The acquisition of FCA-regulated e-money institution Monetley Ltd by Cyprus-registered MRCR Holdings Ltd has not been disclosed to the public. This MRCR Holdings is also the controlling entity behind the Russian-controlled crypto payment processor Mercuryo. The Russian national Grigory Vaysman acts as director of this Cypriot legal entity. Perhaps the FCA in the UK should listen to the concerns of their colleagues at the FIU in Estonia, which revoked the scheme’s crypto license.
The UK Companies House register shows that Cyprus-based MRCR Holdings, the company behind Mercuryo, took control of Monetley Ltd in February 2023. In their communication with the Estonian FIU, the Mercuryo people also named MRCR Holdings as the controlling holding. So we can rightfully conclude that this Cypriot entity owned by Russian citizens has control over both the FCA-regulated EMI Monetley Ltd and the crypto payment processor Mercuryo.
UK registered MoneyTea Ltd d/b/a Mercuryo is an FCA registered agent of Monetley since June 2021. In this respect, the acquisition was probably only a logical step.
In its decision to revoke the crypto license, the Estonian FIU stated that the Russian Petr Kozyakov could not be the only beneficial owner of Mercuryo or MRCR Holdings. Behind Cypriot MRCR Holdings Ltd the FIU found two collective investment schemes in Cayman Islands: Target Global Selected Opportunities, LLC (Series Mercuryo No 1) and Target Global Selected Opportunities, LLC (Series Mercuryo No 2), whose beneficial owners could not be determined. These collective investment schemes registered with the SEC and evidently raised money from U.S. citizens.
The Estonian FIU also noted in its decision to revoke the license that Mercuryo did not disclose all beneficial owners. Likewise, it did not set out how the individual companies operate in relation to each other or the scheme.
|Legal entities||MoneyAmber UAB, Lithuania|
MoneyMaple Tech LTD, Canada (MSB registration number: M21565803)
MoneySwap OÜ, Estonia
MRCR Holdings Ltd (shareholder of MoneySwap OÜ)
MoneyTea LTD, UK (agent of FCA-registered Cauri LTD)
Monetley Ltd, UK (FCA-licensed EMI) as principal of MoneyTea Ltd
Cauri Ltd, UK (FCA-licensed Payment Institution) as principal of MoneyTea Ltd
Target Global Selected Opportunities, LLC (Series Mercuryo No 1)
Target Global Selected Opportunities, LLC (Series Mercuryo No 2)
|Related individuals||Petr Kozyakov, Russia (LinkedIn)|
Aleksandr Vasilev, Russia (LinkedIn)
Greg Waisman, Cyprus (LinkedIn)
Andrey Ilinsky, Cyprus (LinkedIn)
Grigory Vaysman, Cyprus
Dimitrijs Lapkoviskis, UK, (LinkedIn)
Natalja Medvede, UK, (LinkedIn)
Aviessa Khoo, Singapore (LinkedIn)
Lindsay Burret, UK (LinkedIn)
Antons Blohins, UK, resigned in July 2022
|Authorization||FCA for MoneyTea Ltd|
|PayRate42 rating||Red compliance rating (profile)|
If you have any information about Mercuryo or Monetley, their operators and partners, please let us know through our whistleblower system, Whistle42.
Perhaps the FCA in the UK should listen to the concerns of their colleagues at the FIU in Estonia, which revoked the scheme’s crypto license.
-> don’t worry it was done. we are communicating with the FCA to stop this Russian Laundromat Monetely / Mercuryo / ADVCASH. the NCA shall be notified also.
Thx for sharing your information with us. Much appreciated. Those guys are evidently super-aggressive and bold. They do not hesitate to file lawsuits against regulators.
Of course, Ben, behind a computer at the middle or Russia, they don’t care and file and file without limits but they always loose at the end like in Estonia, the decision published is from appeal court and I suspect that the supreme court will even not review the case.
It was interesting to get the full translation which shows how stupid dumb Russians from village they are, they failed to disclose UBOs on US entities and were still disputing this part of the 1st instance decision which is totally idiot.
This legal approach is typical from GSL Law which is behind them.
Whatever I guess the UK NCA will at the end do something and put this Russian network Mercuryo/ADVCASH out of business