Russian owner of bank based in Dominica made millions off insider trading tied to Trump Media – report

Anton Postolnikov

Russian/American owner of a bank based in Dominica is suspected to have made nearly $ 23 million through alleged insider trading involving former US President Donald Trump’s media company, the Miami Herald newspaper is reporting.

According to the Herald, this information is from federal court records. The report said that Anton Postolnikov is the owner of Paxum Bank, a bank based in Dominica that caters to the porn industry.

It said the alleged insider trading came to light last month in a New York securities fraud case brought last year against three men from Florida: Michael Shvartsman; Gerald Shvartsman, and Bruce Garelick.

“They are accused of making about $23 million from insider trades on the Trump Media merger with a Miami-based company, Digital World Acquisition Corp., and sharing non-public information with friends and business associates about the impending deal so they could profit, according to an indictment,” the Herald reported, Trump, who is leading the Republican nomination in his second bid for the White House, has not been accused of wrongdoing in the matter, according to the report.

“The startling revelations about Postolnikov were included in government documents filed by defense attorneys for Garelick and Michael Shvartsman in their efforts to get evidence collected by federal investigators thrown out of the case,” it said.

The Miami Herald went on to report that Postolnikov has not been charged with any crime but “FBI search warrant applications filed in the New York case show that federal agents were investigating his relationship with the three defendants and his trades on Digital World Acquisition’s stock before and after the announcement of its merger with
Trump Media in October 2021.”

It suggests that Postolnikov may be cooperating with the FBI to avoid prosecution.

“Former federal prosecutor David Weinstein said the fact that Postolnikov has not been charged and that his name appears unredacted in the FBI search warrant applications could suggest that he agreed to cooperate with prosecutors to avoid being prosecuted,” the report further said.

It also revealed that the alleged insider trades are not the only financial connection between Postolnikov and the Trump company.

“Dominica-based Paxum Bank, which public records show is controlled by Postolnikov, was reportedly the conduit of $8 million in loans to Trump Media, according to the Washington Post,” the report said.

“The money came from a mysterious entity called the ES Family Trust, which listed a Paxum Bank employee named Angel Pacheco as the trustee, according to the Post. The connection between Postolnikov and the loans was  also previously reported by the Guardian.”

In terms of Paxum Bank, the Herald reported that it “made a name for itself by processing payments for pornography websites.”

“A Paxum executive said in a 2021 interview that the company is ‘proud and happy to be considered the #1 trusted payment service for the adult industry!’” the report stated.

On its website, Paxum Bank stated it “is authorized and regulated by Financial Services Unit, Commonwealth of Dominica.”

It said its office is located at Centre Cross Lane in Roseau.

Click link below to the read full story from the Miami Herald.

https://www.miamiherald.com/news/politics-government/article284580595.html

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20 Comments

  1. April 4, 2024

    America is always a Saint country in the world like they never do these things. USA is hypocritical and GOD will deal with them.

  2. Former UWP supporter
    April 4, 2024

    Can UWP tell us why Dominica lost its visa free access to Canada? Too much hypocrisy. A mere report, no charges or anything but you baboons are cursing your country. Even if DLP is removed from office Dominica still has to grapple with trying to find investment in the financial markets and off course mighty USA and Europe will do all they can to destroy small island developing states like Dominica from gaining substantially from investments. Under UWP there was a striving offshore banking sector and it was destroyed both by our local people malapalaying it and the US and Europe.

  3. I want to know
    January 26, 2024

    Can someone please tell me what country in the world that Dominica is not part of a corrupt investigation the last 10 years? I am asking because I am lost and really need to know

    Well-loved. Like or Dislike: Thumb up 8 Thumb down 1
  4. OneLove
    January 26, 2024

    I wonder how much of that profit went into PMs account or paid to him in cash, if any?

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 1
  5. Dragon Den of Teef
    January 26, 2024

    😂 😂 😂 “Say it ain’t so” Dominica. Papa God! We need your help father. Deliver us from sin and the Evil 👿 one in suit and tie. Remove the curse we humbly pray. Wey papa, poor my little country.

  6. L C Matthew
    January 26, 2024

    The FIU should request permission to interview this guy see who in Dominica nay have been facilitating the criminal activities. Ferrol need to grow some balls. who took bribes, who earn income without filing proper taxes, who handled proceeds of crime.

  7. Ibo France
    January 26, 2024

    Dominica is a tiny, insignificant country in world affairs in terms of economic power, military might, trade, physical size and leadership. This being the case, why is it that Dominica attracts so many multi-millionaires and billionaires to its shores? The answer is as clear as a sunny, cloudless midday – CORRUPTION.

    Dominica has become the Mecca of corruption. It’s the best sanctuary, by far, for the most notorious and wealthy fraudsters on the planet. This once tranquil, little gem in the Caribbean, has metamorphosed into the axis of sin and evil.

    We have to change the evil, governing enterprise in order to change the south bound trajectory of the country. It’s all downhill right now.

    Well-loved. Like or Dislike: Thumb up 7 Thumb down 0
  8. Zandoli
    January 26, 2024

    Paxum Bank stated it “is authorized and regulated by Financial Services Unit, Commonwealth of Dominica.”

    Regulated? What a laugh. Nothing is regulated in Dominica.

    But on another note: How many shady people has the government been dealing with? These stories about devious characters and their relationship with the government of Dominica never stops. Every time one story dies, another one crops up.

    One of those days, when Skerrit is no longer in office, he is going to end up in an American prison.

