The founders of Bankera, a crypto fintech firm, allegedly misused funds from the company's 2018 initial coin offering (ICO) for personal investments in luxury properties around the world. According to a report by the Organized Crime and Corruption Reporting Project (OCCRP), around half of the $114 million raised was transferred to a Vanuatu bank owned by the founders. The bank then issued loans to the founders and their companies, facilitating the purchase of high-end real estate, including a villa in France's French Riviera and properties in Lithuania. Reports suggest that the founders received additional loans for personal use. Despite their promises of becoming a premier bank for blockchain users, investors have complained about significantly reduced weekly payouts from Bankera's BNK token, and the initiative to obtain a banking license remains unfulfilled. Currently, the total diluted value of the BNK token stands at only $975,710, raising concerns over the project's financial stability.

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