Dear Clients,

As you know, we are managing this case in association with the Jubilee Ace and Jenco, GTR (collectively referred to as the Jubilee Group) cases. The investigations have uncovered a connection between both cases. Considering that the Jubilee Group case was initiated earlier and is at an advanced investigation stage, it is beneficial to associate the 3Key Lyra case with it.

What can we expect in this case in 2024? The investigation will continue in all countries where we have filed a criminal complaint. What does the investigation entail?

The investigation by the public prosecutor and the police involves the process of collecting evidence and information to determine whether a crime or offense has occurred and to identify the perpetrators. This process may include interviewing witnesses, gathering physical evidence, analyzing financial transactions, forensics, searches, obtaining court orders for communication surveillance, as well as collaboration with other relevant agencies or experts. The goal of the investigation is to gather enough evidence to file charges against the perpetrators or, in some cases, determine that there is not enough basis to initiate criminal proceedings.

So, here is the epilogue. Below, we are publishing a part of the criminal complaint that we have written and submitted on behalf of the victims of this alleged fraud.

… Based on the quarterly reports presented by the perpetrators to the victims, it can be observed that the company achieved a gross profit of 37% from the capital it utilized in the alleged arbitrage trading. Therefore, there was a reasonable expectation that the company would continue fulfilling its promises to the victims by paying out profits, which unfortunately did not occur.

Initially, the company would pay out profits to the victims in the form of the cryptocurrency Bitcoin, directly into their accounts on the company’s website. This created an illusion of success and convinced new clients to invest their money in the system. However, this was merely an initial step in a long-term deception, as perpetrators eventually stopped paying out profits after gaining the trust and a significant amount of money from the victims. Instead, the victims’ funds ended up in the company’s account, which purportedly traded on their behalf, but in reality, the money was simply transferred between various accounts created by the perpetrators. In this way, they lured many people into investing in a fictitious system that did not function, thereby causing them significant financial harm.

Once the perpetrators successfully convinced a large number of victims to invest, they managed to accumulate approximately 4 billion USD. However, after achieving this goal, they ceased making further payouts and instead retained the money for themselves. To conceal their tracks, the suspects transferred the victims’ funds to digital wallets that are difficult to track and access. Additionally, they converted the money into other tangible assets under their control, attempting to evade potential recovery and penalties.

The victims were deceived as the perpetrators claimed that investing on their platform carried no risk, thanks to advanced artificial intelligence-based technology that guaranteed trading success and profit generation. However, there are serious suspicions that the perpetrators manipulated the victims, fabricating the trading process and presenting fictitious gains to gain trust and attract new investors. Furthermore, Jubilee Ace Limited did not have the necessary permits and licenses to conduct this activity despite presenting the opposite to the victims. The perpetrators must have been aware that they needed the required permits and licenses before offering their financial service – arbitrage trading on the stock exchange.

To be continued…

Zoran Miljakovic
Attorney at Law