Jubilee Ace/ Jenco/ GTR / 3Key – Lyra Newsletter No. 232

Dear Clients,

We would like to begin this week’s update with a brief clarification regarding the current status of the Jubilee case.

The criminal complaint to the competent authorities in Sweden has not yet been formally submitted. Its preparation remains ongoing, and we will inform you as soon as the filing has taken place.

As there is no procedural development to report this week, we would like to use this update to explain one aspect of the case that is particularly important in matters with an international background such as Jubilee: why identifying and connecting information across different jurisdictions can be significant before and after a criminal complaint is filed.

Jubilee does not exist in isolation

The information available in relation to Jubilee is connected with a broader factual background involving Jubilee Ace, Jenco, GTR and various individuals, companies and transactions.

At the same time, information concerning these matters has appeared in more than one jurisdiction.

This creates a significantly different situation from a fraud case in which the relevant individuals, victims, companies and financial transactions are all located within a single country.

In an international case, the same person or company may appear under different circumstances in documentation originating from different countries, while individual financial transactions may form part of a much broader movement of funds.

Why is connecting this information important?

A single transaction or document may provide only a limited picture.

For example, a payment may identify a particular recipient, but additional information may be necessary to understand who controlled that recipient, where the funds subsequently moved and whether the same account, company or individual appears in transactions involving other investors.

Similarly, the significance of a particular company or individual may become clearer when information from several sources is considered together.

This is why names, company details, bank accounts, cryptocurrency addresses, telephone numbers, email addresses and payment instructions can all become important points of connection.

Proceedings in different countries remain legally separate

It is equally important to distinguish between information that may be relevant across jurisdictions and the legal proceedings themselves.

The fact that proceedings or investigative activities exist in another country does not mean that Swedish authorities are bound by conclusions reached elsewhere.

Each competent authority acts under its own national law and makes its own assessment of the evidence and circumstances before it.

However, verified information originating from another jurisdiction may still provide relevant factual context and may assist authorities in understanding the wider structure of the matter.

This distinction is particularly important in a case with the international background of Jubilee.

Why can information become relevant even later?

The evidentiary picture in international investment fraud cases is not necessarily complete on the date a criminal complaint is filed.

Additional information may emerge later through other proceedings, newly identified transactions, additional victims or further investigative work.

A detail that initially appears to have limited significance may become considerably more important if it can later be connected with a person, company, account or transaction identified elsewhere.

For this reason, the documentation relating to the case remains important even after it has been reviewed and incorporated into the preparation of the complaint.

What should clients do at this stage?

There is currently no additional action required from you, and there is no need to resend documentation that you have already provided.

However, please continue to preserve all original records relating to your investment.

If you receive new communication concerning Jubilee, Jubilee Ace, Jenco or GTR, or obtain previously unavailable information concerning a person, company, bank account, payment or cryptocurrency transaction connected with your investment, please forward it to us.

We will continue working on the Swedish criminal complaint and will notify you once it has been formally submitted.

At that point, we will also explain what the filing means for the next phase of the matter and whether any further action is required from individual clients.

Thank you for your continued trust.

Kind regards,

Attorney Zoran Miljaković