He spells his name in several ways. Sergey Sergeyevs is one of them.

Swedbank was one of the banks that enabled the fraud-like business. Sergeyevs has worked for the bank during the 1990s. In recent years he has also been involved in a legal dispute with the bank.

Replaces time and time again version

He says he has nothing to do with the Envestio platform except he is one of the borrowers. Several circumstances speak against him. When we finally get hold of him by phone, he is strikingly talkative and cordial. Then he switches over and over again what has happened. Finally, he starts talking about contacting a lawyer.

He first places a great responsibility on Envestio's former CEO. Sergeyevs has previously said that he himself came up with the business idea and created the platform but now he says that he may have sold or provided the loan platform to the CEO. Or maybe it was the CEO who stole the idea.

- He who was the manager of the company, he disappeared, it is very strange, says Sergey Sergeyevs.

"Maybe a scam yes"

One of Sergeyev's companies, which is written on his wife, has received about SEK 6 million through Envestio. He has also been chief financial officer of one of the Envestio companies that received the most money. He says again that it's strange that all the money is gone.

- Maybe this is a fraud, yes, maybe, but there are mortgages for all the loans. Maybe half of the projects are fraud, and half are real. I don't know what to say, says Sergei Sergejevs, adding that his own company is a real project.

Sergeyevs speaks quickly in elegant English. He says many of his friends made money on the loan platforms. Then he blames the financial bloggers, that it was they who created the loan industry and at the same time made money from it through commissions.

He has no answer to where all the money has gone. But things went quickly at the end.

- Everyone took money from Envestio. They made payments on payments. One day there was no money left. Then the CEO disappears, Sergeyevs claims.