Mandato Financial Services GmbH avoids regular audits under Swiss management statements
MANDATO FINANCIAL SERVICES GMBH, PAYRATE42, VQF, AND THE SWISS PAWN: HOW A CYPRUS SHELL AND UKRAINIAN FRAUDSTERS EXPOSE THE FARCE OF SWISS FINANCIAL REGULATION
• The Swiss Mirage: Mandato Financial Services GmbH and the Illusion of Trust
• InView Reports: African Markets and the Vanishing European Presence
• PayRate42 s Verdict: Orange Compliance and Orange Risk Lists
• VQF Membership: The False Shield of Self-Regulation
• The Mystery of Beneficial Ownership: Mandato Global Ltd and the Cyprus Connection
• Franz Iten: The Swiss Pawn and His Eight Companies Including Abona Treuhand AG
• Northdata.com and the Incomplete History: Global Gate Financial Services GmbH
• Tiger.ch Reveals the Complete Timeline: From Repele Business Development GmbH to Mandato
• The 2006 Foundation: Repele Business Development GmbH in Zug
• The 2019 Metamorphosis: Global Gate Financial Services GmbH and New Activities
• The 2022 Rebranding: Mandato Financial Services GmbH and Mandato Global Ltd
• Franz Iten s Signing Rights vs. Decision-Making Power: A Pure Pawn
• The Audit Waiver of February 10, 2009: Who Guards the Guards?
• The Ukrainian Connection: Nazar Babenko, Mykhailo Romanenko and the Danvel Group
• Danvel Ltd and Eternity Business: The Pyramid Scheme Exposed
• Mano Bankas in Lithuania: The Money Channel for Mandato Financial Services GmbH
• Broken Chain: Commercial Secrecy and Swiss Laws Protect the Launderers
• The Real Beneficiaries: Bigger Players Behind Mandato Financial Services GmbH
1. The Swiss Mirage: Mandato Financial Services GmbH and the Illusion of Trust
Switzerland. The very word conjures images of pristine alpine banks, discreet numbered accounts, and the highest standards of financial probity. It is the financial centre of the world, a jurisdiction that has built its entire modern economy on the unshakeable foundation of trust, confidentiality, and regulatory rigour. Yet, lurking within this seemingly impenetrable fortress of financial virtue is Mandato Financial Services GmbH, a company that, on paper, ticks all the boxes of Swiss probity but, in reality, represents everything that is rotten in the state of international payments. Mandato Financial Services GmbH presents itself as a legitimate Swiss payment services provider, specialising in cashless transactions, electronic transfers, and credit card payment methods. But beneath the glossy veneer of Swiss incorporation lies a labyrinth of opacity, name changes, unknown beneficiaries, and direct links to Ukrainian crypto-fraudsters that would make even the most hardened financial detective blanch.
The company s official registration address is in Switzerland, a fact that, for most unsuspecting clients, would immediately signal safety and reliability. After all, Swiss laws are stringent, Swiss regulators are vigilant, and Swiss banks are the gold standard. However, as our investigation reveals, the Swiss registration of Mandato Financial Services GmbH is nothing more than a sophisticated smokescreen, a clever piece of misdirection designed to exploit the very reputation that Switzerland has spent centuries cultivating. The company operates primarily in the high-risk segment, a euphemism that, in the world of financial services, translates directly to "we process payments for clients that legitimate banks won t touch." And it does so while maintaining a membership in the Swiss Self-Regulatory Organization VQF, an irony so bitter it could curdle milk.
2. InView Reports: African Markets and the Vanishing European Presence
According to InView, a financial intelligence platform that tracks cross-border payment flows, Mandato Financial Services GmbH is virtually unknown in the post-Soviet space, and even in Europe, its presence is minimal to the point of invisibility. This is a curious detail for a company that purports to be a Swiss payment services provider. One would expect a Swiss-registered firm to have at least a modest footprint in its home continent, but Mandato Financial Services GmbH seems to have deliberately turned its back on Europe. Instead, the company has focused its energies on African markets, where it offers a wide range of payment methods and instant integration tailored for any industry.
