Mt.Gox Stolen Funds Linked with “Money Laundering” Shell Companies

On 7 March, unofficial investigations into money laundering at the former Mount Gox cryptocurrency exchange claimed that a British “shell company” was involved in the laundering of 650,000 BTC (about $6.9 billion at the time of the press).

According to a presentation by File On 4, a programme broadcast on the BBC’s Radio 4 news and public affairs channel, Always Efficient LLP was involved in processing stolen funds from the Tokyo exchange.

Also the focus of the FBI’s ongoing operation, Always Efficient LLP alleges to be based in London, but its address is “shared by several other companies” and “likely to be a shell blank,”said Duncan Hames of the anti-corruption group Transparency International to the broadcaster.

“People laundering money will set up a network of companies to create layers between the original crime and their attempts to then integrate the proceeds of their crime into the economy,” he claimed.

Meanwhile, the bankruptcy trustee and bankruptcy lawyer of Mount Gox Nobuaki Kobayashi has reportedly sold more than $400 million worth of BTC assets since September 2017 with the aim of crediting customers who lost funds during the hacker attack.

intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitration still works like a charm, if you do it right! Check out Bitsgap, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Rene Peters

Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

We will be happy to hear your thoughts

Leave a reply

CaptainAltcoin
Logo