Lithuanian Authorities Target Founders of Failed Cryptobank

Lithuanian authorities allege three Bankera co-founders diverted at least €45M of proceeds from the project’s 2017–2018 ICO into an offshore Vanuatu bank they controlled, used investor funds as collateral for personal loans, and purchased luxury real estate across Europe; prosecutors have frozen assets, issued formal notices of suspicion, and face challenges locating the founders, who are reported to have relocated to Monaco.