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Global fintech Paxum and Hungarian bank OTP caught up in Romanian fraud probe

By Matei Rosca 8 min

Canada-based and offshore haven-linked Paxum Inc was defrauded of some $16 million from an OTP Bank account in Bucharest, but prosecutors allege broader financial crimes surrounding the case. Paxum, which operates through a shell company in Belize and a bank out of Dominica, specializes in payments which are legal but seen as higher risk by other financial technology companies — such as…

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European development bank mired in Moldovan legal drama

By Matei Rosca 0 min

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