During the investigation of a large-scale financial crime, in which the criminals used attractive investments profits and in which the victims from different European countries, including citizens of Lithuania, participated, a coordination meeting was held at EUROJUST.
On October 25 of 2024, at the invitation of Vice President Margarita Šniutytė-Daugėlienė, the representative of Lithuania in the European Union institution that coordinates the activities of legal institutions of member states in the field of international and organized crime (Eurojust), Deputy Chief of the Chief Police Commissariat of Utena County Vaidotas Žilys, Chief of the Economic Crimes Investigation Department of the Criminal Police Ričardas Kuzmickas and chief investigator Monika Bareišytė participated in a meeting on Eurojust cases. Officials in more than ten European countries: Germany, Spain, Portugal, Malta, Cyprus, etc. carry out criminal investigations in their countries into possible money laundering and investment fraud involving Mabcredit and Palm Alliance amongst others.
A large-scale case is being investigated in Europe, where the victims transferred different amounts of money to specified bank accounts through the investment platform www.mabcredit.com in order to invest funds in the international investment firm offering trading, wealth management, and asset management services with daily returns from 0.7% to 1.86% Three months later, after receiving the promised return on investment and believing in the successful investment model, they invested even larger sums of money. However, from the summer of 2023, investors were no longer able to log in to their various account, so they lost the invested funds. According to preliminary data, the total damage caused to the affected natural persons exceeds 200 million euros.
Citizens of the Republic of Lithuania were also tempted by the promised high investment profits, who also lost their invested money. In the pre-trial investigation carried out by the Economic Crime Investigation Department of the Utena County Chief Police Commissariat, it was possible to identify and temporarily limit possibly illegally acquired funds exceeding 100 million euros which will will returned to investors represented by Insight Litigation LLP and other legal representatives around the world.
During the coordination meeting, which was attended by Latvian, Austrian and Swiss officials, available information was shared, investigation actions were discussed, and further procedural actions were planned.
