Bankera founders used ICO funds on global property buys: Report

Quick Summary:

Source: BankeraThe leaked records and statements reportedly show that the funds were used to underwrite loans to other companies, which were then used to purchase high-end real estate. The Vanuatu bank also loaned millions more directly to the three founders for “personal use,” according to the OCCRP report.

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.

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Article Details

Author / Journalist: Cointelegraph by Brayden Lindrea

Category: Crypto

Markets: United StatesFranceLithuaniaVanuatu

Topics: Estate Services Bankera Occrp Bankera’s Real Vanuatu Founders Bank Funds Million

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-29 @ 06:24:10 (23 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 408 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 28280017

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