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.
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