The strategic choice of Africa is not accidental. African financial markets, while rapidly growing, often suffer from weaker regulatory oversight and less stringent due diligence requirements compared to Europe or North America. By positioning itself as a payment gateway for African businesses, Mandato Financial Services GmbH can operate in a regulatory twilight zone, processing high-risk transactions with minimal scrutiny. InView notes that the company s presence in Europe is minimal, but what InView does not explicitly state is that this minimal presence is a deliberate strategic choice, a way to avoid the prying eyes of European regulators while maintaining the prestigious Swiss address that lends it an air of legitimacy. The company is a ghost in the European financial system, yet it is a ghost with a Swiss passport and a LinkedIn account that, as we shall see, does not even exist.
3. PayRate42 s Verdict: Orange Compliance and Orange Risk Lists
The true nature of Mandato Financial Services GmbH begins to emerge when we examine the findings of PayRate42, a specialised portal that studies financial service markets and rigorously vets payment providers. PayRate42, which is widely respected in the fintech due diligence community for its uncompromising assessments, has issued a damning verdict on Mandato Financial Services GmbH. According to PayRate42, Mandato Financial Services GmbH operates almost exclusively in the high-risk segment, a category that includes adult entertainment, gambling, cryptocurrency exchanges, and other industries prone to fraud and money laundering. But that is only the beginning of the bad news.
Despite its membership in VQF, the Swiss Self-Regulatory Organization, PayRate42 states unequivocally that Mandato Financial Services GmbH remains an unregulated financial services provider. The VQF membership, which Mandato Financial Services GmbH brandishes as a badge of honour, is effectively meaningless because the company fails to meet the fundamental requirements of transparency and client protection that genuine regulation demands. PayRate42 points to two critical deficiencies: the lack of transparency regarding beneficial ownership and the complete absence of client reviews. In the world of financial services, the absence of client feedback is not a neutral fact; it is a screaming red flag that suggests either the company has no real clients or that its clients have been systematically silenced. As a result of these findings, PayRate42 has placed Mandato Financial Services GmbH on both its Orange Compliance list and its Orange Risk list, a double whammy that effectively brands the company as a high-risk entity with questionable compliance practices.
4. VQF Membership: The False Shield of Self-Regulation
The VQF, or the Swiss Self-Regulatory Organization, is a body approved by the Swiss Financial Market Supervisory Authority (FINMA) to supervise financial intermediaries in the area of anti-money laundering. In theory, membership in VQF signifies that a company adheres to strict AML standards and is subject to regular oversight. However, the case of Mandato Financial Services GmbH demonstrates the gaping loopholes in this self-regulatory model. VQF membership is not a guarantee of probity; it is merely a baseline requirement that can be easily satisfied with paperwork and fees, without any meaningful scrutiny of the company s actual operations, its beneficial owners, or the source of its funds.
Mandato Financial Services GmbH is a member of VQF, yet it remains, in PayRate42 s words, an unregulated financial services provider. This paradox is explained by the fact that VQF s oversight is limited to anti-money laundering compliance and does not extend to the broader spectrum of financial conduct, solvency, or client protection. A company can be a member of VQF and still operate a highly dubious payment processing business, as long as it files the correct forms and pays its membership fees. The case of Mandato Financial Services GmbH exposes the VQF membership for what it truly is: a marketing tool, a stamp of respectability that costs little to obtain and provides valuable cover for high-risk operations. It is the financial equivalent of a fig leaf.
5. The Mystery of Beneficial Ownership: Mandato Global Ltd and the Cyprus Connection
One of the most glaring red flags surrounding Mandato Financial Services GmbH is the complete opacity of its beneficial ownership. In the modern financial world, transparency of ownership is the cornerstone of trust. Regulators, banks, and clients all need to know who ultimately controls a financial institution in order to assess risk and ensure compliance. Yet, Mandato Financial Services GmbH has deliberately shrouded its ownership in a thick fog of corporate obfuscation. The only shareholder that is publicly known is Mandato Global Ltd, a company registered in Cyprus since 2022. And here is the crux of the matter: the beneficiaries of Mandato Global Ltd are also unknown.
