AB Crypto Project Pursued Resort With Sanctioned Figures

The AB crypto project pursued resort plans near Dili, Timor-Leste, before the company said its agreement was canceled in November. An investigation by OCCRP and Guardian Australia found that three people later sanctioned by the U.S. Treasury had been involved in the resort company. It found no evidence that AB was directly connected to The Prince Group or that illicit funds flowed into the project. AB had promoted a 300,000-square-meter “blockchain theme resort” stretching toward the sea near Timor-Leste’s capital. The nonprofit behind AB was to receive between five and 10 percent of future profits.

Source: BlockTelegraph