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.
… On April 20, 2023, RCM announced the immediate cessation of all operations and permanent closure of all activities, deposits, and withdrawals due to insolvency.
EVIDENCE No. 15: RCM UPDATE 20.04.2023 CALE KINGSLEY
On May 18, 2023, the CEO of Jubilee Group, Mr. Tony Jackoson, announced that GTR is no longer able to continue with its business operations and indicated the intention to file for bankruptcy. Following this announcement, the GTR portal was no longer accessible.
EVIDENCE No. 16: UPDATE JUBILEE GROUP 18.05.2023 Tony Jackson
Based on the aforementioned evidence, there are strong indications that the responsible individuals in RCM and the Jubilee Group were part of the same joint criminal enterprise.
As previously stated, the Japanese financial institution initiated an investigation into Jenco due to the company’s lack of necessary licenses for the activities for which it was registered. The company managed the funds of its investors, who were the victims, through subscription programs requiring additional licenses they did not possess.
The investors (victims) in the mentioned companies did not have access to their funds, nor were their accounts with brokers or cryptocurrency exchanges under their names. The company operated in its own name on the market, using the funds collected from the victims, which constituted the company’s capital. They knowingly managed other people’s funds without possessing the necessary authorizations and licenses required for such operations.
To be continued…
Zoran Miljakovic
Attorney at Law