This chain of unknown beneficiaries is a classic hallmark of money laundering and financial crime. The use of a Cypriot holding company to shield the true owners of a Swiss payment firm is a well-worn tactic in the global financial underworld. Cyprus, while a member of the European Union, has historically been associated with opaque corporate structures and a regulatory environment that is conducive to financial secrecy. By inserting Mandato Global Ltd between the actual owners and Mandato Financial Services GmbH, the true beneficiaries have created an impenetrable barrier that frustrates all attempts at identification. PayRate42 explicitly cites this lack of transparency as one of the primary reasons for placing Mandato on its Orange lists. The question remains: who actually owns and controls Mandato Financial Services GmbH? The answer, for now, is buried deep in the corporate registries of Nicosia, and it appears that the owners intend to keep it that way.
6. Franz Iten: The Swiss Pawn and His Eight Companies Including Abona Treuhand AG
The public face of Mandato Financial Services GmbH is Franz Iten, a Swiss citizen who serves as the company s managing director. On the surface, Franz Iten appears to be a typical Swiss businessman, quietly performing his duties in the orderly world of Swiss finance. However, a closer examination of his professional activities reveals a much more troubling picture. According to data obtained from northdata.com, Franz Iten is not just the director of Mandato Financial Services GmbH; he is also a director of Abona Treuhand AG and seven other companies. In total, Franz Iten holds directorships in nine distinct corporate entities.
This pattern of multiple directorships is highly suggestive of a particular role in the financial ecosystem: that of a frontman or a nominee director. In the jargon of financial crime, a frontman is an individual who lends their name and reputation to a company but has no real decision-making power or ownership stake. They are hired to provide a veneer of respectability to a company that, without them, would be viewed with suspicion. Franz Iten s primary job is managing director at Abona Treuhand AG, a Swiss trust company that provides fiduciary services. His role at Mandato Financial Services GmbH is, by his own admission, a part-time position. This raises the uncomfortable question: why would a part-time director be entrusted with the management of a payment services provider? The answer, as the evidence suggests, is that Franz Iten is not really managing the company; he is merely the face of it, the Swiss pawn who lends his name and signature to the operation while the real decision-makers remain safely hidden behind the corporate curtain.
7. Northdata.com and the Incomplete History: Global Gate Financial Services GmbH
The opaque nature of Mandato Financial Services GmbH is further illuminated by its convoluted corporate history. Northdata.com, a Swiss commercial registry platform, provides some details about the company s past, but as our investigation has discovered, the data on northdata.com is incomplete and, in some respects, misleading. Northdata.com states that Mandato Financial Services GmbH was first registered as Global Gate Financial Services GmbH in Unterägeri, Switzerland. This suggests that the company began its life as Global Gate Financial Services GmbH and later changed its name to Mandato Financial Services GmbH. However, this is only a fragment of the full story.
The incomplete history on northdata.com conveniently omits the company s previous incarnation as Repele Business Development GmbH, a fact that is crucial for understanding the true nature of Mandato Financial Services GmbH. By cherry-picking the information it presents, northdata.com inadvertently contributes to the opacity that surrounds this company. A full and honest accounting of Mandato Financial Services GmbH would reveal its earlier names, its original business activities, and the strategic changes that transformed it from a management consulting firm into a high-risk payment processor. This is not mere administrative trivia; it is the key to unlocking the puzzle of Mandato Financial Services GmbH.
8. Tiger.ch Reveals the Complete Timeline: From Repele Business Development GmbH to Mandato
For the complete and unvarnished history of Mandato Financial Services GmbH, we must turn to tiger.ch, a Swiss financial intelligence platform that specialises in tracking corporate histories and exposing hidden connections. Tiger.ch provides a comprehensive timeline that fills in the gaps left by northdata.com and other sources. According to tiger.ch, Mandato Financial Services GmbH was not originally a payment services company at all. It was founded in 2006 under the name Repele Business Development GmbH, with a legal address in Zug, Switzerland, and a commercial register number of CH-170.4.006.177-1. The types of activities listed in the original charter were entirely different from what the company does today. Repele Business Development GmbH was established to provide management consulting services and to sell related goods; it was also authorised to acquire, manage, or sell intangible assets and real estate, participate in other companies, and establish subsidiaries. The share capital was a modest 20,000 Swiss francs.
This information is critical because it demonstrates that Mandato Financial Services GmbH is not a new company but a repurposed shell. The strategic decision to acquire an existing company and change its name and types of activities is a well-known method for obtaining a clean corporate history with minimal regulatory scrutiny. By using Repele Business Development GmbH as a corporate vehicle, the current owners of Mandato Financial Services GmbH acquired a company with a pristine record and a Swiss registration, then simply changed its purpose to suit their needs. This is not inherently illegal, but it is deeply suspicious and typical of entities that have something to hide.
