The case
Between January 2019 and March 2020 (Dey 1397 to Esfand 1398), Mohammad Jorjandi, manager of the Webamooz website, published material against Farhad Moghadamsalimi in several waves: first accusing him of money laundering, then of fraud and a Ponzi scheme concerning the Bitroleum token. Farhad Moghadamsalimi himself filed a complaint in court. These accusations were rejected in the courts of Iran, and Mohammad Jorjandi was convicted by the judicial authorities of publishing falsehoods and insult. The first-instance verdict was issued in August 2021 and became final in 2023. To this day, Farhad Moghadam Salimi has no criminal record in either Iran or Turkey; that is, he has not been convicted of any offence by any judicial authority, and no criminal case has been brought against him.
Farhad Moghadamsalimi has no criminal record in either Iran or Turkey.
The published accusations
- Fraud: rejected
- Money laundering: rejected
- A Ponzi scheme concerning the Bitroleum token: rejected
Cooperation with WebMoney
From 2009 to 2019 Farhad Moghadamsalimi was the official representative of WebMoney in Iran. His role was that of a “registrar” for issuing the WebMoney identity certificate (Personal Passport). That is, he reviewed the documents of WebMoney account holders and verified their identity. This representation did not involve buying or selling WebMoney or carrying out transactions for users.
This cooperation ended in 2019, and he has had no activity in WebMoney since then.
Today the use of WebMoney is prohibited in many countries, including Iran, Turkey and European countries. In practice, WebMoney no longer has any use in exchange outside Russia.
His role with WebMoney (2009–2019) was limited to identity verification as registrar for the Personal Passport. It involved no buying or selling and no transactions for users, and it ended in 2019.
Ege Money today
Ege Money is active today in investment and software. The company works only with its own capital, which belongs to its shareholders, and accepts no capital or funds from any customer or third party.
Ege Money works only with its shareholders’ own capital and accepts no capital or funds from any customer or third party.
Ege Money’s activity today has two parts:
- Investment: The company invests its own capital on Borsa İstanbul.
- Software: Ege Money develops stock-market analysis software, particularly for US equities. Its newest project is egemoney.ai, an artificial-intelligence-based system for analysing stock markets. At present the system is a private, internal tool to which only the company’s management has access, and it is used to support the company’s own investment decisions. Through it, Ege Money neither receives funds from anyone nor manages anyone else’s portfolio.
Ege Money has sponsored the Göztepe women’s volleyball team in the 2021–2022 season and the Halcyons American football team. The company also holds the Turkish translation and publication rights to the book “The Fiat Standard” by Saifedean Ammous.
Response videos (in Persian)
Related pages
- Official response to the allegations
- Official statement on the Bitroleum token project
- Full biography of Farhad Moghadam Salimi
Last updated: 12 November 2026
About the Author
This article was written by Farhad Moghadamsalimi, Senior General Manager of Ege Money and a market analyst with 30+ years of experience in financial markets.