PAYZA BLOCKED ACCUSED FOR MONEY LAUNDERING

Updated: 03/23/2018 12:49
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payza domain blocked
Payza domain seized accusation by Department of Justice against the founders, Firoz and Ferhan Patel in operating illegal money transmitting business
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Payza domain seized accusation by Department of Justice against the founders, Firoz and Ferhan Patel in operating illegal money transmitting business

The US Department of Justice has put forward charges of providing unlicensed services against the Payza payment operator and its founders, Firoz and Ferhan Patel. According to law enforcers, with the help of the company, various financial pyramids and sites with child pornography processed more than $250 million in transactions. The domain of the official site of Payza was blocked by the Department of Justice.

It is noted that Ferhan Patel was arrested in Detroit, while his brother Firoz is currently on the wanted list. They were charged several times: "a conspiracy to organize an unlicensed payment company; conspiracy to launder money and management of an unlicensed money transfer business in the District of Columbia. "

It should be noted that although the government documents do not mention crypto currency, Payza has been working in this field since 2014, offering clients services for the sale and purchase of bitcoins. Subsequently, the company expanded the list of supported coins - last year the payment system announced the addition of a number of different altcoins, including Ethereum, Ripple, Litecoin, Dash, Monero and Zcash.

In addition, at the end of February, the company expanded the list again with Expanse, Steem, Viberate, tokenized Tether dollars and other altcoins, and in early March, Dash support also appeared.

As stated on the website of the Department of Justice, the Patel brothers "operated a money transmitting business without the necessary state licenses and knowingly transmitted funds that were derived from illegal activity from in or about March 2012 until the present."


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