The disappeared Estonian XFinances OÜ d/b/a Isunext was part of the Latvian Racket and the operator or facilitator of numerous broker scams. The Estonian citizen Urmas Rooba informed us that he would not the beneficial owner of XFinances OÜ. On 15 Sept 2020, he allegedly sold 100% of XFinances OÜ to the Latvian Pavels Krasovskis. Until the moment of the sale, XFinances had developed no activity except that the company had been granted a virtual currency license.
Urmas Rooba remained a member of the board of XFinances, in addition to Pavels Krasovskis, because the Estonian law required that a company with a virtual currency license must also have at least a local resident as a member of the board. The Estonian crypto licenses of XFinances are no longer valid since July 2022.
On 29 Aug 2022, Urmas Rooba was confronted with a fraud complaint. Allegedly, his name and credentials have been used in a forged document open bank accounts for XFinances abroad. FinTelegram has been informed that Rooba will file a criminal complaint with the Estonian Police and will submit collected information to the Money Laundering Bureau, which operates at the Estonian Police.
