An investigation by the Organized Crime and Corruption Reporting Project (OCCRP) reveals that founders of the crypto fintech firm Bankera used funds from their 2018 initial coin offering (ICO) to acquire luxury properties globally. The report cites leaked company records and bank statements, showing that nearly half of Bankera’s €100 million ($114 million) ICO was transferred to a Vanuatu-based bank owned by the founders – Vytautas Karalevičius, Justas Dobiliauskas and Mantas Mockevičius. This bank then reportedly issued loans to companies connected to the trio for luxury real estate projects, including a villa in the French Riviera and high-end properties in Lithuania.