Head of Crypto Payment Company Arrested For Laundering Money For Drug Cartels

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Ivan Manuel Molina Lee, the president of Crypto Capital, was arrested in Poland for crimes that include laundering millions for Columbian drug cartels. As detailed in UnTethered: How The Entire Crypto Bull Run of 2017 May Have Been a Mirage (And Why Its Resurgence May Be Too), Crypto Capital served as a major bank/payment processor for a murky cryptocurrency exchanged called Bitfinex.

Last year Bitfinex discovered that Crypto Capital had “lost” $851 million of the funds it was holding for Bitfinex customers supposedly by governmental seizure. At the time, Crypto Capital said that authorities in Poland, Portugal, and the United States were responsible.

A Polish newspaper seems to partially confirm that. $391 million was seized by Polish authorities, the newspaper says, thanks to cooperation with Europol, Interpol and US services, including the DEA.

Last modified: October 26, 2019

Category: cryptocurrency


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