Bankera founders used ICO funds on global property buys: Report
Founders of Bankera used funds from a 2018 ICO to acquire luxury properties globally, as reported by the Organized Crime and Corruption Reporting Project. Nearly half of the 100 million euro raised was transferred to a bank in Vanuatu owned by the founders, who then issued loans for high-end real estate investments, including properties in the French Riviera and Lithuania. The bank also provided personal loans to the founders. Lawyers for the founders denied any fraudulent activity but did not comment on specific transactions. Bankera, which aimed to be a leading blockchain bank, failed to deliver on promises of discounted services and a European banking license. Weekly payouts to investors significantly decreased and were halted in 2022. The current value of the BNK token is approximately $975,710, despite the initial ICO raise. Bankera remains active in providing crypto banking services and maintains a social media presence.
