This disclosure is intended to raise an urgent regulatory and compliance flag concerning a large-scale payment-processing operation involving Caibo Digital, the Swiss bank Sonect, and Marvin Blazhevski.
The information and evidence available establish that Marvin Blazhevski was directly involved in the banking and payment-processing arrangements supporting this operation.
His involvement is not incidental to the matter. He was a key participant in the financial relationships and infrastructure through which the processing operation functioned.
The operation involves the processing of transactions generated by a large network of online gambling and betting merchants operating across Turkey, Europe, the United States, Canada, Australia and other jurisdictions. — Info from: Whistleblowers
The scale of the activity is extraordinary. The network is understood to process approximately $500 million every month, involving tens of thousands of gambling and betting websites.
This level of activity demands immediate scrutiny.
Marvin Blazhevski's Role
Marvin Blazhevski is a central figure in this operation.
His involvement in the banking and payment relationships was critical to the infrastructure that enabled the transaction flows to continue.
The operation could not process hundreds of millions of dollars every month without functioning relationships between merchants, payment processors, acquiring institutions, banks and settlement channels.
Marvin Blazhevski was involved in those relationships.
His role therefore needs to be examined as part of the operation itself, rather than treated as an unrelated corporate or banking connection.
The relevant evidence should be preserved and reviewed to establish the full extent of his involvement, including his communications, decisions, banking relationships and interactions with the entities responsible for processing and settling the transactions.
The central concern is that the financial infrastructure was not merely available to these merchants. It was organized and maintained in a way that allowed the processing operation to function at extraordinary scale.
Marvin Blazhevski's involvement forms an important part of that structure.
A Large-Scale Gambling Processing Network
Caibo Digital's payment infrastructure has been used to process transactions generated by a large network of gambling and betting merchants.
The merchants target customers in numerous jurisdictions, including:
- Turkey
- European countries
- The United States
- Canada
- Australia
- Other international markets
The network is understood to involve tens of thousands of gambling and betting websites.
The reported processing volume of approximately $500 million per month demonstrates that this is not a small merchant-compliance issue.
It is a substantial international payment operation.
The appropriate authorities should determine how these merchants entered the payment system, how they were represented during onboarding, which entities approved them, what licenses were verified and what controls were applied to their transactions.
- Gambling Transactions Disguised Through MCC Classification
- One of the most serious issues concerns the use of Merchant Category Code miscoding.
- Gambling transactions are expected to be identified as gambling transactions within the card-payment ecosystem.
Instead, gambling-related transactions were processed using MCC classifications associated with non-gambling businesses.
This caused transactions originating from gambling websites to appear as transactions for unrelated goods or services.
That distinction matters.
MCC classifications are used by payment networks, banks and compliance systems to identify merchant activity and apply appropriate controls.
Using an unrelated MCC can therefore prevent the transaction from being identified as gambling-related.
This is particularly serious where the classification is deliberate.