Coin Fire has learned from unnamed sources that an active investigation has been underway for the handling of unaccredited investments made in Moopay LTD and that “Alex Green” is named specifically in internal documents and information.
Coin Fire was first made aware of this investigation on October 14th but officials with the SEC and the Department of Justice actively informed our editorial team to not jeopardize current investigations. However, as new information has come to light and a third source stepped forward with further information our editors now feel compelled to begin publishing information.
On October 9th Coin Fire received information from a source inside the US SEC that Moopay LTD along with seven other cryptocurrency companies were under active investigation for unregistered securities in the cryptocurrency world. Coin Fire moved quickly to obtain a list of the named companies. On October 10th, we received a second confirmation of the information and an updated list showing that several companies while under active investigation have been placed on the back burner so that forensic accountants brought in from the IRS and other federal agencies to begin combing through the information.
Several members of the Coin Fire staff questioned the validity of IRS accountants being used in an SEC investigation but our executive editor Mike would later learn from an unnamed source that is familiar with the procedures used that the tactic is common.
Budget cuts have left several federal agencies unable to dedicate staff to the accounting process and that oftentimes a specific accounting team at the IRS could be called in to aid with other federal operations. We don’t have confirmation that the IRS is working with DOJ and SEC; however, it’s not uncommon. The IRS through CID has specialized talent specifically to parse through business and personal records and that oftentimes with these sort of cases with securities fraud that tax evasion often comes with the territory. The IRS employs over 2,800 special agents for these type of investigations and they are oftentimes lent to other agencies.
On October 14th we learned that Moopay, LTD and Moolah would be filing “bankruptcy” as a last-ditch effort to give protection to the embattled CEO and due to financial mismanagement.
Later that evening in a Skype call with a source very familiar to the situation we would learn that Alex Green has changed his name several times but our editorial policies prohibit the publishing of information that is obtained from unofficial sources and our team would begin working to get further information from relevant law enforcement officials.
On October 15th information from several sources would begin surfacing that Alex Green could be a known scammer who has operated under the name Ryan Gentle Francis. CCN has been provided several unverified documents purporting to show this as a possible fact in the ongoing situation.
Coin Fire also learned information from a verified source that Moolah / Moopay LTD would be receiving a cash injection from a well-known venture capitalist in the cryptocurrency space and with permission of the previous parties involved Coin Fire worked to tell the venture capitalist about information about current US Government investigations in a responsible way. The VC involved did not respond to Coin Fire about the information provided but we did learn that due to some of the ongoing concerns about potential law enforcement actions that Alex Green would resign from his post at Moolah.
On October 16th the person known as Mr. Green would post a public blog post on the Moolah blog declaring his resignation and stating,
I would like to start by saying that in context of the below, my identity is irrelevant. My identity becomes relevant if I break the law, which is something that neither myself nor my employees have done. To be as clear as I can, I could have been born as John Smith, and it wouldn’t matter. This is not to be taken as confirmation or admission of anything, that will follow at a later stage. In the eyes of the law, my name is Alex Green.
Further leading to rampant speculation that the name change rumors and other information being disclosed online was true and offering further validity to those making the claims. Later that afternoon Coin Fire received information that the person known as Alex Green had been picked up for questioning and released but as of yet Coin Fire has been unable to verify the authenticity of these claims and believes that Mr. Green is not in the United Kingdom based on information provided to us.
As it now stands the person known as Mr. Green is now under an ongoing investigation for securities fraud and with DOJ involvement likely several other items that we will not speculate on to avoid potentially damaging the current investigations.
When Coin Fire asked for an official on the record comment about the current investigations we were simply told that the organizations involved do not officially comment on any potential or ongoing investigations – if any do exist – to protect the nature of the investigations.
At this time it is clear that “Alex Green” is likely under a rash of investigations from various United States organizations, private suits being filed and now international organizations all working to get the relevant information to get a better handle on the situation. We will be closely monitoring the situation for further details and information.
One thing is clear, Moolah, Moopay, and Mintpal are likely irreparably damaged from this entire situation.
Image provided by Scott S.