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Bulgarian court allows the extradition of Gal Barak to Austria

Dec 02 2019
By Jonathan Smith

After a successful operation of the police in Austria, Germany, the Czech Republic and Bulgaria has lead in February to the arrests of several financial executives, among which the Izraeli citizen Gal Barak, who is charged of orchestrating an online trading scam, that allegedly has defrauded European investors of over 100 million Euro, now a Bulgarian court has given the green light for Barak to be extradited to Austria, reports Faktor.bg, a Sofia based online portal.

The Austrian authorities have several charges against Barak, among which a case of massive fraud, money laundering and participation in an organized crime group.

According to the court files Barak operated a number of fake online forex, crypto and binary options brokers, among which XtraderFX, Optionstars, OptionstarsGlobal, Golden Markets, SafeMarkets, Cryptopoint, 60op.com, Optionbit and option888, that have accumulated no less than 66 million Euro from investors across Europe alone, of which 11 million Euro from retail investors in Germany and Austria.

The name of Gal Barak is also associated with Gery Shalon, another Israeli and Vladislav Smirnov, a Russian, who were in charge of an international cybercrime organization. Back in 2015 the authorities in the USA have filed an indictment against Gery Shalon.

Currently Barak is detained in Sofia and awaits his extradition.

TAGS: Gal Barak extradition Austria forex scam

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