The notoriously renowned spearhead of payment processor firm, Crypto Capital, has been arrested by the Polish police as revealed by the news articles of the local media channels. Ivan Manuel Molina Lee, who serves as the President of Crypto Capital has been charged for money laundering and drug running.
According to the reports, Lee was held captive by the Polish cops in Greece and was later flown back to the native country for further proceedings. He has been accused of channelizing an international drug house and money laundering processes that involved the theft of funds primarily between Europe and Latin America.
The report affirms that Ivan has been the mastermind behind money laundering of nearly 1.5 billion zloty or about $390,000,000 from illicit activities. He is being blamed for transferring illegal funds from the firm’s account to numerous Poland banks from December 2016 to February 2018.
Polish authorities stated that Ivan’s illegal activities included “laundering dirty money for Columbian drug cartels using a cryptocurrency exchange.” The prosecutors further added that
The effort was a combined effort between Polisha 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.
Crypto Capital has been in the news recently for all the bad reasons as its name got highlighted in the Bitfinex crypto exchange scandal. Last year, QuadrigaCX crypto exchange, which now lies non-operational, alleged Crypto Capital for the loss of its assets when the platform faced critical withdrawal issues. Another crypto trading platform, Coinapult, also faced the same withdrawal problems. Now, with scandals involving big players like Bitfinex come into the light, Crypto Capital has now become the epicenter of all such legal investigations by the regulatory bodies. Apparently, Crypto Capital caused a loss of $850 million to Bitfinex.