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@intel_jakal

Nov 24

Community banks have long been targets by bad actors.
With limited resources and capabilities bad actors Trojan their way into the bank to launder their cash.
#communityone #ponzi #communitybank #fraud

with crypto the bad actors waltz in the front door under the guise of digital transformation.
So imagine the world of pain a little community bank will find itself in when its not just suspect accounts they may have inadvertently laundered.

But the great white knight of their local bank thats been part of the community for 100 years is the biggest fraud of them all.

Read 8 tweets

@intel_jakal@mastodon.cloud

@intel_jakal

Nov 24

My filing system is shite....and I can find stuff all when I search on twitter but I knew somewhere I had covered #deltec and dodgy money flowing into tiny #communitybanks

got literally 2 retweet and 1 like at the time.....it didn't even get called #FUD
maybe now it will get a little more interest.

oh helps if i attach something. #deltec facilitates $5m transfer into tiny community bank in 2017

Read 6 tweets

@intel_jakal@mastodon.cloud

@intel_jakal

Nov 17

@nicolaborzi

So one thing I've learnt if you are a money launder or scammer stay away from #vatfraud. Ripping off citizen's is low risk but if you tax authorities they will hunt you down. check @nicolaborzi article.
ilfattoquotidiano.it/in-edicola/art…

European #vatfraud appears to be such a small world. reading through the article I recognised the reference to a MTIC VAT fraud scheme.

As it was #vatfraud that brought down #dannybarrs
founder of #globaltransactionservices and his associated #onestopshop favoured by #ponzi promoters for almost a decade.

Read 20 tweets

@intel_jakal@mastodon.cloud

@intel_jakal

Nov 11

Now let's drill down on #tether's financial alchemy.
In a diminishing market (which has just got a whole load smaller) "secured loans" increased by nearly $1.64B (nearly 40%).

Yet we know nearly $1B of its secured loans to #celsius were liquidated. It's worth noting that the 130% over collateralised loans were likely to have a far higher LVR under the terms of the lending agreement.

Assuming the typical LVR is at least 50%. i.e., when you borrow $1 you require $2 of collateral.
by end of Jun 2022 #tether held $4.5B of collateral. 8 days later after the #celsius smash and grab this was down $3.2B.

Read 8 tweets

@intel_jakal@mastodon.cloud

@intel_jakal

Nov 10

So while non-binding LOI are well non-binding they often have some binding provisions (well at least the one's I've been a party to) specifically 'confidentiality' -

something like parties agree not to make public statements without prior consent of the other parties unless required by law. it's really not great form to bitchslap the other party after they came to you on their knees begging to be saved.

@sbf_ftx

tbf @sbf_ftx was more than happy to hand out a couple of limp wristed #bitchslap's from his ivory tower (e.g. #celsius $2B).
Its kinda like it was always the intention of the LOI

Read 4 tweets

@intel_jakal@mastodon.cloud

@intel_jakal

Jun 26

1/13:
Nexo review March 2020

2/13:
Nexo review March 2020 (cont.)ç

3/13:
Nexo review March 2020 (cont.)

Read 18 tweets

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