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Estonian compliance issue – who is Igor Torsin or about the responsibility of nominee directors

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Being the director of nine regulated financial institutions? Really? Yes! It is known that cybercrime organization and their scams work with nominee directors. Sometimes they want to hide behind them, and sometimes they are needed to get licenses and bank accounts. The latter is apparently the case with Igor Torsin, who, according to our records, works as a director in nine Estonian crypto companies. All nine are FIU-licensed crypto payment processors, and some of them are involved in scams and supporting them with their services.

Igor Torsin, 62, apparently works for these nine FIU-licensed crypto payment processors as a nominee director and/or nominee shareholder. Although he may not be involved in the day-to-day operations of the nine companies, he has legal and regulatory responsibility as a director. To that extent, he is also responsible for scam involvement. Here is the list of his companies:

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
A

Not surprisingly, all of the above-listed regulated crypto payment processors share the same legal address: Harju maakond, Tallinn, Lasnamäe linnaosa, Väike-Paala tn 2, 11415. The same address is also used by other FIU-licensed companies such as Lipan Services OÜ d/b/a BitTheBank or Vulture OÜ d/b/a Cratos, which we exposed as scam facilitators.

It is probably fair to assume that there are beneficial owners behind Igor Torsin who are not Estonians. It should interest the Estonian FIU to know who these people are. It should also interest the FIU that one person acts as a director of nine regulated financial services companies at once. That should not be possible in the first place.

We would like to know more about Igor Torsin‘s activities and the economic owners behind him. If you have any information, we would be grateful if you could share it with us.

CategoriesEstonian FIU

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