This decision has been made because the Bank of Lithuania has started an inspection of this institution and has grounds to suspect that the institution may have violated the requirements regulating the prevention of money laundering and terrorist financing, as well as other legal acts – serious shortcomings are observed in its activities.
The Bank of Lithuania received permission from the Regional Administrative Court to make the aforementioned decision.
The institution had already suspended service provision before the Bank of Lithuania’s decision.
In June, an investigation published by the Estonian business publication “Aripaev” revealed that the manager of the Lithuanian electronic money institution “Lux International Payment System” is a businessman connected to Estonia, Marcus Milleborg, who used several passports with different names, along with his family.
The businessman was convicted in Estonia in 2010 for large-scale money laundering. He created non-operational banks and payment institutions under the names of well-known banks, and people who made payments to them lost their money.
According to sources from “Aripaev,” he continues similar activities – acquiring a payment institution license, creating a fake service center, and after extracting enough money, moving the operation elsewhere.
The criminal, born in Italy, uses three passports from different countries – in the Swedish passport he is M. Milleborg, in the Armenian – Marcus Yeghiazaryan (Markus Jegijazaryan), and in the Saint Kitts and Nevis – Mark Williams.
