WILLEMSTAD – The Central Bank of Curaçao and Sint Maarten (CBCS) says it is ‘taking the necessary measures’ against the Carmanco NV trust office, which has once again been discredited as a director of a company that offers illegal online gambling games.
Carmanco is a subsidiary of Curaçao Trust Management NV that has a license from the CBCS to offer trust services.
Two weeks ago, Curaçao-based Cyberrock NV received a fine of 350,000 euros from the Dutch Gaming Authority (KSA). It is not the first time that a customer of Carmanco is fined by the Dutch gaming authorities. In 2015, director George Praag received an official warning from the KSA. He then promised improvement.
Now that Carmanco has been caught again to facilitate a customer who engages in illegal activities, the CBCS says it has had enough. Another factor is that Carmanco was convicted in another case by the judge in Willemstad earlier this year for ‘improper management’ and ‘seriously blameworthy and therefore unlawful action’.
“Under the CBCS Policy Rule on Integral Operations in Incidents and Integrity-Sensitive Functions, a supervised institution must inform the Bank of its own accord and without delay about the incidents that have occurred. The Bank has taken note of the information regarding Carmanco N.V., an entity that provides management services under the responsibility of a license holder and will take the necessary measures “, according to a spokesman for the CBCS.
From his reaction, it can be concluded that Praag – whose name also appeared in the Panama Papers – failed to inform the Central Bank of the latest incidents.
The KSA says that a new warning is not obvious. “It seems indeed that Carmanco does not follow the promise made earlier. This is a bad thing for Dutch consumers in particular. They are now not protected. The KSA is considering other steps.
“In the past, the KSA strongly advised trust offices to reflect on their services to gambling companies. This advice is still valid. The KSA has good contacts with the competent authorities in Curaçao. “We aim to work together in the future against illegal online gambling.”
By Rene Zwart
Kingdom Relations Reporter
Bron: CuracaoChronicle
Naschrift KKC
In 2018 en later, in 2020 zouden Egaming trustkantoor Carmanco (oprichter van o.a. 1xCorp) en gaming licentiehouder Cyberluck (Curacao Egaming) voor dergelijke handelingen door respectievelijk de rechtbank en later het Hof bestuurlijk en hoofdelijk verantwoordelijk worden gehouden voor schade.
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