As part of his guilty plea in the $250 million Payza money laundering case, Firoz Patel will personally forfeit over $4 million dollars.

As per a consented to Final Order of Forfeiture filed on August 17th, Patel will forfeit

  • $4 million in Payza funds seized in November 2013;
  • $100,000 in Payza funds seized in February 2014
  • $250,359 in Payza funds seized in June 2016;
  • all funds seized in Global Reach Partners accounts in the UK held in the name of Damaras Limited;
  • all funds seized in HSBC accounts in the UK held in the name of Damaras Limited;
  • $270,000 in Payza funds seized in April 2019;
  • both the “payza.com” and “alertpay.com” website domain names;

Firoz Patel, a co-founder of Payza, plead guilty to criminal charges filed against him last month.

US authorities allege Payza processed over $250 million for the purpose of money laundering.

Patel is scheduled be sentenced on November 10th, 2020.



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