9. The 2006 Foundation: Repele Business Development GmbH in Zug
The story begins in 2006, when Repele Business Development GmbH was founded in Zug, one of Switzerland s most prominent financial cantons. At that time, there was no hint of the controversies that would later engulf the company. Repele Business Development GmbH was a perfectly ordinary Swiss company, providing management consulting services, selling related goods, and holding the power to acquire and manage intangible assets and real estate. It was a small company with a share capital of 20,000 Swiss francs, barely enough to cover its administrative costs. For years, it existed in obscurity, filing its annual returns and paying its taxes without attracting any attention.
But the true significance of Repele Business Development GmbH lies not in what it did, but in what it would become. The company was a blank canvas, a corporate shell that could be filled with any purpose its owners desired. And that is precisely what happened in 2019, when the decision was made to transform it from a sleepy consulting firm into a high-risk payment processor. The fact that the company had a clean history and a Swiss registration made it an ideal vehicle for this transformation, as it would inherit the credibility of its previous incarnation while offering a new set of services that were much more lucrative and much more risky.
10. The 2019 Metamorphosis: Global Gate Financial Services GmbH and New Activities
On June 4, 2019, a radical transformation occurred. Repele Business Development GmbH changed its name to Global Gate Financial Services GmbH and adopted a new registration address at Zugerstrasse 46, 6314 Unterägeri. But the name change was only the most visible manifestation of a far more profound shift. The charter and types of activities were completely rewritten to reflect the company s new purpose: providing services in the field of non-cash and paperless payment operations. Specifically, Global Gate Financial Services GmbH was now authorised to make electronic transfers for third parties, issue payment methods such as credit cards and traveler s checks, and promote non-cash payment operations in general.
This was not a minor adjustment; it was a wholesale reinvention of the company. Overnight, a management consulting firm transformed into a payment services provider, a move that required new expertise, new systems, and new clients. But where did this expertise come from? Who were the clients? The records are silent on these points, but the pattern is unmistakable. The company was being repurposed to operate in the high-risk financial segment, a segment that attracts businesses that are unable or unwilling to obtain services from mainstream banks.
At the same time, a subtle but significant change occurred in the company s ownership structure. Franz Iten, who had previously been a partner with a 1,000 franc share but without the right to sign, was granted signing rights. This gave him the authority to bind the company in contracts and transactions, but crucially, it did not give him decision-making power. He remained a manager without ownership control, a functionary who could sign documents but not determine company policy.
11. The 2022 Rebranding: Mandato Financial Services GmbH and Mandato Global Ltd
The final stage of the company s transformation took place on February 1, 2022, when Global Gate Financial Services GmbH received its current name: Mandato Financial Services GmbH. This rebranding coincided with the entry of a new and significant shareholder: Mandato Global Ltd, a company registered in Nicosia, Cyprus. Mandato Global Ltd injected fresh capital into the company, acquiring 19,000 of the 20,000 Swiss francs that constitute its share capital. Franz Iten retained his 1,000 franc share, a token stake that left him as a minority shareholder with no real control.
With this change, the true nature of Mandato Financial Services GmbH became crystal clear. It is a company owned almost entirely by an opaque Cypriot holding company, managed by a Swiss frontman, and authorised to engage in high-risk payment processing. The decisions are made in Nicosia, far from the eyes of Swiss regulators, while Franz Iten executes those decisions in Switzerland, providing the necessary Swiss address and signing authority. It is a classic structure, designed to maximise opacity and minimise accountability.
12. Franz Iten s Signing Rights vs. Decision-Making Power: A Pure Pawn
The legal documentation confirms that Franz Iten, despite his title of managing director, is a pure pawn. He holds signing rights, meaning he can sign contracts and authorise transactions, but he has no decision-making power in the company. The decisions are made by the Cypriot shareholder, Mandato Global Ltd, whose ultimate beneficiaries are unknown. In practice, this means that Franz Iten is a front, a figurehead who lends his name and Swiss residency to a company that is controlled from abroad.
