Envestio was one of about ten fast-growing loan platforms in Latvia. Until recently, they offered private individuals a return of up to 22 percent. The money would be passed on to start-ups as short-term loans. The company had its main accounts, first in SEB and then Swedbank.

For example, according to Envestio's website until January last year, a cryptocurrency farm in Riga received almost 4 00 000 euros from various savers.

At the address in Riga where the cryptocurrency company is registered, there is today only an old abandoned factory building in concrete from the Soviet era, which is completely empty.

A strong warning

Cryptocurrency is, according to financial crime experts, a strong warning signal about suspected crime and money laundering.

SVT has reviewed all Envestio's 31 investment projects. Pluss another 12 companies that received money through Envestio's accounts in SEB and Swedbank. Behind the projects we find a wide range of companies in, among others, the Czech Republic, Poland and Cyprus that do not appear to have any business.

In addition to the Swedish banks, Envestio had accounts in three financial institutions in Malta.

Swedbank said in an interview with SVT that they ”understand that a police investigation is underway in this case”. SEB does not want to be interviewed. In an email, the communications manager writes that they know Envestio well and that they are working closely with the authorities to stop the fraud. Both banks made no comments about the company due to customer confidentiality.