    Well-loved. Like or Dislike: Thumb up 24 Thumb down 1
  9. Ibo France
    January 26, 2024

    I’ve heard this specific news item on a news outlet from another Caribbean island. It is emotionally painful and embarrassing for patriotic Dominicans to hear the name of their country being dragged through the mud ever so often.

    The saddest thing is, Dominicans sit back nonchalantly and watch their country spiralling out of control galloping to the abyss.

    For the scandals to cease and progress to be realised, the masses must wake out of their inertia, grab the bull by the horns, throw the incumbents out of office, and install (by democratic means) an ethical and visionary government.

    Well-loved. Like or Dislike: Thumb up 18 Thumb down 1
    • January 27, 2024

      And what has that got to do with any official in the Dominican Government? This is about insider trading by a private bank in a foreign country and they will have to answer to this issue. We have no stock exchange inDominica.The bank is located in Dominica, so what. American financial institutions are regularly accused of insider trading, is it shameful and embarrassing for Americans when this happens? You just continue with your idiotic rants……

      Hot debate. What do you think? Thumb up 1 Thumb down 7
  10. Ibo France
    January 26, 2024

    Under Roosevelt appalling ad profiteering stewardship, Dominica has become a magnet for international thieves, con artists, money launderers and outlaws.

    Dominica’s reputation has been severely sullied beyond repair. Almost everyday there is a next scandal of global proportion.

    The country needs a paradigm shift in governance. This means that the incumbent political party and its miscreants must be given their pink slip. Time for something different and wholesome. Time for Dominica to inhale a breath of fresh, clean, unpolluted air.

    Well-loved. Like or Dislike: Thumb up 17 Thumb down 4
  11. My Two Cents
    January 26, 2024

    Say what you want about the F.B.I. but this current iteration of law enforcers are not your legacy J Edgar Hoover desparados.They are a well oiled, tech savvy unit.

    I would hedge a bet that the evidence gathering phase of this case is already wrapped up with the public full unsealing of charges soon to follow.

    One thing is certain. Dominica can certainly do without this consequential bad publicity!

    Well-loved. Like or Dislike: Thumb up 12 Thumb down 3
    • January 27, 2024

      @my two cents, do you really understand this issue? What bad publicity are you talking about? Was any Dominica government or DLP officials involved in this insider trading scheme, the owner of the bank has not been charged. Investigating insider trading is nothing new to the FBI. Does Dominica have a stock exchange where insider trading can happen, your politics is quite obvious.

  12. lin clown
    January 26, 2024

    anything to throw thrump name into the bag yuh.

    trust the media to find a way to link trump into it . they are scared of him . the old polititions are scared of the changes he made and will continue to make if he wins next election.

    so anything to add trump name to a conspiracy . 8 years they been dragging his name threw the mud , but the american people are starting to see threw this . even DNO jumping on the band wagon.

    why you dont report on the Georgia woman that is prosecuting trump that is now being investigated from profiting from that investigation ILLEGALLY ?

    how about the black mayor that using city funds to run charity scams, pay for her campaigns and pay for trips and a lavish lifestyle her states attorney general is now investigating her. but u dont report on that

    doh worry the public is seeing that trump is the better person to run the country financially , and he has never been more popular in the polls .

    the smear campaign isnt working

    Hot debate. What do you think? Thumb up 6 Thumb down 24
    • me
      January 26, 2024

      @Lin clown
      You have a point there. DNO could even tell us of the Bidens corruption dealings with Burisma in Ukraine…but you are not a real man.You are a sycophant of a corrupt party, not a real man, your only role is seen as just to defend the undefendanle. So noone will take you seriously. Many people dont even read you comment.They jyst thumb you down!

    • dissident
      January 28, 2024

      and when Skerrit finally leave office de world will end and all life will cease right?
      some people are better understood by the friends that they keep and fight to protect above everything else
      He who laughs last must laugh de best after dat glorious time for sure
      but for now de chips must fall…….you can’t clean nor protect de CBI record
      As for Thrump who you rooting for …..fortunately for me I have had first-hand experience.
      Imagine……COVID-19, Israel-Hamas, Climate change, ABC class, Yemmen and Houthis, 3-year-old Trans, fake world boss starboy of stupidity……Thrump fits perfectly in dat
      all empires ultimately fall

  13. Trucker
    January 26, 2024

    On its website, Paxum Bank stated it “is authorized and regulated by Financial Services Unit, Commonwealth of Dominica.”

    can u imagine that.. a money laundering conduit appears to be well regulated and authorized by the FIU in Dominica? Law enforcement..my God

    Well-loved. Like or Dislike: Thumb up 16 Thumb down 2
    • derp
      January 26, 2024

      Most banks are money launderers if you have enough money to keep them quiet some of them even do it themselves. They simply pay the fine and act like nothing happened. I’m not condoning this practice btw

      https://www.enzuzo.com/blog/biggest-aml-fines

    • Man Man.
      January 26, 2024

      FSU not FIU……FSU is the regulator . FIU is the investigatory arm with a view to prosecute.

    • January 27, 2024

      @Trucker, there are many money laundering conduits in world and business goes on as usual. An employee of Goldman Sachs, one of the biggest investment banks in America was found guilty of insider trading just last December and there are many more. In 2019 Standard Charter Bank(US) fined $1.1 billion for money laundering, 2020 JP Morgan was fined $920 million for money laundering. The list is long for the American banks involved in insider trading and money laundering.

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