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 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 Vanuatu that was purchased by the project’s founders, Vytautas Karalevičius, Justas Dobiliauskas and Mantas Mockevičius.
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 — including a villa in the French Riviera and high-end property in Lithuania, where the project was founded.
