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
Pattaya Cash Stash
- jackspratt
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Pattaya Cash Stash
Another Aussie making his way in the seedy underbelly of LOS.
- Bandung_Dero
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- Location: Ban Dung or Perth W.A.
Re: Pattaya Cash Stash
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.
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!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.
Sent from my 1977 Apple II using 2 Heinz bake bean cans and piano wire!
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Re: Pattaya Cash Stash
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
charged with any crime, no mention of illicit drugs
only civil burden of proof. and seize all his cash
Re: Pattaya Cash Stash
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.
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.
'Don't waste your words on people who deserve your silence'
~Reinhold Messner~
'You don't have to be afraid of everything you don't understand'
~Louise Perica~
~Reinhold Messner~
'You don't have to be afraid of everything you don't understand'
~Louise Perica~
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- udonmap.com
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Re: Pattaya Cash Stash
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
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
Re: Pattaya Cash Stash
I learn something new every day. I wasn't aware that making money in Thailand was against the law.
- jackspratt
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Re: Pattaya Cash Stash
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.
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.
Re: Pattaya Cash Stash
Agree. I think that's amply covered in the Dummies Guide to Boiler Rooms as well.jackspratt wrote: ↑June 4, 2022, 9:50 amAustralia 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.
'Don't waste your words on people who deserve your silence'
~Reinhold Messner~
'You don't have to be afraid of everything you don't understand'
~Louise Perica~
~Reinhold Messner~
'You don't have to be afraid of everything you don't understand'
~Louise Perica~