Currently listed on the London Stock Exchange as B90 Holdings PLC, the company has a dark past. Nicely put. Since 17 March 2020, the company’s shares have been suspended from trading. In addition, the company has announced massive financial difficulties in a press release. The COVID19 crisis is said to be to blame for this. But is that really so? Or is the company caught up in its dark past?
B90 Holdings was founded in June 2016 by a reverse takeover (RTO) of German Uwe Lenhoff and his Dutch partner Dirk-Jan “DJ” Bakker under the name Veltyco Group PLC. Dutch accountant Marcel Noordeloos was appointed as Chief Financial Officer. The admission document for the listing stated that one of the main sources of income was the operation of the scam broker Option888. Various financial market regulators have issued investor warnings against Option888. Nevertheless, the then Veltyco continued to market Option888. In addition, other broker scams were also operated by Lenhoff such as TradoVest or XMarkets.
In January 2019, Lenhoff was arrested after long investigations by law enforcement agents of different European jurisdictions. He is in custody in Germany awaiting charges of operating a criminal organization, money laundering, and investment fraud. Lenhoff, as well as Veltyco, have maintained intensive relations with the collapsed Atlas Banka in Montenegro. The bank collapsed in the course of money laundering investigations. According to Dusko Knezevic, the fugitive boss of Atlas Banka, Lenhoff and his network were major customers of his bank.