Copy link
Increase text size
Decrease text size
Link copied

Crypto Capital president arrested by Polish authorities on accusations of money laundering for the Columbian Cartel

Crypto Capital president Ivan Lee arrested by Polish authorities on the grounds of laundering money for the Columbian Cartel, which reportedly amounts to $390,000,000.

Photo via Unsplash

Fri, 25 Oct 2019, 09:24 am UTC

Crypto Capital and Bitfinex have been embroiled in a massive scandal involving hundreds of millions of dollars being moved illegally through various channels. Now, authorities have apprehended Crypto Capital president Ivan Manuel Molina Lee on grounds of money laundering.

The arrest was spearheaded by several entities including Polish authorities, Interpol, Europol, and the U.S. Drug Enforcement Agency. The involvement of the DEA stems from accusations that the laundered money came from profits of the Columbian Cartel that uses cryptocurrency to move massive funds.

“This the largest effort by Polish prosecutors to secure losses associated with illegal activity. The effort was a combined effort between Polish and international special forces. The proceedings were conducted by prosecutors from the Lower Silesian Branch of the Department for Organized Crime and Corruption of the National Prosecutor’s Office in Wrocław and officers who closely cooperated with Europol, Interpol and US services, including the DEA,” Polish prosecutors wrote following the arrest.

The arrest comes days after Bitfinex’s subpoena filing

The laundered funds are estimated to reach 1.5 billion zloty ($390,000,000), which is apparently a massive deal for Polish prosecutors on account that it’s the largest security seizure of the office. As previously mentioned, Crypto Capital was already in deep waters before the arrest as it’s connected to the shadow banking scandal that is catering crypto exchanges to mask unregulated transactions, Yahoo reported.

The arrest also comes days after Bitfinex filed for a subpoena to recover $880 million that Crypto Capital owes. The company is Bitfinex’s payment processor and has been working together since 2014. Crypto Capital maintains that it cannot return the $880 million on account that the fund was frozen by authorities amidst an ongoing investigation, Decrypt reported.

Bitfinex, Tether, and Crypto Capital’s dubious activities

Bitfinex, however, argues that the company scattered its money through multiple banks to hide it from authorities. Lee’s arrest will undoubtedly further postpone Bitfinex claims as the company scrambles to douse the fire that has been spreading.

Bitfinex’s relationship with Crypto Capital itself is dubious enough already since banks have cut ties with the former after uncertainties started sprouting surrounding the Hong Kong-based crypto exchange. What’s also interesting about all of this is that Tether recently minted $30 million USDT and moved the coins to Bitfinex.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.07.20 13:32:09
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all ...............................................................................................................
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $10,922.50 (+1.26%)
  • Ethereum (ETH) $359.11 (-0.06%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $229.93 (+3.20%)
  • Binance Coin (BNB) $26.55 (-0.16%)
  • Bitcoin (BTC) $10,922.50 (+1.26%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft