The Bank of Lithuania informed that the license of the notorious Italian-Lithuanian Trustcom Financial UAB has been revoked. Bankruptcy proceedings will be filed, criminal investigations have been initiated in Lithuania, Latvia, and Italy due to the possible organization of money laundering by its Italian CEO Marco Spinola and his partner and board member Michele Scognamiglio. They are the beneficial owners of the financial institution. Thus, these guys can no longer be deemed “fit and proper” to run a licensed financial institution, the Bank of Lithuania remarked.
From 2021 November 11 until 2022 February 24 the institution had already received a total of €2.3 million in customer refund requests which were not satisfied. Because of the failure to fulfill its legal obligations, the Bank of Lithuania will apply to the court regarding the initiation of bankruptcy proceedings against the company.
Marco Spinola (LinkedIn), an Italian living in Latvia, owns several other companies in the Trustcom Group together with Michele Scognamiglio (LinkedIn). Both are Italian citizens living and working in Latvia.
Scognamiglio is connected to the unregulated payment processor Kaliax Pay Ltd, registered in London, through his relative Ciro Scognamiglio. Conto Per Protestati Ltd in the UK also appears in the network as an unregulated payment processor. The Romanian Marius Constantin Stoia controls this UK entity.
Stay tuned for a more extensive update!
sorry Tamir (if you really exist) , could you explain at least what it the source of the information that you collected in this article ???
Skylas UAB
Fuselma UAB
Bobas UAB and many others were reported by TF to the Lithuanian FNTT , after illegal activities were detected, a criminal pre-trial investigation, after our report, were initiated in 2022 against these companies.
Who is your informer? You are spreading disinformation with such articles?
Thank you for your comment. Can you please explain, what you think is false information in this article?
It is a fact, that the Bank of Lithuania revoked the license and bankruptcy proceedings have been initiated. It is also a fact that you, Marco Spinola (if it is you), served as the company’s CEO. It is also a fact that you are connected to Michele Scognamiglio, one of the beneficial owners of Trustcom.