Oz Yosef – a Crypto Capital executive – has received 3 legal charges from the US Attorney for the Southern District of New York. 

Specifically, on October 23, the U.S. authorities have officially accused Yosef of the following criminal charges: conspiracy to commit bank fraud, bank fraud and conspiracy to run an unauthorized money transmitting company. 

The final court order would prove the accusations from a previous legal complaint from Bitfinex to be true – as it formerly claimed to be a victim, suffering from fraud crimes of its payments process service provider. 

On April 25, the New York Attorney General’s office accused the crypto firm of manipulating the crypto industry, by illegally borrowing funds from Tether –  its affiliated stablecoin – to cover up to $850 million worth of financial damage. 

Bitfinex claimed Crypto Capital intentionally broke down its funds and kept in numerous different countries, giving the exchange a hard time accessing its money.

Bitfinex also revealed Crypto Capital has been the payment processor in charge of handling its money for a long time, and that the crypto exchange is dependent on its presentations, including the ones given by Oz Yosef – which has been rendered false following recent events. 

“Among those misrepresentations, Crypto Capital regularly referred to its integrity, banking expertise, robust compliance programme and financial licences. This was designed to assure us that Crypto Capital was capable of handling Bitfinex’s transactions.”