Jubilee Ace/ Jenco/ GTR / 3Key – Lyra Newsletter No. 199
Dear Clients,
Regarding the Jubilee Group case, questions often arise about how international regulations affect proceedings and the possibility of recovering funds.
It is important to understand that each country has its own legislation and supervisory authorities regulating financial activities, cryptocurrencies, and MLM projects. In some jurisdictions, a fraud like Jubilee Group constitutes high-tech crime, while in others, cryptocurrency and MLM regulations are still underdeveloped.
What this means for victims:
- Risk of limited protection: Depending on the jurisdiction of the suspects or where the investment was made, legal protection may be limited.
- Coordination between regulators: In cases of international fraud, authorities must coordinate actions – from freezing assets to exchanging evidence – which can slow down the process.
- Importance of documentation: All evidence of transactions, communications, and contracts is crucial, as it is used across different countries for legal proceedings and potential fund recovery.
- Prevention of future scams: Understanding international regulatory rules helps victims recognize similar scams and avoid further losses.
Although proceedings may appear slow and complex, coordination and enforcement of international regulations are essential for legal protection and the eventual recovery of assets.
We remain in contact with the relevant authorities and will continue to update you as soon as official information becomes available. Your patience and cooperation are essential to the success of the investigation.
Kind regards,
Attorney Zoran Miljaković