WILLEMSTAD – Financial forensic researcher and PAR collaborator Luigi Faneyte says he is "astonished" by a recent statement from the Curaçao Gaming Authority (CGA), which he says revealed that a Polish cryptocurrency exchange was used in connection with payments in the island's online gaming sector.
In a statement, Faneyte noted that it had previously emerged that public revenues from the online gaming industry were routed through a commercial payment service provider in the Czech Republic. He now questions why a cryptocurrency exchange in Poland was also involved.
"Why were these public funds not received directly through secure and auditable bank accounts under the supervision of the Tax Receiver?" Faneyte asked.
He pointed to reports of controversy surrounding the Polish crypto exchange Zondacrypto, stating that the company has been linked by Poland's prime minister to concerns involving Russian money, organized crime and political financing. Faneyte said Polish authorities are investigating the company while the government is pursuing stricter regulation of the cryptocurrency sector.
According to Faneyte, the situation illustrates the risks of relying on foreign commercial cryptocurrency platforms for public financial transactions.
"What happens if assets are frozen, an exchange collapses, or becomes the subject of a fraud or money laundering investigation?" he asked. "Who bears the risk, and who is responsible for any resulting losses?"
Faneyte argued that each new public statement appears to reveal another intermediary, account or payment route. He therefore renewed his call for a comprehensive investigation into decisions made under former Finance Minister Javier Silvania, including the involvement of foreign service providers, procurement procedures, costs and the ultimate destination of public funds.
He also repeated his appeal to the Public Prosecution Service to expedite its review of the criminal complaint and supplemental filing he submitted previously.
"There must be swift action before financial trails disappear or public funds move beyond the reach of investigators," Faneyte said.
Neither the Curaçao Gaming Authority nor former Finance Minister Javier Silvania immediately responded to Faneyte's latest remarks. The allegations and concerns raised by Faneyte have not been independently verified by Curaçao Chronicle.