Crypto Capital Executive Indicted in NY Court
- Oz Yosef has been indicted for conspiracy to commit bank fraud, bank fraud, and conspiracy to operate an unlicensed money transmitting business.
- The company’s president, Ivan Manuel Molina Lee, has also been extradited to Poland on money laundering charges and suspicion of being part of an international drug cartel.
Judge’s gravel and books. Freepik
Crypto Capital’s executive Oz Yosef has been indicted on three criminal counts by the United States Attorney for the Southern District of New York.
According to court documents, the three criminal counts Yosef has been indicted for being conspiracy to commit bank fraud, bank fraud, and conspiracy to operate an unlicensed money transmitting business.
The documents also appear to confirm Bitfinex’s allegations that it fell victim of fraud to its former payments processor.
Last Thursday Ivan Manuel Molina Lee, Crypto Capital’s president, was extradited to Poland on charges of money laundering and allegations of being involved in an international drug cartel.
The very next day Bitfinex released a statement claiming that any allegations that their former payments processor laundered illicit funds on its behalf were “categorically false”.
The cryptocurrency exchange has also claimed that the $850 million lost were spread across multiple bank accounts in several countries by Crypto Capital.
The loss of those funds also sparked an investigation by the New York Attorney General’s office, which claims that Bitfinex used Tether funds to cover up its mess.
The court documents also list assets belonging to Reginal Fowler, a Crypto Capital principal, who was indicted by the Department of Justice back in May, for running a shadow banking service.
The court has also listed Trade Solutions LLC, the parent firm of Crypto Capital, Eligibility Criterion, Eurocontrol, and Spiral Global Development.
- The exchange targets small and medium-cap companies, offering access to innovative financial products.
- Bitfinex launched the platform in a regulatory sandbox environment in Kazakhstan.
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- After settling with the Office of the New York Attorney General, Bitfinex and Tether were ordered to introduce transparency measures.
- Alongside a hefty fine, the companies will have to ensure the OAG that their corporate and client accounts remain segregated.
- The addition asserts Bitfinex’s intentions of expanding into the crypto-derivatives market.
- The inclusion of the new crypto derivatives contracts comes after last month’s listing of Europe 50 and Germany 30 perpetual swaps, offering exposure to established equity markets.