
EFRI Class Action – Fund recovery claims against collapsed KBH Andelskasse and its owners
The international shadow banking system around the collapsed Danish Kobenhavn Andelskasse (a/k/a KBH Andelskasse) dominated by Jesper Bak and Wael Almarree was one of the worst payment facilitators for (legal and illegal) gambling and scams between 2016 and 2018. Also involved during this time were Danish FinTech Clearhaus and FCA-regulated Moorwand (formerly UPayCard). The European Fund Recovery Initiative (EFRI) filed the fund recovery claims with the Danish FSA and filed a criminal complaint with the Danish prosecutor's office.