Twister Money Trial Pulls Dragonfly Into Authorized Crosshairs

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Federal prosecutors are wanting into attainable expenses towards Tom Schmidt of Dragonfly Capital and a few of his colleagues, in line with Assistant US Lawyer Thane Rehn.

The replace got here throughout the ongoing prison trial of Twister Money developer Roman Storm in New York.

Schmidt and his group backed Pepper Sec Inc., an organization linked to Twister Money, in 2020. The Division of Justice (DOJ) later despatched a subpoena to Dragonfly in 2023 as a part of its investigation.

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In response, Dragonfly co-founder Haseeb Qureshi said that the agency had adopted all legal guidelines and absolutely cooperated.

He added that the corporate doesn't consider the DOJ will transfer ahead with what he described as "absurd and groundless expenses". He additionally stated they're able to defend themselves if wanted.

Storm’s authorized group had deliberate to name Schmidt as a witness, however Schmidt declined to reply questions in court docket by invoking his proper to not incriminate himself. It isn't but clear whether or not he will likely be required to talk in court docket at a later time.

Prosecutors said that Storm and his companions contacted Dragonfly management, together with Qureshi and Schmidt, by means of electronic mail.

In a single message, they requested recommendation on incorporating know-your-customer (KYC) options, that are designed to confirm customers’ identities in accordance with US rules.

On July 23, prosecutors referred to as IRS Particular Agent Stephan George to testify within the Twister Money trial. What did he say? Learn the complete story.

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