Dear Clients,

In the past week, we were working on the following:

We have completed supplementing the criminal report with new information relating to Jubilee Group’s business conducts, transactions, and personal information about the suspects.

In the meantime, we have 200 new clients who hired our office to represent them in this case. Their claims will be processed and added to the supplemented criminal report, and these documents and information will be handed over to the public prosecutor soon as well. 

In the previous week, we received many questions from our clients. We have selected some to share here: 

  •  When is the official initiation of criminal proceedings expected in Croatia?

According to our colleague from Zagreb, who is our local associate, in this case, we could expect it soon. We submitted the criminal report on 06.05.2022. Other criminal reports submitted in April of this year are being evaluated now, so it is, therefore, to be expected that our’s will be processed in the near future. 

  •   Will the prosecutor seize enough funds to compensate all victims?

The total turnover of Jubilee Group exceeds the amount of our client’s claims many times over. According to statements provided by RCM, there are enough funds on their platform. This is without taking into account other assets belonging to the owners and directors of this project. We believe there will be enough funds to compensate our clients. 

  • Is it better to conduct this case in the EU or the USA?

The Jubilee Ace/Jenco/GTR case is very complex. We have clients from the USA, which also enables us to file a criminal report there as well. 

American prosecutors already have worked on such cases and have successfully solved them. We have established cooperation with colleagues from the US and have experience working with them and personal knowledge of how the American judicial system operates with similar cases. 

Europol and European judicial bodies are also effective. The difference between European and American judicial systems is not negligible, but it does not make a crucial difference to us in this case. We have chosen to submit our criminal report in Europe, however, we have the option available to us to do so in the US if the need arises. 

Kind Regards,

Zoran Miljakovic 

Attorney at Law