Financial Intelligence Report: NovaForge Ltd – The New Face in the Illegal Online Casino Scene!

tamir
Tue, 03 Dec 2024 09:54:37 +0000
Illegal gambling, Illegal Payment Services, ticker, Binance, ButOn, Dama, Hollycorn, Ivan Montik, Liernin Enterprises, Merkeleon Group, MiFinity, Mirata Services, N1 Interactive, NovaForge, Paata Gamgoneishvili, Rabidi Group, Roland Isaev, Softswiss, SoftSwiss Group, Tilaros, Tranello

In recent investigations, FinTelegram has uncovered NovaForge Ltd as a significant operator in a globally active network of illegal online casinos. Operating anonymously through multiple brands and domains, this network defies regulatory frameworks in Europe, North America, and Asia, continuing the legacy of the defunct Rabidi Group. NovaForge Ltd, registered in the Marshall Islands and recently licensed by Anjouan Gaming, raises serious concerns about compliance, money laundering, and the role of Cyprus-based payment agents.

The Discovery of NovaForge Ltd

NovaForge Ltd emerged as a new player in the intricate web of illegal online gambling operations. Registered offshore in the Marshall Islands and linked to the controversial Anjouan Gaming licensing body, NovaForge acts both as an operator of illegal casinos and as a payment processor for other entities within the network. Alongside Liernin Enterprises Ltd, also based in the Marshall Islands, NovaForge operates dozens of online casino brands. Many of these were previously tied to the now-bankrupt Rabidi Group, demonstrating a clear continuity in the scheme.

Read our Anjouan Gaming analysis here.

The Rabidi Group Connection

FinTelegram’s September 2024 forensic report on the Rabidi Group bankruptcy revealed the intricate network supporting its operations. Rabidi‘s downfall, triggered by a German player’s unpaid winnings, exposed how its assets and operations were quietly transferred to new entities like Liernin Enterprises and NovaForge. These operators continue to run casinos under new brands and domains, evading regulatory oversight.

Download the Rabidi Bankruptcy Report here.

Further investigation reveals that NovaForge Ltd has registered over 50 domains and brands with Anjouan Gaming for its online casino operations. Each of the brands reviewed by FinTelegram utilized Mirata Services Ltd, a Cypriot payment agent directly linked to the defunct Rabidi Group’s network.

Additionally, Liernin Enterprises Ltd, another entity associated with the Rabidi network, also appears as a payment agent for NovaForge. These findings strongly suggest that NovaForge is not an independent operator but a continuation of the Rabidi Group’s scheme, run by the same individuals seeking to maintain their illegal operations under new branding and domains. This continuity underscores the deliberate and strategic efforts to evade regulatory scrutiny and continue targeting players in unauthorized jurisdictions.

Cyprus: The Operational Hub

A key finding in our investigation is the central role of Cyprus as the operational and financial hub for this illegal gambling scheme. Several Cypriot companies, including Tilaros Limited, Tranello Limited, and Mirata Services Limited, act as payment agents for these casinos. Notably:

Mirata Services Limited facilitates payments through Binance, raising questions about the use of cryptocurrency in money laundering.

NovaForge Ltd processes payments via MiFinity, a high-risk payment processor increasingly implicated in supporting illegal gambling operations.

The links between these payment agents and the broader network, including the Russian-controlled SoftSwiss Group, suggest a well-coordinated effort to evade scrutiny while ensuring the seamless flow of funds.

SoftSwiss and Russian Connections

There is also hard evidence behind NovaForge and the collapsed Rabidi Group of links between these illegal online casinos and the SoftSwiss Group and Merkeleon Group. Besides the Rabidi Group, the SoftSwiss network allegdly also inludes Dama, Hollycorn, and N1 Interactive.

Read our SoftSwiss report here.

The involvement of SoftSwiss, a gaming software provider allegedly controlled by Russians Roland Isaev and Paata Gamgoneishvili, adds another layer of complexity. Via its founder Ivan Montik, SoftSwiss is connected to the Merkeleon Group, which operates the crypto payment platforms CoinsPaid and CryptoProcessing. These platforms are heavily utilized in the online gambling sector, further facilitating anonymous transactions and potential money laundering.

Anjouan Gaming: A Regulatory Facade

NovaForge Ltd’s recent registration with Anjouan Gaming highlights the persistent issue of weak offshore licensing regimes. Anjouan’s licensing process, criticized for its lack of transparency and regulatory rigor, provides a veneer of legitimacy to operators who continue to flout local gambling laws in Europe, North America, and Asia. This aligns with FinTelegram’s earlier warnings about the questionable practices of Anjouan Gaming.

The Expanding Network

The discovery of NovaForge Ltd indicates that the network of illegal online casinos is far from dismantled. Instead, it appears to be growing, with new legal entities, brands, and domains surfacing to replace those exposed or shut down. The involvement of high-risk payment processors like MiFinity, Binance, and CryptoProcessing underscores the financial enablers that allow these operations to thrive.

Call for Information

FinTelegram is intensifying its investigations into this sprawling network and the role of Cypriot payment agents in facilitating these illegal activities. We urge insiders with relevant information to come forward. Submissions can be made anonymously and securely through our whistleblowing platform, Whistle42.

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