The U.S. Department of Justice announced Tuesday that it has hit two individuals with bank fraud charges in connection to a system for depositing funds to cryptocurrency exchanges.
In a statement, U.S. Attorney's Office for the Southern District of New York alleged that Reginald Fowler of Arizona and Ravid Yosef, said to live in Tel Aviv, Israel, were part of a scheme that involved using bank accounts to move money into a series of unnamed cryptocurrency exchanges.
Court documents released by the Justice Department purport that the alleged money services business operated between February and October 2018. During that period, prosecutors say, the two "opened and used numerous bank accounts at financial institutions that were insured by the [FDIC]," including one based in Manhattan.
Two Charged With Running 'Shadow Banking' Service for Crypto Exchanges
AAF's initial lead investor is charged with bank fraud
(Score: 0) by Anonymous Coward on Friday May 03 2019, @05:36PM
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