Jubilee Ace/ Jenco/ GTR / 3Key – Lyra Newsletter No. 230

Dear Clients,

In our previous update, we informed you that our legal team had entered the final stage of preparing a criminal complaint concerning Jubilee for submission to the competent authorities in Sweden.

As this work continues, we would like to provide some additional context regarding the preparation of the complaint and why this stage is particularly important in a case of this nature.

Bringing together information from different jurisdictions

Jubilee is not a case limited to a single company, country or group of investors.

The available information concerns several companies and entities connected with the investment structure, including Jubilee Ace, Jenco and GTR, as well as individuals whose roles and activities are relevant to understanding how the investment system operated.

At the same time, information concerning Jubilee has emerged in different jurisdictions and through different proceedings.

One of the key tasks in preparing the Swedish complaint is therefore to organise the available information into a clear factual and evidentiary structure that can be presented to the Swedish authorities.

The position of Swedish investors

A particularly important part of the complaint concerns the investors connected to Sweden and the losses they suffered.

The complaint is being prepared not only to describe the broader operation of Jubilee, but also to establish the connection between that operation and the individual victims whose circumstances fall within the potential jurisdiction of the Swedish authorities.

This includes reviewing information concerning investments, payments, relevant communications and other available documentation.

Why information from other countries matters

Although the complaint will be submitted in Sweden, the underlying facts are international.

Information originating from proceedings or actions taken in other countries may help provide a broader picture of the entities and individuals involved and the manner in which the investment structure operated.

However, proceedings in different jurisdictions remain legally separate. The fact that certain information or evidence exists in another country does not automatically determine what the Swedish authorities will decide.

The purpose of the criminal complaint is to provide the competent authorities with the relevant facts and available evidence so that they can make their own assessment and determine whether further investigative measures should be taken in Sweden.

What happens next?

The criminal complaint has not yet been formally submitted. Our legal team is continuing the final review and preparation of the documentation that will accompany it.

At this stage, no general action is required from our clients.

If additional information or documentation is required from a particular investor before submission, we will contact that person directly.

Once the criminal complaint has been formally filed with the competent Swedish authorities, we will inform you accordingly and explain what the next procedural steps may be.

The preparation of an international criminal complaint requires more than simply identifying the losses suffered by investors. It is important to present the authorities with a structured account of the relevant entities, individuals, transactions and available evidence so that the circumstances can be properly assessed.

We will continue to keep you informed of significant developments.

Thank you for your continued trust.

Kind regards,
Attorney Zoran Miljaković