The operators of Bitfinex claim that the cryptocurrency exchange is a victim of fraud dedicated by its payment processor Crypto Capital. The guys behind Crypto Capital now deal with charges associated to cash laundering in Poland and the U.S.
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Crypto Capital Leadership Accused of Money Laundering
Crypto Capital is a payment processor that managed funds for and on behalf of Bitfinex for numerous years according to public court files. The cryptocurrency exchange implicates Crypto Capital of triggering it to lose hundreds of millions of dollars.
On Thursday it was reported that the payments processor’s president, Ivan Manuel Molina Lee, was extradited to Poland from Greece to response charges associated to cash laundering. Another principal of the business, Oz Yosef, was prosecuted on 3 criminal counts by the U.S. Attorney for the Southern District of New York on Wednesday.
Bitfinex has actually released a declaration on the matter, stating that it was not associated with cash laundering which it has actually been lied to by Crypto Capital agents consisting of Molina and Yosef. Bitfinex claims that Crypto Capital incorrectly referred to its stability, banking proficiency, robust compliance program and monetary licenses to assure it was capable of dealing with the business’s deals.
International Legal Saga
According to media reports from Poland, the claims versus the president of Crypto Capital consist of laundering funds for a worldwide drug cartel from Colombia by means of Bitfinex and moving them to Polish savings account. The reports reference that detectives discovered that from December 2016 to February 2018 roughly PLN 1.4 billion (United States $360 million) was moved to these accounts, which have actually been taken by authorities.
“Bitfinex is the victim of a fraud and is making its position clear to the appropriate authorities, consisting of those in Poland and the United States,” specified the business’s basic counsel Stuart Hoegner on Friday. “We cannot discuss Crypto Capital’s other customers, however any idea that Crypto Capital washed drug profits or any other illegal funds at the wish of Bitfinex or its consumers is unconditionally incorrect. This week’s advancements not do anything to impact or otherwise hinder Bitfinex’s claims to funds in Poland or anywhere else. We will continue to work to recuperate all funds for and on behalf of our stakeholders.”
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