As a part of his responsible plea within the $250 million Payza cash laundering case, Firoz Patel will personally forfeit over $4 million {dollars}.
As per a consented to Last Order of Forfeiture filed on August seventeenth, 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 World Attain Companions accounts within the UK held within the title of Damaras Restricted;
- all funds seized in HSBC accounts within the UK held within the title of Damaras Restricted;
- $270,000 in Payza funds seized in April 2019;
- each the “payza.com” and “alertpay.com” web site domains;
Firoz Patel, a co-founder of Payza, plead responsible to felony costs filed towards him final month.
US authorities allege Payza processed over $250 million for the aim of cash laundering.
Patel is scheduled be sentenced on November tenth, 2020.
Replace eleventh November 2020 – There’s been a hiccup in that the courtroom has rejected the proposed forfeiture quantity.
This has impacted Firoz Patel’s scheduled November tenth sentencing listening to.
I’m persevering with to watch the case docket for updates.
Replace twelfth November 2020 – On November tenth the Patel brothers had been sentenced to 4+ years in jail.