Bitfinex renews efforts to recover 880 million in user funds that have vanished! Bitfinex renews efforts to solidify ownership claims on funds that were the result of misconduct on the part of Crypto Capital, a company that provides banking services to crypto exchanges.
iFinex Inc., Bitfinex’s parent company, applied for subpoenas in Arizona, Colorado, and Georgia, requesting the help of the federal courts to help depose the banks in the aforementioned states. Banks include ABT & Trust, Bank of Colorado, and SunTrust Bank Georgia.
iFinex submitted these subpoenas in the hopes that the banks will be forced to show how money from Crypto Capital accounts were moved to different accounts – providing a picture as to how the $880 million dollars went missing. A federal judge has granted iFinex’s application in Arizona, while a magistrate in Georgia has asked iFinex to file a corporate disclosure.
Crypto Capital, in the meantime, is in deep trouble. It is not exactly clear as to whether or not the company is still operating – however, back in October of last year, two Crypto Capital employees with principal roles were arrested.
Ivan Manuel Molina Lee, Crypto Capital’s president, was arrested by Polish authorities – he is accused of laundering money from Columbian drug cartels through a digital currency exchange. Oz Yosef, Crypto Capital’s principal, was indicted on three criminal counts – conspiracy to commit bank fraud, bank fraud, and conspiracy to operate an unlicensed money transmitting business.
The big question is – what next? It all depends on what the judges’ decisions are in regards to iFinex’s applications to subpoena.
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