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Swedish Buy-now pay-later giant Klarna files for IPO in the US!
Klarna, the Swedish buy now, pay later (BNPL) giant, has officially filed for an initial public offering (IPO) in the United States. The fintech company confidentially submitted the relevant paperwork to the U.S. Securities and Exchange Commission (SEC), it said last night. Allegedly, the firm was in talks with banks about a New York IPO and was targeting a $20bn price tag.
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Dual Citizen Daren Li Pleads Guilty to Laundering $73M in Crypto Scam Proceeds
Daren Li, a dual citizen of China and St. Kitts and Nevis, has pleaded guilty to laundering over $73 million in cryptocurrency scam proceeds through shell companies and international bank accounts. His global scheme targeted U.S. investors, with funds laundered via encrypted communications and complex financial networks across multiple jurisdictions.
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Bravo: Former Spanish Anti-Money Laundering Chief Arrested Over Drug Trafficing and Money Laundering!
In an almost laughable twist, Spanish law enforcement arrested Óscar Sánchez Gil, former head of Spain’s national anti-money laundering division, after €20 million was discovered hidden within the walls of his home. Officers also found €1 million in his office, hidden in two locked cupboards, in bills of €50-500. The arrest follows Spain’s largest cocaine seizure, revealing links between high-ranking officials and drug trafficking networks.
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Russian Entrepreneurs and Their Expanding Influence in Online Gambling and Crypto Payments
The Russian entrepreneurs Roland Isaev and Paata Gamgoneishvili have secretly emerged as major players in the online gambling and crypto payment processing sectors, with their influence extending through complex business structures in various jurisdictions. FinTelegram's ongoing investigations reveal their involvement with key entities, such as the SoftSwiss and Merkeleon groups, which they appear to control through ownership stakes and strategic acquisitions.
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FTX Estate Sues Binance and Former CEO Zhao for $1.8 Billion Over “Fraudulent” Share Deal
It seems that the bankruptcy of the US crypto exchange FTX will continue to cause ripples across the crypto scene. In a high-stakes lawsuit, the FTX estate is targeting Binance and its former CEO, Changpeng Zhao (CZ), seeking $1.8 billion over a controversial 2021 share buyback deal. Allegations include claims of a “constructive fraudulent transfer” and accusations of tweets that allegedly accelerated FTX's collapse.
Payment Processors
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Starscream Casinos: Offshore Casino Operator, Potential Regulatory Evasion, Payment Facilitators, and More Cyprus Connections!
Online casinos are easily transferable digital assets. The transfer of Gammix Ltd's casinos to offshore operator Starscream Ltd raises serious questions about the continued illegal gambling activities in Europe. Despite massive penalties from the Dutch regulator KSA, Gammix appears to have simply shifted its operations offshore, where it continues to flout regulatory oversight facilitated by regulated payment processors.
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Cybercrime Alert to Payment Processors: Warning Against Acceptance of Anonymous Domain app-paymentgw.pgws2b.com
The FinTelegram research team has identified a suspicious domain https://app-paymentgw.pgws2b.com currently deployed by several anonymously operated online casinos of Liernin Enterprises, including Malina Casino, Talismania, SlotUna, and others. This domain has been flagged due to its association with activities that potentially violate financial regulations and legal standards for online gambling.
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Report on Cazimbo Casino: The Role of Payment Processors in Facilitating Illegal Online Casinos!
Another day, another exposed illegal online casino facilitated via Cyprus. Payment processors play a crucial role in sustaining this underground economy. FinTelegram's research repeatedly reveals that without these facilitating payment processors, many illegal online schemes, particularly in the gambling sector, would not thrive. Currently, we are focusing on the brands of the collapsed Rabidi Group that continue to operate anonymously and unauthorized. Here is our report on Cazimbo.
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The Rabidi Case: The Mysterious Actions of Beneficial Owner Denys Butko and Other Connections
The case of the Rabidi Group is a prime example of the opacity of the online casino sector. Rabidi, once a significant player in the online gambling industry with a Curacao license, has recently come under scrutiny after the group's sudden disappearance following its bankruptcy in June 2023. Following FinTelegram reports, Denys Butko, the alleged beneficial owner recently deleted his LinkedIn profile.
Cybercrime Court Cases
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Crypto Crime: Bitcoin Fog Operator Sentenced to 12-Year Prison Term for Darknet Money Laundering!
Roman Sterlingov, dual Russian-Swedish national and operator of Bitcoin Fog, sentenced to over 12 years in prison for running the darknet’s longest-lasting bitcoin mixer, laundering over $400 million in criminal proceeds. A jury found Sterlingov guilty of money laundering conspiracy, money laundering, operating an unlicensed money transmitting business, and money transmission without a license.
Regulatory Updates
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The X Factor: How Andreessen’s War on ‘Criminal’ Boycotts Could Catapult Musk’s Platform to Unprecedented Heights
In the wake of Donald Trump's recent election victory, a seismic shift is occurring in the landscape of US tech and politics. At the epicenter of this transformation stands X, Elon Musk's controversial social media platform, poised for what could be an unprecedented revenue explosion. Marc Andreessen, co-founder of the influential venture capital firm Andreessen Horowitz and a key investor in X, has thrown down the gauntlet.
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The Tech Oligarchs’ Gambit: How Trump’s Allies in Silicon Valley Could Redefine Power on a Global Scale!
The Trump administration's return brings a powerful alliance of tech moguls like Elon Musk, Peter Thiel, and Marc Andreessen to the forefront, blurring lines between business, politics, and free speech. As they reshape America’s political landscape and along with create a global US tech dominance, critics question the integrity of democracy amid the growing influence of these elite tech figures.
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Trump Eyes SEC Shakeup: Commissioner Mark Uyeda a Strong Contender for New Chair!
With Trump’s return to the White House, speculation is mounting in the crypto community over who will lead the U.S. Securities and Exchange Commission (SEC). Crypto attorney Jake Chervinsky sees Mark Uyeda, an SEC commissioner critical of current Chair Gary Gensler’s crypto policies, as a top candidate for the role. Hester Peirce, known as “Crypto Mom,” is viewed as less likely to step up.
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