Monika Sild of iPayTotal Helped a Crypto Scam? (2024)

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About Monika Sild and iPayTotal

Aditya Williams served as the Estonian iPayTotal OÜ’s registered director until recently. Monika Sild, an Estonian nominee director, took over as the new director in March 2021. The Estonian FIU has not yet granted iPaytotal a licence to run a cryptocurrency payment platform. However, the business runs CryptoMatix, which was ostensibly founded by Ruchi Rathor. To further enter the cryptocurrency payment market, iPayTotal OÜ appears to be considering applying for a FIU crypto licence.

In addition to announcing the launch of its “most advanced” cryptocurrency payment platform, CryptoMatix, the infamous British-Indian high-risk payment processor iPayTotal, which is associated with Sen Kugan and Ruchi Rathor, also stated that it “is actively seeking appropriate bank acquirers or entities to partner with the payment solutions company in what is promised to be a long-term measure to assist current and new merchants, especially those in the high-risk industries.” So, this is a big project, isn’t it? CryptoMatix obviously required new leadership.

Who Managed iPayTotal Before Monika Sild?

The January 1986-born Indian national Aditya Williams, whose LinkedIn profile states that he is employed by Doofus Ideas Ltd. (www.doofusidea.com), a digital marketing company, has departed iPaytotal. This firm was dissolved by mandatory strike-off in July 2019, thus that makes sense. (Companies House). In 2019, Tecnomatix Ltd. was dissolved through a compulsory strike-off, and he served as both the director and beneficial owner of the company (Companies House). Williams has been involved with Finserve Ltd. since March 2021, and the confirmation statement for this company is past due. Perhaps the next ante portas strike-off that is required?

More Details About Monika Sild

Monika Sild, the recently appointed director from Estonia, is also listed as a nominee director at Ledio Group OÜ and AlfaCash OÜ. To get a crypto licence, you must have a fit and proper director, according to Estonian FIU’s regulations. That’s not useful if, like Aditya Williams, you have a lengthy and well-known history with iPayTotal. In any case, running CryptoMatix as a cryptocurrency exchange or payment processor would be prohibited without a FIU licence. However, it’s possible that the licence has already been granted but hasn’t been added to the Companies Register.

About Monika Sild’s Company: IPayTotal 

Features include fraud prevention, hosted pages, mobile platform, real-time batch processing, and MOTO payments. IPayTotal provides merchants with an API-linked payment gateway that allows them to accept online payments. It accepts credit cards, debit cards, and other alternative payment methods. Users can monitor and manage transactions, payouts, refunds, and reserves in real-time with its web-based or downloadable reporting software.

CryptoMatix is the trading name of IPT Solutions PT, a company registered in Portugal. The owners of the company are the same people who owned the collapsed and disappeared iPayTotal group. BitMatix (PC42 profile), PayoMatix (PC42 profile), and the associated Kryptova (PC42 profile) are just a few of the iPayTotal successor schemes. Many millions vanished in the process. The beneficial owners were Ruchi Rathor, Anirudh Pratap Singh Rathor, and Anurag Pratap Singh. These individuals are currently operating a number of successor schemes through their companies in India and the UK. BitMatix is just one of them. According to FinTelegram, there are no funds in iPayTotal Ltd but at least GBP 1.1 million in claims from creditors.

A blacklisted payment processor and merchant services provider, iPayTotal Ltd. was ordered by a UK court to enter insolvency and liquidation in November 2020. FinTelegram has exposed iPayTotal as a facilitator in numerous scams. iPaytotal was a notorious Indo-British high-risk payment processor that was primarily involved in scams and cybercrime activities.

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