Thread by @ChrisO_wiki

1/ Companies involved in schemes to export sanctioned coal and metals from Russian-occupied Ukrainian regions reportedly invested about 10 million euros in Telegram, despite its CEO Pavel Durov's process of supposedly carefully personally scrutinising and selecting investors. ⬇️

2/ 'Important Stories' reports that a Dutch company, Stiron BV, invested about €10 million in the Telegram Open Network (TON) blockchain platform in 2018. The company is interconnected with another Dutch firm, ME Property Invest, but the ownership of both is obscure.

3/ The investment was funded through targeted loans provided by three other companies, two from the UK and one from the Czech Republic. Important Stories describes them as having "the hallmarks of being fictitious". It notes:

4/ "They are registered to front men from Ukraine, do not own major assets, and yet millions of euros passed through their accounts. Two of them have already been liquidated, including Edinburgh-based Commercial Standard Systems."

5/ Stiron BV, ME Property Invest and Commercial Standard Systems are reported to have been involved in the export of coal and metals from the Russian-occupied Donbas region of Ukraine, in connection with 'grey schemes' developed by the Ukrainian businessman Sergei Kurchenko.

6/ Kurchenko was closely linked with Ukraine's former pro-Russian president Viktor Yanukovych, who fled in the 2014 revolution against his rule. Following Russia's seizure of the Donbas, he took over regional raw materials producers and illegally exported their products abroad.

7/ According to Forbes, Telegram's founder Pavel Durov personally met with his investors as part of a rigorous programme of scrutiny. He was able to raise $1.8 billion for the TON project, with the assistance of many investors connected to Russia.

8/ Telegram says that "all investors underwent detailed Know Your Customer (KYC) and anti-money laundering (AML) procedures with leading KYC providers in Europe and in Telegram's European banks."

9/ "Financial market specialists worked with investors, and the Telegram team was engaged in the technical development of the project."

10/ In 2019, however, Telegram was forced by the US Securities & Exchange Commission (SEC) to return money to investors after it ruled that the company had failed to disclose information about the financial condition, business, and risks of Telegram's Gram cryptocurrency tokens.

11/ Telegram says that "all invested funds were returned to investors in accordance with the agreements after Telegram was forced to cease participation in the TON project," but it has declined to comment on the names of specific investors. /end

Source:
istories.media/news/2024/09/0…