Unlicensed online money business operators plead guilty to laundering over $250 million from Ponzi, pyramid schemes
( July 22, 2020, 12:00 GMT | Official Statement) -- MLex Summary: Firoz Patel, his brother Ferhan Patel, and their company MH Pillars operating as Payza.com pled guilty to conspiring to launder money and operating an Internet-based unlicensed money service business that processed more than $250 million in illicit transactions, the US Department of Justice said in a statement.FOR IMMEDIATE RELEASE...
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.