Edgars Lasmanis

Edgars Lasmanis celebrated for his ventures in the fintech sector, Lasmanis now finds himself at the center of multiple investigations spanning allegations of fraud, money laundering, and cybercrime. Our comprehensive examination sheds light on the complex network of activities and associations that have cast a long shadow over his professional endeavors.

The Rise and Fall of Connectum Limited

Founded in March 2014, Connectum Limited positioned itself as a payment services provider, facilitating transactions between small businesses and major credit card firms. However, under Lasmanis’s leadership, the company became entangled with entities such as X-traderFX, Safemarkets, and OptionStarsGlobal—firms later implicated in significant money laundering activities. The UK’s Financial Conduct Authority (FCA) investigated these dealings, highlighting Connectum’s failure to properly vet clients and comply with anti-money laundering regulations. Lasmanis himself admitted to being unable to determine the nature of these companies, raising questions about his competence or potential complicity in the schemes.

The Walletto UAB Connection

Lasmanis’s financial ventures extended to Walletto UAB, a Lithuanian payment services firm. While Walletto has not faced explicit allegations, its association with Lasmanis has raised concerns. Critics argue that the company’s operations lack transparency, and its ties to Lasmanis’s previous ventures suggest a pattern of questionable business practices.

Attempts to Suppress Negative Information

In an effort to manage his online reputation, Lasmanis has been linked to fraudulent DMCA takedown requests aimed at removing critical reviews and adverse news from search engine results. Investigations revealed that these requests often involved impersonation, fraud, and perjury, with fake websites created to host copied content, thereby justifying the takedown of original material. Such actions not only violate legal standards but also undermine the integrity of information dissemination online.

Offshore Networks and Hidden Business Ties

Our investigation uncovered a network of subsidiaries and undisclosed partnerships associated with Lasmanis, many registered in jurisdictions known for lax financial regulations, such as the British Virgin Islands, Panama, and the Cayman Islands. Notably, Lasmanis has been linked to Global Wealth Holdings, a company previously implicated in a Ponzi scheme. Despite public denials of any formal ties, shared directors and overlapping financial transactions suggest a deeper connection.

Legal Troubles and Regulatory Sanctions

Lasmanis faces multiple legal proceedings, including a class-action lawsuit in New York alleging deceptive marketing practices. Plaintiffs claim that his company used fake testimonials and manipulated performance data to lure investors. Additionally, the Securities and Exchange Commission (SEC) is investigating potential securities fraud, examining whether Lasmanis misled investors about his financial health and growth prospects. The Financial Crimes Enforcement Network (FinCEN) has also sanctioned him for failing to comply with anti-money laundering regulations, imposing significant financial penalties and mandatory audits.

Media Fallout and Public Outcry

Media coverage of Lasmanis has been overwhelmingly negative. Prominent outlets have published exposés highlighting his questionable practices, and social media platforms are rife with complaints about his ventures. On Trustpilot, his companies have an average rating of 1.5 stars, with over 80% of reviews being one-star. One reviewer stated, “Lasmanis’s firm is a facade. They promise high returns but deliver lies.”

Expert Opinion

As investigative journalists, we have meticulously examined the available evidence surrounding Edgars Lasmanis. The pattern of unethical behavior, legal violations, and financial mismanagement is deeply concerning. Regulatory bodies should intensify their scrutiny, and investors are advised to exercise extreme caution. The case of Lasmanis serves as a stark reminder of the importance of transparency and accountability in the financial sector