BULLETIN: Payza, Patel Brothers Indicted; Feds Move To Forfeit Payza.com Domain Name
BULLETIN: A grand jury in the District of Columbia has indicted the operators of Payza and moved for the forfeiture of the Payza.com domain name.
Ferhan Patel, 37, has been arrested in Detroit and is being held. Firoz Patel, 43, is listed by U.S. authorities as “at large.” The Payza.com domain name appears still to be operational.
Charges include money-laundering and operating an unlicensed money-service business that processed payments for Ponzi schemes, pyramid schemes and child pornography.
The case has been under investigation for years. Homeland Security Investigations led the probe.
“The arrest and indictments in this case demonstrate that we will vigorously enforce laws meant to protect the American consumer,” said U.S. Attorney Jessie K. Liu of the District of Columbia. “Money transmitting businesses are required to be registered federally and licensed in most states and jurisdictions, including the District of Columbia. Consumers should beware of those that do not follow these laws because they could be acting as a cover for other illegal activity.”
Well this came out of left field, good to see you publishing again!
Reminds me of Liberty Reserve. Vladamir Kats is serving 10 years in prison and Arthur Budovsky received a 20 year prison term for money laundering and operating an unlicensed money transmitting business. With tougher US laws in place now, it will be interesting to see how much time the Patel brothers receive for their crimes.
Looks like site now down and taken over by ICE and DOJ :) hope they rotten in hell!