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The OCCRP reports Bankera\u2019s 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.<\/p>\n
The founders of the crypto fintech firm Bankera used funds from the project\u2019s 2018 initial coin offering to purchase luxury properties worldwide, according to a report by the Organized Crime and Corruption Reporting Project.<\/p>\n
The OCCRP reported<\/a> on April 28, citing leaked company records and bank statements, that nearly half of the funds from Bankera\u2019s 100 million euro ($114 million) ICO were transferred to a bank in the Pacific Island country of Vanuatu that was purchased by the project\u2019s founders, Vytautas Karalevi\u010dius, Justas Dobiliauskas and Mantas Mockevi\u010dius.<\/p>\n Soon after, the Vanuatu bank reportedly began issuing millions of euros in loans to companies owned by the trio to build a luxury real estate portfolio \u2014 including a villa in the French Riviera and high-end property in Lithuania, where the project was founded.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n