Editorial staff
This document, among other key points, clarified what matters most to the majority of concerned clients—the trails of missing funds, as well as the outline for the steps ahead. Months of cross-border effort paid off, and the first tracks now cut through new ground toward a clear way forward and a genuine sense that better days lie ahead.
The Paper Trail That Changed the Case
From more than 14,000 pages of records, the barrister pulled together the key facts into a concise 153-page brief. It showed where large sums of client money had been found, explained how those transfers took place, and set out a clear plan to recover them. This marked a real step forward after years of uncertainty.
The review, based on official records and creditor statements, added important context by mapping transactions in both fiat and digital assets that moved to several companies. The findings placed the transactions within the timeline of reduced regulatory capital, with available records that show only limited related approvals.
Mapping the Journey of Client Assets
The administrator’s work has already pinpointed where some of the largest sums ended up, and among the clearest findings is €21 million traced to the Baltic International Bank in Latvia. Although that bank later collapsed, the amount remains on record and forms part of the recovery plan.
Another €5 million sits in Lithuania following the closure of Transactive Systems UAB, once a correspondent bank for Migom. These amounts represent only part of the assets under review, with further transfers now mapped and included in the next stages of the process.
The Road Ahead for Depositors
According to several recommendations, the path to recovery involves a mixture of legal action and operational precision. This process should include securing court-approved account freezes, obtaining restraint orders, and pursuing voluntary cooperation from the named individuals. Where cooperation is absent, further remedies–both domestic and international–may be sought.
In the coming phase, an internationally respected liquidator will take charge, try to recover all the traced amounts, pursue further opportunities, and ensure rightful owners receive their funds. They will operate in multiple jurisdictions, work with global regulators, and coordinate with financial entities to unfreeze and bring the assets home.
Creditors who met the administration’s conditions and submitted the required documents on time will be first in line for the distribution process. The structure now in place ends a prolonged lack of direction and gives depositors a defined route for the next stage.
For clients, this moment represents a turning point from a drawn-out search for answers to a structured path toward resolution. In addition to targeting the resources already located in Latvia and Lithuania, the liquidator will explore other potential holdings that could strengthen the overall recovery. Each confirmed asset moves the process closer to full restitution.
A Careful Route to the Finish Line
The positive perspective has started with recent coverage confirming steady progress in identifying and securing assets, with roughly €26 million traced to the Baltics. And it’s just the beginning. Both the statutory team and Dominica’s financial authorities keep accuracy ahead of speed, knowing that every step in this process must stand up to scrutiny across multiple jurisdictions.
The scale of the documentation–thousands of pages gathered from several countries–gives the mission a firm evidentiary base. It supports the work already in progress and directs the search toward additional jurisdictions where assets or related entities may still exist, so no potential lead remains unexplored.
International coordination has moved from a distant aim to a daily reality. Governments, enforcement agencies, and financial regulators in several countries now work side by side, each applying its own rules while moving toward the same outcome.
For clients across the globe, this stage shows that the mechanisms in place now work at full capacity and drive the recovery forward.
Editorial staff
