Tag: btc

New Zeal& Police Seize $90M from BTC-e Owner’s Bank Account

Alexander Vinnik is currently in France’s custody, awaiting trial.

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The New Zealand police have sầu seized NZ$140 million (around $90.08 million) from the bank accounts controlled by Alexander Vinnik và his company Canton Business Corporation in the country’s largest money-laundering bust.

Vinnik previously operated in-famous cryptocurrency exchange BTC-e. Multiple global agencies opened investigations against the exchange for not maintaining any anti-money laundering (AML) controls và policies.

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BTC-e had allegedly facilitated a safe platform for criminals to exchange crypkhổng lồ for fiat, thus laundering funds obtained from a range of criminal activities including computer hacking, ransomware attacks, theft, fraud, corruption, và drug crime. According to authorities, at least $4 billion worth Bitcoins were traded in the Bitcoin exchange.

The massive bust by the New Zealvà police was a part of the global investigation into lớn the shady cryptocurrency exchange.

“New Zeal& Police has worked closely with the Internal Revenue Service of the United States to address this very serious offending,” New Zealand Police Commissioner Andrew Coster said in a press statement.

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“These funds are likely lớn reflect the profit gained from the victimization of thousands, if not hundreds of thousands, of people globally as a result of cyber-crime và organized crime.”

Countries fighting for Vinnik’s custody

Meanwhile, Vinnik was arrested in July 2017 in Greece under an extradition warrant from the United States. But with a tussle between multiple jurisdictions for his custody, he ended up in France last December.

He is likely to lớn face a trial in France for money laundering & extortion offenses and then might face the same in the United States court. If found guilty, he is looking at a maximum jail term of 55 years.

According khổng lồ the United States indictment, BTC-e was registered in the Seychelles Islands and website domains registered to shell companies in multiple jurisdictions.

The funds obtained in New Zealvà were seized under the country’s Criminal Proceeds Recovery Act and now a High Court will decide their fate.

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“The global criminal community need to understand New Zealand’s financial system, & companies established here, are not the places khổng lồ try to lớn hide illicit income,” the Police Commissioner added.