Crypto Crime Victim Superfund Moves Forward – European Commission Accused of Ignoring Crypto Fraud
The victims ‘ groups represented by their lawyer, Dr. Jonathan Levy, have suffered losses exceeding €1 billion. The Petitioners propose the implementation of an unnoticeable .0001 cent per € insurance fund fee on crypto asset transactions that would provide for a victim Superfund. Daily crypto asset volume has been as high as €1 trillion recently. Crypto assets are currently uninsurable and the proposed EU superfund would provide much needed relief for victims of Ponzi schemes, hacks, fraudulent ICOs, scams and extortion that utilize or involve crypto assets.
Attorney & Solicitor
Dr. Jon Levy is a solicitor who specialises in transnational law and private international law. He has represented the former president of the Republic of China, Chen Shuibian, the former Deputy Prime Minister of Yugoslavia, and numerous African entities and political figures. He has been engaged by clients against the US Office of Foreign Asset Control (OFAC), CIA, US Army, and UK Cabinet. As a litigator he specialises in transnational asset recovery and has taken up cases against the Vatican Bank, UBS AG, the Swiss National Bank, Emaar Corporation, and many others.
Dr. Jonathan Levy
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The victim’s lawyer then accused the EU Commission of complicity in the OneCoin scheme:
t +44 20 8144 2479
“OneCoin continues to operate from the European Commission’s own top level domain portal.onelife.eu where victim accounts are maintained along with the nominal valuation of €42.5/OneCoin from an office in Sofia. We have notified the EC many times about the use of ccTLD .EU by OneCoin …”
“Furthermore, most losses suffered – through for example fraudulent initial coin offerings (ICOs) or hacks of cryptocurrency exchanges -occur outside of the EU.”
The European Union Parliament Petitions Committee is considering a Petition filed by lawyer, Dr. Jonathan Levy, on behalf of investors, organizations and companies seeking the establishment of a crypto industry supported Superfund to reimburse victims of crypto fraud and crime.
In a letter to the EU yesterday, Dr. Levy disputed the European Commission position that crypto fraud was not a problem. The European Commission (EC) in its initial October 12, 2020 response to the petition opposed the creation of a Crypto Victims Super Fund and stated:
Dr. Levy who represents victims of the massive OneCoin crypto fraud reminded the EU that that the largest ICO (Initial Coin Offering) fraud ever committed was the OneCoin scheme which began in 2014 and was based in Bulgaria. Consumer losses are estimated between €5 to €15 billion worldwide.
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