BreadXPay Exposed: Inside the Fintech Scam Targeting Retirees Worldwide

In today’s digital age, fintech companies promise to make cross-border payments faster, easier, and safer. However, beneath the surface of modern financial technology, some companies are exploiting these promises to run elaborate scams. One of the most alarming examples is BreadXPay, a platform that claims to be a leader in borderless banking but is, in reality, a global fraud engine. This article reveals how BreadXPay operates, who is behind it, and why retirees around the world are its primary targets. Using the latest investigative insights, expert commentary, and a detailed breakdown of the fraud mechanism, we expose the truth behind the so-called fintech innovation.

The Face Behind BreadXPay: A Network of Deception

BreadXPay appears to be a legitimate cross-border payment solution, but it's nothing more than a front for a transnational scam. At the heart of this web is Joshua Sneider, the shadowy figure who orchestrates the entire operation. He is not a publicly listed CEO or company owner; instead, he works from behind layers of shell companies, false names, and ghost partners. His technique is sophisticated: he creates companies that appear legal, registers them in jurisdictions like Canada and the UK, and appoints puppet directors to avoid direct liability.

According to sources familiar with his operations, Sneider has a history of working in grey financial markets, including crypto scams and binary options in Israel. His strategy is to fabricate legitimacy, then use aggressive marketing tactics to attract vulnerable individuals who lack financial knowledge. Once the money flows in, it is diverted through a complex network of offshore accounts, making it nearly impossible to trace or recover.

Why Retirees Are the Primary Targets of BreadXPay

BreadXPay doesn't randomly select its victims. The scam is specifically engineered to prey on retirees, especially those living on fixed incomes or seeking secure investment opportunities. These individuals are often less familiar with digital platforms, more trusting, and in many cases, desperate to grow their savings. BreadXPay offers them a polished interface, appealing financial terms, and a fake sense of security through terms like "protected e-wallets" and "regulated accounts."

In one documented case, a 72-year-old retired teacher from Florida was lured in by promises of 10% monthly returns on her deposit. After transferring her $25,000 life savings, she received fabricated account statements for three months. When she tried to withdraw, her access was suddenly blocked. Her story is not unique.

The scam operates by exploiting gaps in consumer protection laws and using elaborate terms of service that make legal recourse nearly impossible. Once the funds are deposited, victims are often stonewalled with excuses, legal jargon, and unresponsive customer service. In some cases, they're told they must deposit more money to "unlock" withdrawals, a classic high-level fraud tactic. According to 2025 statistics from SeniorLiving.org, elder financial abuse costs seniors over $28.3 billion annually, with 72% of losses inflicted by someone the victim knows—trends that align with BreadXPay's family-run model.

How the BreadXPay Scam Works: A Step-by-Step Breakdown

The BreadXPay fraud model is highly structured and replicates itself across various geographic locations. First, the fraudsters establish a company under a credible name in a financially respected country. Then they hire puppet directors, such as Lorna McCairley Perets, who lend their names to company documents but play no real role in operations.

The next step involves recruiting local agents like Eric Harbor in the United States. Harbor operates through a company called Tolida Enterprises Ltd, which presents itself as a merchant onboarding and fintech intermediary service. In truth, it is merely a funnel to route American investors into the BreadXPay ecosystem. Once these individuals are onboarded, their funds are directed into accounts that lack proper safeguarding and transparency.

According to leaked documents, the deposits are immediately moved across various unregulated offshore financial institutions, often in jurisdictions known for loose financial oversight. From there, the money can disappear without a trace. If a victim tries to initiate a chargeback, they are met with resistance, unresponsiveness, or even fake legal notices. Withdrawals are routinely denied or "delayed" for months, sometimes indefinitely.

This model has been used repeatedly under different brand names. When one brand is exposed or receives legal scrutiny, the group simply rebrands and starts again. This cyclical pattern has allowed them to evade law enforcement for years.

Profile of Key People Behind BreadXPay ( Scam Syndicate)

1. Joshua Sneider — The Mastermind

Role: Ultimate architect and secret owner of BreadXPay.

Modus Operandi: Operates from behind layers of shell companies, aliases, and ghost partners.

Background: Known in Israel’s crypto and binary options fraud circles.

Specialties: Building fake financial pl1. Joshua Sneider — The Mastermind

Why Important: He controls the technical infrastructure, legal setup, and key decision-making, while remaining hidden.

2. Eric Harbor — The U.S. Frontman

Location: Delray, Florida, USA.

Company Name Used: Tolida Enterprises Ltd.

