Bankera founders used ICO funds on global property buys: Report

Bankera founders blew ICO funds on luxury real estate, report

Bankera founders blew ICO funds on luxury real estate, report The founders of now-collapsed Lithuanian crypto project Bankera (BNK) used funds from its much-hyped initial coin offering (ICO) to buy up luxury real estate, including a villa on the French Riviera and high-end property in Lithuania, leaving unlucky investors a collective €100 million ($113.7 million) out of pocket. This is according to a joint investigation by the Organized Crime an…

Bankera founders tied to ICO fund misuse, luxury purchases

The founders of Bankera, a Lithuanian cryptocurrency fintech company, have been hammered with serious accusations over the misappropriation of funds raised during the 2018 initial coin offering (ICO) following a recent investigation. According to a report by the Organized Crime and Corruption Reporting Project (OCCRP), nearly half of the €100 million ($114 million) raised was funneled into the secret acquisition of Pacific Private Bank, a small …

Bankera Founders used ICO funds to buy Properties: Report - CoinCodeCap

Key Takeaways  Half of the funds from Bankera’s 100 million euro ICO were moved to a bank in Vanuatu that was then bought by the founders, Vytautas Karalevičius, Justas Dobiliauskas and Mantas Mockevičius. Some of the transfers from Bankera-associated firms were labeled simply as movements between “own accounts.” A cross-border investigation has found that the founders of Bankera, a Lithuania-based crypto company, redirected tens of millions of…

Bankera founders used ICO funds on global property buys: Report - WorldNL Magazine

The OCCRP reports Bankera’s founders channeled around half of the $114 million the firm raised in its 2018 ICO to a Vanuatu bank to buy real estate in France and Lithuania. The founders of the crypto fintech firm Bankera used funds from the project’s 2018 initial coin offering to purchase luxury properties worldwide, according to a report by the Organized Crime and Corruption Reporting Project.The OCCRP reported on April 28, citing leaked compan…

Bankera founders used ICO funds on global property buys: Report

The founders of the crypto fintech firm Bankera used funds from the project’s 2018 initial coin offering to purchase luxury properties worldwide, according to a report by the Organized Crime and Corruption Reporting Project.The OCCRP reported on April 28, citing leaked company records and bank statements, that nearly half of the funds from Bankera’s 100 million euro ($114 million) ICO were transferred to a bank in the Pacific Island country of V…