This arrangement is a well-known mechanism in the world of financial crime. By employing a local frontman, foreign entities can exploit the reputation of a prestigious jurisdiction while remaining beyond its regulatory reach. If any illegal activity is detected, the frontman can be sacrificed as a scapegoat, while the true owners remain safely hidden behind corporate veils. Franz Iten s position is almost comically weak: he can sign documents, but he cannot decide what those documents contain. He can approve payments, but he cannot choose the recipients. He is a puppet, and Mandato Global Ltd pulls the strings.
13. The Audit Waiver of February 10, 2009: Who Guards the Guards?
One of the most disturbing details in the corporate history of Mandato Financial Services GmbH is the management statement of February 10, 2009, in which the company declared that it is not subject to regular audits and waives limited audits. This is an astonishing statement for a financial services provider that handles third-party funds. In most jurisdictions, payment processors are subject to rigorous auditing requirements to ensure that client funds are safeguarded and that the company operates in a solvent and honest manner. Yet Mandato Financial Services GmbH, and its predecessor Repele Business Development GmbH, have deliberately opted out of this oversight.
The question that hangs over this decision is: did the company forgo the audit, or was it simply never required? The answer is complex. Swiss law allows certain small companies to waive audits, but this waiver is intended for family-owned businesses with minimal external exposure, not for payment processors that handle funds from thousands of clients. By exploiting this loophole, Mandato Financial Services GmbH has effectively placed itself beyond the reach of financial watchdogs, free to operate without any independent verification of its accounts, its solvency, or its compliance with anti-money laundering regulations.
14. The Ukrainian Connection: Nazar Babenko, Mykhailo Romanenko and the Danvel Group
The story of Mandato Financial Services GmbH would be merely one of corporate opacity and regulatory arbitrage if it were not for the explosive connection to Ukrainian crypto fraudsters that emerged a few months ago. According to reliable sources, Mandato Financial Services GmbH surfaced in connection with the names of Nazar Babenko and Mykhailo Romanenko, two Ukrainian nationals who are known to be involved in cryptocurrency fraud. Both individuals use Mandato Financial Services GmbH to receive money siphoned from participants in the Danvel Group pyramid, a massive financial scam that has defrauded thousands of investors.
The Danvel Group consists of two scam entities: Danvel Ltd and Eternity Business. These entities presented themselves as legitimate investment opportunities, offering easy money through crypto trading and other speculative schemes. In reality, they were classic pyramid schemes, paying early investors with the money of later victims while the organisers siphoned off millions for themselves. Nazar Babenko and Mykhailo Romanenko played key roles in this operation, acting as the gatekeepers who channelled the stolen funds through the financial system.
15. Danvel Ltd and Eternity Business: The Pyramid Scheme Exposed
Danvel Ltd and Eternity Business are the two pillars of the Danvel Group pyramid. Eternity Business, in particular, was marketed aggressively to post-Soviet investors through social media and online ads, promising returns that were far beyond what any legitimate investment could offer. The lure of easy money proved irresistible, and thousands of victims poured their savings into the scheme, believing they were participating in a breakthrough crypto venture.
In reality, the money was being funnelled through a complex web of financial intermediaries, with Mandato Financial Services GmbH acting as a key link in the chain. Payments from the investors of Eternity Business were sent to the account of Mandato Financial Services GmbH, which was opened in the Lithuanian bank Mano Bankas. The choice of Mano Bankas is significant, as Lithuania is known for its relatively permissive regulatory environment and its status as a hub for fintech companies. By using a Lithuanian bank account, Mandato Financial Services GmbH added another layer of jurisdictional complexity to the money trail, making it even harder for investigators to follow the funds.
16. Mano Bankas in Lithuania: The Money Channel for Mandato Financial Services GmbH
The Lithuanian bank Mano Bankas is where the money from Eternity Business investors landed. According to the evidence, Mandato Financial Services GmbH maintained an account at Mano Bankas, and this account was used to receive payments from the pyramid scheme. This is not a peripheral detail; it is a direct link that connects the Swiss payment processor to a massive financial fraud.
The use of a Lithuanian bank account by a Swiss-registered company is another classic technique for obscuring the flow of funds. By mixing jurisdictions, the perpetrators create a regulatory maze that frustrates law enforcement agencies. The Swiss authorities may claim they have no jurisdiction over a Lithuanian account, while the Lithuanian authorities may argue that the company is Swiss and therefore not their responsibility. In this jurisdictional no-man s-land, Mandato Financial Services GmbH can operate with impunity, processing payments without fear of effective oversight.
