Founders of crypto fintech firm Bankera allegedly misused funds from their 2018 ICO, totaling €100 million ($114 million), by acquiring luxury properties worldwide, according to the Organized Crime and Corruption Reporting Project (OCCRP). Nearly half of the ICO funds were transferred to a bank in Vanuatu owned by the founders, which then granted millions in loans to companies linked to them for purchasing high-end real estate. Although lawyers denied the ICO was fraudulent, investor payouts fell significantly in 2022, and promises of an EU banking license remain unfulfilled. Currently, the BNK token’s market valuation is only $975,710.
Bankera founders used ICO funds on global property buys: Report
