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Illegal gaming is a multibillion-dollar industry worldwide. Turkey, Norway, Brazil, or Japan are some of the favorite destinations of the “grey” market gaming industry. The companies work with licenses issued in Malta or, more recently, Curacao. The latter is the current place to play the “I`m licensed I`m clean” appearance. In reality, companies like Gamesys Group PLC have obtained licenses in such jurisdictions as Curacao for the sole purpose of providing online gaming services where online gaming is Illegal. The proceeds are laundered via shell companies from dubious financial service operators utilizing countries like Lithuania, which are known to have a rather relaxed regulatory regime.
Lithuania is currently at the center stage of the online gaming money laundry industry, with the regulated e-Money Institution GlobalNetInt (GNI) at the very front. GNI, part of the FCA-regulated MoneyNetint Group controlled by the Trif Family and Raphael Golan, is headed by the Lithuanian Ludvikas Kulikauskas. GNI specialized in the laundering of proceeds of online gambling and forex companies. While GNI might appear as a fully compliant and lawfully regulated financial service company, it actually does a lot of dirty business for its clients. One of them is Ozan Ozerk with his vast gambling empire.
GNI is a big name in the global gambling industry. The company systemically “rents” out its license to “branch companies” like La Orange in the UK to avoid any direct fallout from their involvement in illegal payment services provided to the (illegal) gambling Industry. All this has been too much for its former compliance officer, who resigned from the company. According to the information available to FinTelegram, more than 90% of the GNI revenues are generated with the high-risk sectors gambling, forex, and crypto
The Gamesys Group (www.gamesysgroup.com) has been a long leader in this market. VERA JOHN is one of the Gamesys brands and works with casino licenses in Curacao and Malta. Breckenridge Curacao B.V. was recently stated as the operator of VERA JOHN, but now the Maltese Dumarca Gaming Ltd is operating at http://www.verajohn.com with an MGA license. GNI facilitates money movements inside and outside of Japan for the Gamesys Group.
The complexity of the web of GNI goes much deeper and crosses multiple jurisdictions and entails dozens of shell companies for the sole purpose of moving illicit gaming profits around the globe to the treasury of the casino operators. We hope that this article will encourage the FCA and the Lithuanian regulatory authority to start cleaning the ship and start paying attention to substance over appearance. And we also hope that this article eliminates the self-serving approach of these casino operators to claim plausible deniability about their financial conduct.