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HSBC in the United Kingdom led the United Kingdom to administration last year after discovering that it had received hundreds of millions of dollars from a network of companies associated with countries like Serbia, whose names often seemed to the names of large and well -known companies.

London’s Supreme Court documents obtained by Financial Times showed that HSBC claimed that STENN received money from similar names to “blue -scent companies”, such as the Electronics Foxconn Group, but that was not related to the larger companies. Millions were also received from a company owned only by a village in a remote area of ​​China.

The documents were the new light on the events that led to the collapse of STENN, which specialized in financing the invoice, once boasting about 900 million dollars and partnerships with international banks such as Citigroup. Information raises more questions about overseeing a company organized by the financial behavior authority for anti -money laundering purposes.

STENN put the UK’s two units in the administration in December after its request to the London Supreme Court from HSBC Innovation Bank, the former Silicon Valley Bank, which was one of the Fintech lenders.

FT mentioned previously that the reference to Sixty in an American criminal indictment About the Russian money laundering scheme pushed HSBC to start searching for possible transactions. Sixty was not mistaken in the case.

In a written submission to the court, HSBC lawyers stated that he had issued a default on a $ 35 million loan to STENN after the investigation was discovered that “the payments did not make large companies that were called bills.”

“Instead, the companies that were combined in countries like Serbia that have no links to the blue chip companies called bills and often fail to provide any accounts before they are placed in forced liquidation by the organizers,” HSBC lawyers wrote. In claiming that “there can be no perceived explanation or justification” for transactions.

Serbian companies include companies with similar names for the largest oil company in Spain and Hon Hai Precision, the Taiwanese electronic manufacturing works known as Foxconn.

These Serbian companies also included a company with a name similar to a Singapore -based technology group. All companies have links with two toxic Serbian people in the document and all three companies were placed in “mandatory liquidation”, as HSBC lawyers claimed the documents.

“It seems unlikely that the manufacturer of the components of the Taiwanese electronics, the Singaporean technology company and the Spanish multinational energy company are all group companies characterized by” the Serbian individual himself as a manager, which are written arguments HSBC, noting that either of the three individual seems to be the large groups they have Serbian affiliated.

STENN also received payments from “Zalando SE Limited” founded in Hong Kong, and the manager and shareholder “has no links with Zalando SE” in Germany. He stated that the German retail seller online “has no operations at all in Hong Kong.”

One of the managers of Zalando SE Limited was the director of Green Bean Trading Limited, another company in Hong Kong that paid $ 1.6 million to STENN’s Bank with Citigroup. Green Bean’s only contributor was a member of Liaoning County, China.

“This address appears to be a remote village in China, consisting of very small housing,” according to the bank’s court. “It seems unlikely to have a legitimate company that makes large payments one shareholder in a small rural village.”

HSBC claimed that STENN’s bills issues were “wide and regular”, noting that the total value of the bills that I laid in 2023 and 2024 exceeded $ 220 million.

STENN did not oppose the HSBC file and the two main UK units were placed in management on the same day. STENN official wrote in a report earlier this month that he was aware of “allegations related to potential violations before insolvency.”

Sixty founder and CEO Greg Carpeovsky participated previously at the Russian bill financing company, which later collapsed amid fraud allegations.

Carbovsky told December that he denied “any violations in relation to STENN”, while “any potential violations” in his former Russian work “had proven that it had occurred long after I left the company.”