Crypto Capital
| Crypto Capital | |
| Headquarters | Panama City, Panama |
|---|---|
| Key People | Ivan Manuel Molina Lee, President |
| Products | Bitcoin and other cryptocurrency financial services |
| Website | cryptocapital.co |
Crypto Capital is a Panama-based non-bank entity at the center of the Tether/Bitfinex scandal in which $850 million went missing and undisclosed, according an injunction sought by the New York Attorney General in April 2019.[1]
Crypto Capital is owned by Global Trade Solutions AG ("GTS").[2] Crypto Capital's website says that GTS is a member of and regulated by the Swiss "SRO ARIFF [sic]" (ARIF is the abbreviation for the Association Romande des Intermediares Financiers), which is recognized by the Swiss Financial Market Supervisory Authority as a self regulatory authority for asset managers. ARIF "is open to any non-banking financial intermediary acting in Switzerland." [3]
The Crypto Capital website also indicated in May 2019 that it still provided services for the by then defunct Canadian cryptocurrency exchange QuadrigaCX that had been put into bankruptcy by the Nova Scotia Supreme Court.[4]
According to an April 30, 2019 announcement, Ravid Yozef, an Israeli national, and Reginald Fowler, an Arizona resident, were charged by the Department of Justice for making fraudulent representations in relation to banking transactions with Crypto Capital.[5]
According to reports by Polish news services in late October 2019, police in that country arrested Molina Lee, president of Crypto Capital, on accusations of illegally laundering about $390 million worth of Polish zloty. He was turned over to Polish police by Greek authorities who had detained him. According to CoinDesk, Polish authorities said that Molina Lee had engaged in “laundering dirty money for Columbian drug cartels using a cryptocurrency exchange.”[6]
References
- ↑ U.S. DOJ Moves to Detain Defendant in Crypto ‘Shadow Banking’ Case. CoinDesk.
- ↑ Website. Crypto Capital.
- ↑ Website. Association Romande des Intermediares Financiers.
- ↑ Website. Crypto Capital.
- ↑ Arizona Man And Israeli Woman Charged In Connection With Providing Shadow Banking Services To Cryptocurrency Exchanges. Southern District of New York, U.S. Attorney's Office, Department of Justice.
- ↑ Polish Police Arrest Head of Payment Processor Tied to Bitfinex Crypto Exchange. CoinDesk.