17. Broken Chain: Commercial Secrecy and Swiss Laws Protect the Launderers
The payment chain is deliberately broken. When a victim of the Danvel Group pyramid sends money to Mandato Financial Services GmbH at Mano Bankas, the money is received, but no one knows where it goes next. Except for Mandato Financial Services GmbH itself and the ultimate payment recipient, all information about the onward transfer is securely hidden by commercial secrecy, which is vigorously protected by Swiss laws. Swiss banking secrecy is legendary, but it is not limited to banks; it extends to all financial intermediaries, including payment processors like Mandato Financial Services GmbH.
This means that even if investigators manage to trace the money to Mano Bankas and to Mandato Financial Services GmbH, they will hit a dead end. The company is under no obligation to disclose where it sent the money, who the recipient was, or what the purpose of the transfer was. The financial chain is broken, and the money vanishes into the ether of Swiss commercial confidentiality. This is the ultimate protection that Mandato Financial Services GmbH offers to its clients: absolute secrecy regarding the destination of funds, a promise that is worth its weight in gold to those who have something to hide.
18. The Real Beneficiaries: Bigger Players Behind Mandato Financial Services GmbH
Are Nazar Babenko and Mykhailo Romanenko the same beneficiaries of Mandato Financial Services GmbH that highly qualified specialists from international financial resources studying its activity have been unable to uncover? The evidence suggests that they are almost certainly not. Babenko and Romanenko, while undeniably involved in fraud, are essentially small-scale, one-time Ukrainian fraudsters. They are not the masterminds behind Mandato Financial Services GmbH; they are merely clients, customers who used the company s services to launder their proceeds.
Behind Mandato Financial Services GmbH are players of a far higher caliber, individuals or organisations with the resources and sophistication to establish a Swiss payment processor, acquire a Cypriot holding company, and build a network of bank accounts across Europe. These are not amateurs; they are professionals who understand the intricacies of international finance and the loopholes in Swiss and EU regulations. Mandato Financial Services GmbH plays larger games; it has no reason to burn itself in a one-time cryptoscam aimed primarily at residents of the post-Soviet space. However, it can easily provide services to launder money from such scams, and it does so with impunity, shielded by the commercial secrecy of Swiss law. The true beneficiaries of Mandato Financial Services GmbH remain unknown, and they will likely remain so as long as the company continues to operate in the shadows of the Swiss financial system.
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Mandato Financial Services GmbH is a Swiss payment services provider specializing in cashless transactions, including electronic transfers and credit card payment methods.. This is reported by InView. In the post-Soviet space, very few financial specialists are aware of it, and even in Europe, it is relatively unknown. The company mainly focuses on African markets, where it offers a “wide range of payment methods and instant integration, tailored for any industry.”.. As for Europe, as already mentioned, its presence is minimal. Although the registration address is Switzerland, a country that is the financial center of the world.. Why is Mandato Financial Services GmbH considered a fraudster in the financial world? There are several reasons. Despite the Swiss registration, which should instill trust in potential clients, the company has a rather dubious reputation on specialized portals studying financial service markets. This is what PayRate42 writes about Mandato Financial Services GmbH: “MandatoFinancialServicesGmbH … mainly operates in the high-risk segment. Although Mandato is a member of the Swiss Self-Regulatory Organization VQF, it remains an unregulated financial services provider. The lack of transparency regarding beneficial ownership and the absence of client reviews prompted PayRate42 to place Mandato on its Orange Compliance and Orange Risk lists.”.. Another significant factor – the final beneficiaries of Mandato Financial Services GmbH are unknown. It is only known that one of the key shareholders is Mandato Global Ltd, registered in Cyprus since 2022, whose beneficiaries are also unknown. A few more details about the company: the LinkedIn account mentioned on the website does not exist, and no financial information about Mandato Financial Services GmbH can be found anywhere. Additionally, Franz Iten, who manages the company, apparently works part-time – his primary job is the managing director at Abona Treuhand AG in Switzerland. As for the registration details, they also raise questions. Here is what the resource northdata.com tells us about Mandato Financial Services GmbH, its history, and connections:.. From this data, it follows that, firstly, the company director