Pattaya Cash Stash

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jackspratt
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Pattaya Cash Stash

Post by jackspratt » June 3, 2022, 2:07 pm

Another Aussie making his way in the seedy underbelly of LOS.
A WA businessman who runs multiple Thai nightclubs and bars has been stripped of more than $4 million in cash and assets after an offshore international money laundering and tax fraud investigation.

The two-year-long probe into Nick Ivanina was sparked in 2020, when the AFP-led Criminal Assets Confiscation Taskforce (CACT) received a tip-off about suspicious international money transfers between bank accounts in WA and Thailand.

Most of the 60-year-old’s funds were in Australian and Thai bank accounts, which were listed under the names of various companies as well as a relative and a business associate of the man.

Mr Ivanina is understood to run the popular Thai nightclub, Club Insomnia — a venue in Pattaya City in Thailand’s Bang Lamung District.

Other venues connected to the club include iBar, New York Diner, and iSalon. All four businesses are locating on Walking Street, near the water at Pattaya bay..........
https://thewest.com.au/news/crime/nick- ... -c-7038255



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Bandung_Dero
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Re: Pattaya Cash Stash

Post by Bandung_Dero » June 3, 2022, 3:16 pm

Wow what a super (alleged) criminal. Investing $4 mill of his "superannuation" in Thailand, Jack we both know a guy who has spent more than that here.
when the AFP-led Criminal Assets Confiscation Taskforce (CACT) received a tip-off about suspicious international money transfers between bank accounts in WA and Thailand.
Some 2 pot agency needing a "tip off" to pester a guy for 2 years = what a waste of tax payers funds! IMHO, smells of corruption the scale of which we only see here in Thailand!
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pepesgrill
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Re: Pattaya Cash Stash

Post by pepesgrill » June 3, 2022, 4:25 pm

very dodgy ( upstart investigative unit) the guy not
charged with any crime, no mention of illicit drugs
only civil burden of proof. and seize all his cash

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tamada
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Re: Pattaya Cash Stash

Post by tamada » June 3, 2022, 6:54 pm

While the father of two has not been charged with a criminal offence, Ivanina was unable to explain where the wealth had lawfully come from which led to him agreeing to forfeit the money and assets under the Proceeds of Crime Act.

The law allows for a civil standard of proof and can operate where there is no related criminal prosecution.


https://www.watoday.com.au/national/wes ... 5aqn8.html

Q. If it was legally his money, why couldn't he explain it and why did he agree to surrender it?

A. Because it wasn't his money.

Epic money laundering fail. He 'owned' a string of Prime Walking Street night clubs? Some Thai 'businessmen' will not be too happy at having their 'savings' taken away and I guess he won't be coming back to Thailand any time soon either.
You don't have to be afraid of everything you don't understand.

pepesgrill
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Re: Pattaya Cash Stash

Post by pepesgrill » June 3, 2022, 7:15 pm

eh , this investigative fraud agency only seized a
total of 15 mil in their 3 yr existence. the simple
fact guy had clubs probably sent heads spinning

maybe he's guilty. of running clubs in thailand?
that generated cash? and sending it back home

glalt
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Re: Pattaya Cash Stash

Post by glalt » June 4, 2022, 9:32 am

I learn something new every day. I wasn't aware that making money in Thailand was against the law.

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jackspratt
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Re: Pattaya Cash Stash

Post by jackspratt » June 4, 2022, 9:50 am

Australia is hardly the only country with Unexplained Wealth confiscation laws.

https://learn.baselgovernance.org/mod/d ... hp?id=2033

Simple explanation - if you are a known crook, you probably don't want to be stashing your illicit cash in your own name.

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tamada
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Re: Pattaya Cash Stash

Post by tamada » June 4, 2022, 10:04 am

jackspratt wrote:
June 4, 2022, 9:50 am
Australia is hardly the only country with Unexplained Wealth confiscation laws.

https://learn.baselgovernance.org/mod/d ... hp?id=2033

Simple explanation - if you are a known crook, you probably don't want to be stashing your illicit cash in your own name.
Agree. I think that's amply covered in the Dummies Guide to Boiler Rooms as well.
You don't have to be afraid of everything you don't understand.

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