Founder of crypto fintech company Bankera accused of misappropriating ICO funds to buy luxury homes

Odaily News According to an investigation by OCCRP (Organized Crime and Corruption Reporting Project), the three co-founders of the crypto fintech company Bankera, Vytautas Karalevičius, Justas Dobiliauskas and Mantas Mockevičius, are suspected of using nearly half of the $114 million raised in IC0 in 2018 through self-controlled banks to purchase luxury homes in the French Riviera and Lithuania, and to issue millions of euros in personal loans. Although lawyers deny fraud, the BNK token dividend commitment was terminated in 2022, and the bank license promised by the project has not been realized. Currently, the fully diluted market value of the BNK token is only about $976,000. (Cointelegraph)