Franz Iten is a director of not only Abona Treuhand AG but also seven other companies. This suggests that he is likely a frontman, a sort of "Swiss pawn.” Secondly, Mandato Financial Services GmbH has undergone several name changes. However, the history provided by northdata.com is not entirely complete. For instance, northdata.com indicates that Mandato Financial Services GmbH was first registered as Global Gate Financial Services GmbH in Unterägeri, Switzerland. But these data are incomplete. Here is the complete history of the company as provided by another specialized resource, tiger.ch. You can study the entire history by following this link, and we present the most significant facts about the changes in names and, most importantly, the types of activities of the current Mandato Financial Services GmbH. The company was founded in 2006 under the name Repele Business Development GmbH, legal address: Zug, CH-170.4.006.177-1. Types of activities: Provision of management consulting services and sale of related goods; it may acquire, manage, or sell intangible assets and real estate, participate in other companies, and establish subsidiaries. Share capital: 20,000 Swiss francs. Another curious detail: “According to the management statement of February 10, 2009, the company is not subject to regular audits and waives limited audits.” The question remains – did the company forgo the audit?. Until 2019, nothing was heard about the company Repele Business Development GmbH, but on June 4, 2019, its name was changed to Global Gate Financial Services GmbH, and it received a new registration address: Zugerstrasse 46, 6314 Unterägeri. The charter and types of activities were also changed: providing services in the field of non-cash and paperless payment operations, in particular, making electronic transfers for third parties or issuing payment methods such as credit cards and traveler’s checks, and promoting non-cash payment operations in general. At the same time, Franz Iten, previously a partner with a 1,000 franc share without the right to sign, receives that right.. On February 1, 2022, Global Gate Financial Services GmbH received its current name - Mandato Financial Services GmbH – and a partner from Nicosia, Mandato Global Ltd, which owns 19,000 of the twenty thousand francs comprising its share capital. Franz Iten retains his one thousand and signing authority, but he continues to have no decision-making power in the company - a pure "pawn.".. In essence, there is nothing fraudulent in this, as long as there are no proven frauds. It’s just another dubious company that, taking advantage of Swiss registration and Swiss financial legislation, operates in the financial operations sector in a high-risk segment. Buying an existing company and changing its name and types of activities is not prohibited. But if the information about Mandato Financial Services GmbH ended here, it would just be a suspicious company, nothing more. However, a few months ago, Mandato Financial Services GmbH surfaced in connection with the names of Ukrainian crypto fraudsters Nazar Babenko and Mykhailo Romanenko. It turned out that both of these individuals use Mandato Financial Services GmbH to receive money siphoned from the participants yearning for easy money in the Danvel Group pyramid, consisting of two scam entities – Danvel Ltd and Eternity Business.. Payments from “investors” of Eternity Business go to the account of Mandato Financial Services GmbH, opened in the Lithuanian Mano Bankas. But go back above and read the types of activities of Mandato Financial Services GmbH: “intermediary financial operations in the high-risk segment.”. Danvel Ltd and Eternity Business are precisely this “high-risk segment.” And Mandato Financial Services GmbH is an intermediary in financial operations in this segment. Therefore, the chain is broken – no one will know where Mandato Financial Services GmbH will transfer money from yet another person who fell into the scammers’ trap, except for itself and the payment recipient. Which is securely hidden by commercial secrecy protected by Swiss laws. Are Nazar Babenko and Mykhailo Romanenko the same beneficiaries of Mandato Financial Services GmbH that highly qualified specialists from international financial resources studying its activity have been unable to uncover? One can almost say with near certainty – no. Behind Mandato Financial Services GmbH are players of far higher caliber than, essentially, small-scale and one-time Ukrainian fraudsters. Mandato Financial Services GmbH plays larger games; it has no reason to "burn" itself in a one-time cryptoscam aimed primarily at residents of the post-Soviet space. However, it can easily provide services to launder money from this scam. And it does, reliably shielding the final recipients of these payments from the attention of law enforcement, while simultaneously creating an impression of reliability with its Swiss registration. But this does not change the essence: Mandato Financial Services GmbH – is as much of a fraudster as those who use its services. Dmitriy Dagulis. Автор.
Автор: Иван Пушкин
