A new report by the Wall Street Journal alleges that Tether accessed global banking accounts through crypto firms that used fraudulent documents and shell companies.
Investigations by the Wall Street Journal revealed that Tether accessed the banking system by opening accounts under different corporate names whose executives bore slightly different names to established executives.
Tether Turkish Account Had Terrorist Ties
According to documents reviewed by the Wall Street Journal, Taiwanese accounts were opened under the name of a company called Hylab technology.
One account in Turkey was opened in the name of a firm called Denix Royal Dis Ticaret Limited Sirketi. Following a 2020 crackdown, the U.S. Justice Department alleged a terrorist group used the account to launder funds. According to the DoJ, the group transacted $80 million with the account as part of an initiative to convert crypto donations into cash. The terrorists allegedly also used an account at the crypto exchange Bitfinex, Tether’s sister company.
Another company, Crypto Capital, opened accounts for crypto firms, including Bitfinex and Tether, in the name of several shell companies. These accounts became money transmitter businesses for crypto firms, but U.S. authorities later seized their assets.
New York-based Signature Bank closed an account in the name of a Tether part-owner Christopher Harborne after it realized the account was related to Bitfinex.
Tether'e göre, iddialar by the Wall Street Journal were “wholly inaccurate and misleading.” On the other hand, Crypto critic Molly White said that the WSJ couldn’t have made “this stuff up.”
Source: https://beincrypto.com/tether-partners-used-fraudulent-docs-access-bank-accounts/