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.
Now think about this.
If the smartest guys in the industry ...who are self proclaimed smartest and most astute nobheads that have ever walked the planet are flapping around saying one saw this coming.
What chances does anyone in a tiny little community bank have?
How many community banks are in the US?
How many are at many have been exploited by those walking in the front door promising the world.
How many of #silvergate's other clients are community banks? How many are shelf co's self reporting crapo money transmission spivs? and how many of those are funneling cash to the digital exchanges? h/t @DataFinnovation for flagging silvergate's report....

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More from @intel_jakal

Nov 26
So there's quite a bit of speculation around how #Chalopin of #deltec was able to acquire a tiny rural bank. Chalopin jnr interview by @Protos described it as an "extremely lucky find" but they didn't find it by driving through the backroads of the rural America
there was no need to wrestle control from local shareholders....or negotiating price over a couple Maryland rum's in jam jars. The bank had long gone offshore
Back in 1994, Farmingtngton Bancorp was acquired by Farmington Finance Corp Tortola, British Virgin Islands. At that time it had a whopping $1.8m in deposits
Read 12 tweets
Nov 25
Don’t forget that #tether invested in #celsiusnetwork
Celsius banked with #deltec and cashed out #ftx for $150m just before the ship went down. Image
Don't forget #deltec's bestest operator. gamer boy #pepin. Image
Read 11 tweets
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 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
Nov 23
Ok maybe I am 5th quadrant stupid.
But can someone please explain to me wtf is going on here? From the #tron #DAO page....$39.5Billion
Almost all of it is #tether that alone rings more alarm bells than the #hunchback on a 5 day bender mainlining #meth
But its nothing compared to this....I mean wtf....risk free yield 45% on USDT???

#tron #ponzi #fraud #stablecoin #shitcoins #tether
Read 4 tweets
Nov 17
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.…
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
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

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