Bitclub Newsletter No. 110
Dear Clients,
In the previous newsletter, we explained why this case is taking so long. However, there are also positive aspects of this case that are beneficial for the clients.
A thorough and in-depth financial investigation has been conducted in this case. A large financial value in cash, cryptocurrencies, real estate, luxury items, and shares in companies where the suspects had invested has been temporarily confiscated. This property has been seized by the state prosecutor’s office. We have already written about this in previous notices.
What is a financial investigation?
A financial investigation of money flows is a process in which financial transactions and money flows are analyzed to determine the origin, movement, and final destination of the funds. This type of investigation is usually conducted in cases involving suspicions of money laundering, terrorism financing, fraud, or other forms of financial crime.
Can the confiscated money be used for the compensation of crime victims?
Yes, confiscated money can be used for compensating the victims of criminal acts. The procedure usually includes:
- The court makes a decision to confiscate the assets directly or indirectly acquired through criminal activities.
- The confiscated money can be transferred to a special fund intended for compensating the victims. In some cases, the money is directly paid to the victims based on court decisions.
- The victims have priority in receiving compensation from the confiscated assets, before the state retains the remaining funds.
The purpose of these measures is to provide fair compensation to the victims for the damage suffered and to reduce the financial incentive for committing criminal acts.
Is it still possible to file a claim for damages?
Yes, it is possible through our website. We remain patient and continue to monitor the work of the prosecution and the court in this case.
On July 17th Joby Weeks’ sentencing was rescheduled for November 20th, 2024. No reason is provided.
Zoran Miljakovic
Attorney at Law