Crypto
Home›Crypto›Regulation›Prosecutors seek $84.2 million from bank tied to Tethe…
Prosecutors seek $84.2 million from bank tied to Tether payments
A civil forfeiture complaint alleges the funds moved through accounts used for Tether payment processing, including a $79.1 million transfer from a Wells Fargo Securities account on Sept. 14.
Federal prosecutors are seeking to keep $84.2 million seized in a civil forfeiture case tied to accounts used to process payments for Tether, according to a civil forfeiture complaint reviewed by Decrypt.
The complaint, filed July 15 in the Eastern District of California, targets Capstone Ltd., a Montana-based payments firm accused of operating as an unlicensed money transmitter in at least six states and presenting itself to banks as an IT services company.
According to the filing, the $84.2 million at stake includes $79.1 million that came out of a Wells Fargo Securities account in Capstone's name on Sept. 14.
Decrypt reports that the complaint names Capstone owners Kotaro Shimogori and Mary Jeanne Thompson, and says an FBI search warrant was executed at a Sacramento residence, while the firm's attorney said the company denies wrongdoing and hopes to resolve the matter quickly.