If anyone takes a look today at what Deltec Bank in the Bahamas is, they see only a tiny and almost anonymous offshore financial institution whose only point of interest seems being the custodian bank of the reserves guaranteeing the so-called “stablecoin” Tether. Tether and Bitfinex have been the focus of the recent New York State Attorney General (NYAG) investigations, as well as of some class actions, and are connected to the US Department of Justice investigations into Crypto Capital Corp (Panama).

But in its distant past, what is now Deltec Bank and Trust and its group of companies were…

Mr Devasini shaves himself

The lawless rollercoaster of bitcoin enriches few investors, while many often lose everything. After the boom in December 2017 at 16,720 euros, the virtual currency had already lost 65% by February 6, 2018. Now [as of February 13th, 2021] it flies to around 40 thousand euros but the bubble can burst at any moment. The crypto community considers a guru Mr Giancarlo Devasini, who on Skype signs himself “Merlin the wizard”. The executive is Chief financial officer of Bitfinex, one of the major crypto exchange platforms in the world, and a director of Tether Ltd which issues the homonymous virtual…

Art market, online trading, ICOs as emerging channels of financial crime

Photo by Etienne Martin on Unsplash

To put a clean shirt upon the character: this, according to Ambrose Bierce, is the diabolical meaning of dissembling. When it comes to hiding the origin of a sum of money, making it wear a clean shirt can become complicated, tiring and above all expensive, unless if you use a certain amount of imagination. This resource certainly is not what the best criminal minds lack. In the Danske Bank scandal, the money laundering scheme was based on zero controls: a very efficient loophole. During my career as a financial investigative journalist, lasted over a quarter of a century, I have…

Nicola Borzi

Investigative journalist and whistleblower who proved criminal offenses committed by the ousted Chair, Ceo and editor in chief of his former media company

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