WILLEMSTAD – Financial forensic investigator Luigi Faneyte, affiliated with Partido Alternativa Real (PAR), is expanding his investigation into foreign financial and cryptocurrency flows connected to Curaçao’s online gaming sector. The investigation focuses on how funds generated by the industry were received, processed and accounted for.
Faneyte previously filed a report and an additional complaint after identifying possible irregularities during his research into the gaming industry. One of the cases that raised concerns involved BC.Game, an online casino whose Curaçao-based companies were declared bankrupt while players and other creditors were left with unpaid claims.
According to Faneyte, the situation raised broader questions about supervision of the online gaming sector and the control of international financial transactions.
A key part of his investigation concerns documents received from within the gaming sector. According to Faneyte, these documents indicate that individuals within the former Gaming Control Board, now the Curaçao Gaming Authority (CGA), instructed casinos to make payments through cryptocurrency wallets or foreign payment service providers.
The documents allegedly include payment instructions involving cryptocurrency networks such as Tron and Ethereum, as well as accounts with a payment provider in the Czech Republic.
Faneyte argues that the use of foreign payment routes and cryptocurrency wallets for public revenues creates serious risks regarding transparency and accountability.
“Public funds remain public funds, regardless of whether they are received in guilders, euros, dollars or cryptocurrency,” Faneyte stated.
He said authorities must be able to determine who controlled the accounts or wallets, who had access to the funds, how the revenues were recorded and how much ultimately reached the national treasury.
The investigation will examine available financial and digital information and attempt to link transactions to invoices, license holders, foreign payment providers and administrative records.
Faneyte said the main questions are how much money was received through foreign accounts and crypto wallets, where those funds went and whether all revenues belonging to Curaçao were properly recorded and transferred to the government.
“The population deserves a complete answer,” Faneyte said. “How much money did the gaming sector actually generate, through which channels was it received, and how much ultimately reached Curaçao?”
He stressed that the available documents require careful verification and do not yet represent final conclusions regarding the destination of funds or the responsibility of specific individuals.
Faneyte expects to provide an initial update on the investigation within approximately three weeks.