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Estonian Compliance Issue – The Estonian lawyer Igor Torsin and Eesti Firma

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A few days ago, we asked, who is this Igor Torsin, 62, would be. A busy man for sure. We identified him as a director of nine FIU-licensed crypto payment processors in Estonia. Among these are also some that operate as scam facilitators – PayTechno or Steveyx d/b/a Venus Exchange. Evidently, he is the frontman for getting and maintaining the FIU license. Now we know that Igor Torsin is a lawyer working in Tallinn, Estonia, at Eesti Firma OÜ, a company builder specialized in crypto licenses, among other things. This has become a nice business in Tallinn; unfortunately, many scammers also use these services.

Below is the list of licensed Crypto Payment processors in which Igor Torsin is installed as a director.

Company

FIU license

Brand/Domain

Scam involvement

Paytechno OÜyeshttp://www.cryptopaytech.com, http://www.paytechno.comyes
DQC Capital OÜyeshttp://www.dqc-capital.comnot yet
BITEEU DCX OÜyeshttp://www.biteeu.comnot yet
Somayko OÜyeshttp://www.xarbor.comnot yet
GreenElephant OÜyeshttp://www.ge.exchangenot yet
Steveyx OÜyeshttp://www.venus.exchangeyes
Venus Exchange Services OÜyeshttp://www.btc-land.comyes
CoinCarrier OÜyesnot foundnot yet
SharkPay OÜyesnot foundnot yet

In some of these licensed companies, Torsin is registered as the only director. Among them is Steveyx (companies register), the Venus Exchange (http://www.venus.exchange) operator, which we have already discovered several times as a scam facilitator. We understand that Igor Tsorin is not the operational director running the business. Others do that. With that, he probably has no idea that in “his” companies, scams are also supported intentionally or because of compliance errors. Mr. Torsin is most likely is an honest guy working his ass off in Eesti Firma (www.estifirma.ee). However, as a director, he is responsible for his companies’ activities to the relevant authorities and the victims.

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