Jubilee Ace/ Jenco/ GTR / 3Key – Lyra Newsletter No. 203
Dear Clients,
Although there are currently no new official updates in the Jubilee Group matter, it is important to understand what happens behind the scenes when several countries investigate the same fraud. This process is complex, slow, and often invisible to victims, yet it is a central part of international financial investigations.
Scams such as the Jubilee Group scheme typically involve numerous jurisdictions—countries where victims reside, countries where shell companies are registered, and others where bank accounts, payment processors, or servers are located. When multiple prosecutors’ offices and financial authorities initiate proceedings, a structured mechanism of international cooperation begins.
This cooperation generally unfolds in three dimensions:
- Exchange of information and evidence – through mutual legal assistance requests, direct communication channels, or international financial security networks.
- Coordination of actions – authorities work to avoid duplicating efforts and instead assemble all pieces of the financial trail into one coherent picture.
- Tracing the flow of funds – each country contributes its banking, corporate, and financial data, often leading to the discovery of new accounts, intermediaries, or associated individuals.
This process can take longer than victims expect, but it is essential to uncover the complete structure of transactions and identify those responsible for the fraud. Our team continues to monitor developments and will inform you promptly of any progress.
Kind regards,
Attorney Zoran Miljaković