Crypto Capital operator admitted in many cases of fraud – Bits Media

Co -founder and operator of Crypto Capital, engaged in the provision of cryptocurrency firms for access to banking services, found himself guilty in many cases of fraud.

The court documents say, that Reginald Fowler (Reginald Fowler) Recognizes yourself guilty of banking fraud, conspiracy with banks, management of unlicensed business transfer business, conspiracy with the aim of managing an unlicensed business transfer and fraud using electronic means. The verdict of the former operator Crypto Capital will be announced in August this year.

Crypto Capital was founded in 2013 year and registered in Panama. She was engaged in providing access to cryptocurrency companies to banking services - at that time an extremely small number of banks worked with such companies. But, According to American law enforcement agencies, Speaking a "layer" between banks and cryptocurrency companies, Crypto Capital allowed them to bypass regulatory requirements for counteracting revenue launders.

According to American prosecutors, Fauler and other operator of Ravid Joseph (Ravid Yosef) Discovered around 60 bank accounts, The total amount of funds on which is $345 million.

The company's clients were Kraken cryptocurrency exchanges, Binance и QuadrigaCX, And the largest client is the Bitfinex site. In October 2018 year the exchange could not access $850 million, which were temporarily stored in Crypto Capital. To cover the loss of Bitfinex, I had to "borrow" funds from the operator stablecoin Tether. After that, the American authorities began an investigation and the companies had to pay $18.5 Military fine to resolve the situation.