Ilan Tzorya extortion and investor fraud

Ilan Tzorya is a new partner of Amiran Dzanashvili & Michael Eluashvili (aka Malkhaz, aka Malxaz).

Ilan Tzorya (an Israeli and Bulgarian citizen) is a professional corporate fraudster that raids companies, taking the shareholders for a ride and eventually leaving them cleaned out.

It started well… 

Around 2013, having made a deal with Yehoram and Shay Hillel to found Tradologic.com – one of biggest forex platforms today, Ilan attracted investments from three people excited about the idea: Gery Shalon, Vladislav Khokholov (now Smirnov) and Shalom Mackenzie. In total $4m was raised for a 30% investor stake.

With this money, the company burst forth in a blaze of successful glory – the most congenial welcome at any conference, a rapidly growing development team and a round advertising budget.

A happy ending depends on where you stop your story. This story went on.

Later on, Gery Shalon was conveniently arrested as the main JPMorgan hack suspect. Right after Gery’s arrest, Ilan made some very smooth moves that started the downhill slide for rest of the party.

In order to avoid responsibility and escape the problems from banks, Ilan Tzorya, having all the power as the CEO, removed Gery’s company from the list of shareholders in Tradologic, passed his share to Vlad, and bought out the shares of Shalom McKenzie.

Now Tradologic regained considerable power to operate and attract new quite eminent clients, including Gal Barak. Strangely enough, however, the company did not bring substantial profit.

This made Hillel brothers (50% stakeholders) wonder. They started to question Ilan’s integrity as the CEO and a partner. Obviously, Ilan couldn’t have the shareholders asking too many questions and checking accounting records, so he came up with a genius plan.

He managed to convince their biggest client at the time, Gal Barak, and Ilan’s convenient partner Vlad Smirnov that the other shareholders (Yehoram and Shay) were operating in favor of other companies to steal Gal’s clients.

Having seen the proof of database leaks generated by Ilan himself, Gal wrote a few letters of termination to shareholders of Tradologic. For Tradologic, losing Gal as a client was a devastating prospect.

And so the trickster kept on trickin’

Ilan told his “way too curious” partners that he wanted to sell Tradologic, cornering Hillel brothers with scanty options. Without the biggest client and Ilan as the CEO, Tradologic wouldn’t be worth much. Ilan organized a BMBY process within the partners where the biggest bidder would win the opponent’s share, the increasing bid being the evaluation of the company.

The auction closed quickly, resulting in the company’s evaluation growing from 500k to a mere 850k The winning bidder was Vlad Smirnov who bought the shares from Yehoram, Shay, and Ilan himself.  Little did Hillel brothers knew that it was only part of Ilan’s plot against them. As it turned out later, Ilan simply pretended to be selling his shares along with Yehoram and Shay, so that they would be more inclined to sell theirs.

A puppet shareholder

He sold everything to a puppet shareholder – Vlad, only to reorganize the company, rename it to Global Fintech Solution, LTD, and buy back a portion of shares of the newly formed GFS himself from Vlad. This led to the increase of his stake in the company that owns Tradologic brand, domain, clients and software.

Vlad was a convenient partner indeed, he lived in Russia, didn’t travel much, was happy to see Excel reports with pretty graphs of growing revenues, projected future profits, and an increased stake in the business.

From here on, Tradologic was fully in Ilan’s hands. The company started its new life. Legally Ilan had only 34% of the company, Vlad had 46%, and two other shareholders entered the scene with 10% each. Gal Barak and Uwe Lenhoff were the biggest clients of Tradologic.

However, concealed from the shareholders, all employees and the rent in the main office of the company were paid from his own company – SuperDev EOOD, where he owned 100%.

There’s always a bigger fish, but would it stop him?

Out of the blue, in 2017, when Gery Shalon (who everyone was convinced would spend the rest of his life in prison) was set free by the New York court,  started to ask the same inconvenient questions as Hillel brothers did before him. The revenues of the company were already close to one million a month, with very little dividends.

Ilan had a déjà vu. With him controlling only 34% of the main company and unable to make a deal with current shareholders, he needed to come up with a better plan.

Naturally, he came up with one; This time it seemed like he completely abandoned any concern for ethics or law.

Tzorya and a previously active director of Tradologic Michael Golod decided to take over the clients of Tradologic, its domain name, and databases. SuperDev EOOD (Ilan’s company) was now proclaimed a new brand that replaced Tradologic. Another trick was that it continued using the property of GFS to run the clients of GFS and sign new contracts with the clients.

Now SuperDev controls not only the office and the employees but apparently receives money from the clients of Tradologic. Those clients who are aware of the blatant theft of IP rights have no choice but to comply under the threats of their businesses being turned off.

Smooth move? Hold on, this isn’t all. What happens to the rest of the shareholders and investors of GFS? Apparently, that’s the easy part.

Nothing stops the conman

Ilan Tzroya partners up with members of Eli Musli gang – Michael Eluashvili (aka Malhaz, aka Malxaz) and Amiran Dzanashvili. They “buy” his 34% in GFS and start to send threatening letters to the newly elected director Gal Barak and other shareholders. What do you get? – Multiple intimidating phone calls from Malxaz and other gang members threatening Gal’s life. The same drill they always do when taking over companies in Albania and Romania.

What are the shareholders left with in the end? GFS is just a shell without anything but a trademark which is being dumped, and a mafia instead of a partnership.

Oh, and it gets better. Today Ilan Tzroya is paying off journalists to publish false information on their blogs. The funny thing is that only a few months ago Werner Boehm (the owner of Fintelegram) published an article about Ilan Tzroya. He silently removed it after being paid off, and now keeps publishing misleading information and fabricated claims about Ilan’s opponents.

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