Role: Onboards American victims (mostly elderly/retirees), acting as a “fintech intermediary.”

Tactics:

Uses slick presentations and fabricated legal claims.

Misleads victims into thinking BreadXPay is secure and regulated.

Real Function: Acts as the U.S.-based laundering funnel, converting trust into financial entrapment.

3. Lorna McCairley Perets — The Puppet Director

Age: Approximately 70 years old.

Role: Listed as company director across multiple scam entities (including BreadXPay).

Real Function:

Absorbs liability on paper.

Shields actual perpetrators.

Helps companies pass as legitimate for regulatory approvals.

Insight: Initially thought to be a figurehead, but evidence shows she's a knowing enabler and central to the scam's legal front

4. Gal Arie — The Crypto Launderer

Relation: Son of Lorna McCairley Perets.

Role: Interfaces with shady crypto platforms and funnels digital funds into fiat gateways for BreadXPay.

Positioning: Poses as a “crypto expert” to mask money movement through shadow systems.

Function: Keeps the fraud cycle alive by enabling anonymous, cross-border fund transfers.

5. LeAnne McCairley Wiezman — Client Silencer

Relation: Daughter of Lorna Perets.

Title Used: “Head of Client Services” for BreadXPay.

Role: Handles (or suppresses) customer complaints from victims.

Emerging AI Trends in Fintech Scams Like BreadXPay (New Section Based on 2025 Trends)

In 2025, fintech scams are evolving with AI, as highlighted in reports from Google and Veriff. Deepfakes and AI-generated voices are now used in "pig butchering" schemes, where scammers build fake relationships to extract funds, mirroring BreadXPay's trust-building tactics. Over 50% of fraud involves AI, with real-time payment scams rising 20% year-over-year. This amplifies elder abuse, where victims lose an average of $28.3 billion, projected to hit $30 billion by year-end due to these tech enhancements.

Legal and Regulatory Responses Underway

The global nature of the BreadXPay scam has complicated legal responses, but recent developments show that investigations are gaining momentum. Several private investigative firms hired by defrauded victims are preparing case files for agencies such as the FBI and Israel's Ministry of Finance. These case files include:

• Evidence of fake documentation
• Shell company networks
• Testimonies from elderly victims
• Communications between the actors involved

Legal experts say the operators could face charges including wire fraud, racketeering, conspiracy to defraud, and violations of anti-money laundering (AML) laws. If convicted, sentences could range from 10 to 30 years, especially in jurisdictions like the U.S., where elder financial abuse carries additional penalties.

Moreover, regulators in Canada and the UK are revisiting past licensing approvals to determine whether due diligence was bypassed in the setup of these entities. Given the trail left behind by BreadXPay and its related companies, legal accountability may finally be catching up with its creators.

The Broader Impact of Fintech and Public Trust

Scams like BreadXPay do more than harm individuals; they undermine trust in the fintech industry as a whole. Innovations like cross-border e-wallets and cryptocurrency integration have the potential to make finance more inclusive, but fraudsters have hijacked these tools for personal gain.

When retirees lose their life savings to a platform that promises security and regulation, the ripple effects are massive. Families are destroyed, retirement plans vanish, and confidence in digital banking plummets. In an industry that depends on user trust and data integrity, such scams are financial terrorism in disguise.

According to a 2025 report by Fintech Integrity Watch (updated from 2024), over $1.5 billion is projected to be lost globally in scams involving fake fintech services. Of those cases, more than 37% involved elderly victims, and 65% included fake e-wallet platforms enhanced by AI, similar to BreadXPay.

Final Thoughts and a Warning to the Public

BreadXPay is not a fintech innovation; it is a well-oiled fraud machine designed to exploit trust, manipulate legal gaps, and drain the finances of the world’s most vulnerable. With a cast of deceptive actors, a fake corporate structure, and calculated marketing tactics, it has managed to evade law enforcement for years. But as more victims come forward and legal actions begin to gain traction, its downfall may be near.

For the public, the lesson is clear: Always verify the licensing and legitimacy of any financial platform before investing. Never trust promises of high returns without risk, and be especially cautious with platforms that target retirees or first-time investors. Watch for 2025 trends like AI deepfakes in customer support scams.

In the words of one victim: "I just wanted to feel secure in my old age. Instead, I lost everything to a company I thought I could trust."

BreadXPay must serve as a cautionary tale for both consumers and regulators. The cost of silence is simply too high.

This article is based on investigative documents, victim statements, and third-party research. If you or someone you know has been affected by BreadXPay or a similar platform, contact your local financial regulatory authority immediately.