The SEC is currently investigating “Alex Green” and Moopay LTD along with seven other cryptocurrency companies. The confirmation of government action comes by way of CoinFire, a reputable news site that was first tipped off to SEC and DOJ involvement last week, before the public implosion of MintPal, Moopay, and Moolah. The veracity of the ongoing investigations has since been confirmed with both government agencies and sources within said agencies; however, the names of the seven other cryptocurrency companies currently under investigation are staying unpublished so as not to hinder ongoing investigations. Earlier this week, CEO of Moopay Alex Green announced that the company would be filing bankruptcy.
Now, the official word is that the exchange may be coming back without Alex Green as CEO. Since the spotlight has once again shown on Alex Green, evidence has started to emerge that ties Alex Green to a long-time scammer. Additional evidence has emerged that supports the theory that Alex Green has undergone legal name changes to assume new identities to scam with. Rumors abound about a well-known cryptocurrency venture capitalist swooping in to provide funds to the troubled companies. It is yet unclear if the news of active government investigations will dampen said enthusiasm.
Who Else is the SEC Investigating?
The eight cryptocurrency companies are allegedly under investigation for handling unaccredited investments. CoinFire’s source has been told that most resources are being diverted towards the Moopay LTD case at this time. The SEC is working with IRS accountants, a common occurrence in financial crime investigations. The IRS has over 2,500 special agents that are often lent to other agencies; this often happens because financial crimes such as unlicensed securities issuance and tax evasion often go hand in hand. Expect more news in the next few weeks about other Cryptocurrency companies falling to government scrutiny.
What do you think of the future of Moopay, Moolah, and MintPal? Comment below!
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