Dear Clients,
In today’s newsletter, you will find another excerpt from the criminal complaint in the Jubilee Group case that we have written and submitted in different jurisdictions.
… The role of Regal Core Market (RCM)
The companies Jubilee Ace and Jenco allegedly conducted their trading activities through the entity Regal Core Market (https://rcmfx.com/en/). This company was registered in the offshore zone of Vanuatu. However, its website is no longer operational.
EVIDENCE No. 12: Regal Core Market registration documents
Jubilee Group used the RCM platform to conduct financial transactions. However, there are credible suspicions that individuals responsible within RCM and Jubilee Group provided false information regarding the state of financial assets allegedly belonging to Jubilee Group, with the intention of deceiving the victims. Furthermore, there is a strong suspicion that RCM and the Jubilee Group endeavored to convince the victims of the legitimacy and success of the Jubilee Group’s business venture, enticing new victims to invest.
On June 1, 2022, RCM announced that an amount of USD 2,164,603,559.08 belonging to Jubilee Group had been deposited into their accounts.
EVIDENCE No. 13: RCM update 01.06.2022 Mr. Cale Kingsly
On June 10, 2022, our law firm requested RCM to freeze our clients’ assets pending the legal proceedings’ conclusion. No reply was ever received, and no form of communication was established through any of the official channels set up by this company. Below, you will find a part of our request to RCM:
“Considering that the above-mentioned individuals are subject to criminal proceedings, we kindly request that the funds of Jubilee Group in the amount of 2,164,603,559.08 USD, which are deposited in your accounts, be frozen until the conclusion of the legal proceedings. The clients we represent have the right to restitution and satisfaction of their claims through these funds.
Legal Advice
Failure to comply with our request to freeze the funds may result in accusations of complicity in the criminal offenses attributed to the responsible individuals of Jubilee Group.”
To be continued…
Zoran Miljakovic
Attorney at Law