Laundered Millions Without Arrest
Ilan Tzorya has been one of the most sophisticated cyber scammers with a sophisticated fraud network built within an elaborate fraud ecosystem comprising fake trading websites, binary options trading software, and several bank accounts— some held in trust, strawmen, and payment gateways.
From Tradologic company to Tradologic group, Ilan Tzorya controlled every process and activity within individual companies, which were very critical in laundering the money from the scam’s victims to their last mile use. Throughout the entire operations both at the E&G and broader Tradologic group’s ecosystems, Ilan Tzorya and his accomplices used multiple fraud-enabling ‘vehicles,’ including brands and shell companies across Europe and beyond.
As stated in Ilan Tzorya’s indictment at a Vienna court, llan Tzorya acted as the overall decision-maker for the Tradologic Group, Global Media Partners Group. He was also a shareholder and non-executive director of Veltyco Group PLC on the operation of the accused “brands” and the associated call center structures. However, Ilan Tzorya could accomplish much alone; he had a team of confidants, such as Milena Kabadzhova and Michael Golod, who helped him run the entire operations.
Milena Kabadzhova and Michael Golod had leadership positions in the Tradologic Group and the Global Media Partners group. The two criminals indicted alongside Ilan Tzorya were building the behind the “Brands” involved in the company network and worked through it significantly to the operation of the individual “brands” described in the indictment and the associated call center structures.
Milena was responsible for running the entire fraud business and changing Company structures several times. She was also responsible for providing various offshore companies, including the necessary bank details. Milena also recruited straw people as corporate bodies and members of the group of perpetrators, given extensive powers to have full access to the funds stolen from the victims.
Ilan Tzorya Controlled the Entire Fraud Operation Powered by Tradologic
Tradologic group is the major money laundering vehicle Tzorya used to receive nearly 1 billion euros from victims in Europe and abroad. Ilan Tzorya was initially a co-founder and managing co-owner of Tradologic Solutions Ltd., Seychelles, which originally held the licenses for the software it developed for manipulations and deceptive acts.
Even though he was the founder of Tradologic Solutions Ltd, Ilan Tzorya did not formally hold a position on the board but appeared again and again as ” CEO “of Tradologic Solutions Ltd., Seychelles, with Michael GOLOD being the operational manager from November 2015.
From April 13, 2017, Golod worked as a registered managing director in this company and had a Power of attorney. Golod also appeared as “CEO “of Tradologic Solutions Ltd., Seychelles, although he was not officially a member of the board of this company by that time. Milena Kabadzhova was the defacto “Coordination and Compliance Manager.”
llan TZORYA organized the new corporate structure of the Tradologic Group and commissioned Milena KABADZHOVA with the implementation. She organized the powers of attorney for the representations in the Tradologic group as Golod ran the day-to-day business activities of Tradologic. Michael GOLOD and Milena KABADZHOVA were bound by instructions from Ilan Tzorya, who made the final decisions about operational measures in the Tradologic Group.
Surprisingly, Ilan Tzorya, the sole mastermind and chief decision maker at Tradologic, and other top confidants such as Milena Kabadzhova and Michael Golod have never been arrested despite an indictment filed against them at a Vienna court in July 2021.