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Bankera Founders Accused of Misusing ICO Funds for Luxury Real Estate Purchases
Bankera Founders Accused of Misusing ICO Funds for Luxury Real Estate Purchases
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Bankera’s founders face serious allegations of diverting nearly half of their 2018 ICO proceeds—approximately €50 million—to acquire high-end properties globally. Leaked documents reveal funds were funneled through a Vanuatu bank purchased by the executives themselves.
The scheme allegedly involved circular financing, with the Vanuatu institution issuing loans to shell companies controlled by the same trio. This case underscores persistent transparency issues in crypto fundraising, despite the industry’s maturation since the 2017-2018 ICO boom.
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