March 20, 2019, | AtoZ Markets - The news on the Canadian controversial crypto exchange QuadrigaCX does not happen to stop flowing, seemingly, as the court convicted QuadrigaCX Co-founder.
In the latest updates around that name, one of its Co-founders had a past full of criminal activities in the United States, as the media reported recently.
Michael Patryn, the co-founder in question here, who helped Gerald Cotten in 2013 establish QuadrigaCX, was known before as Omar Dhanani.
Not so long ago, the exchange was reported to have lost $145 million of clientele funds, in parallel with the death of its CEO, Gerald Cotton, who passed away at the age of 30 as a result of the Crohn’s disease he diagnosed with in December 2018.
At the moment, QuadrigaCX is undergoing legal and financial proceedings, with Ernst & Young as an independent monitor in its creditor protection case.
It was supposed that Patryn had already left QuadrigaCX in 2016, upon a big disagreement with Cotten over the listing processes for the firm.
Back in the time, the Canadian newspaper Globe and Mail reported that Patryn and his partner, Lovie Horner, stayed two of QuadrigaCX’s largest shareholders, event though he had not been involved in any business with the company’s operations since 2016.
The case’s ramifications continue with Patryn denying today being the same person as Dhanani. However, the Bloomberg exposed that Patryn legally changed his name twice — first losing his last name “Dhanani” and then replacing his surname “Omar” in 2003 and in 2008.
1.5 million stolen credit card and bank card numbers in his record
22-year-old Dhanani - or Patryn- was sentenced to 18 months in the U.S. federal prison for being involved in “identity theft” related to both bank and credit card fraud back in 2005, as the reports unveil.
The sentence came to meet the charges of trafficking over 1.5 million stolen credit card and bank card numbers through shadowcrew.com which he operated in 2002.
His criminal record continues, as in 2007, Dhanani was also charged for burglary, grand larceny and computer fraud, California state court records informed.
Further details say that the accused was deported to Canada later, where he introduced himself once again as a “Bitcoin (BTC) entrepreneur”.
His LinkedIn profile says that he is based in Vietnam now and has been serving as founder and chairman at fintech Ventures Group (FVG), a Canada-based blockchain incubator.
Recently, Cotten’s widow Jennifer Robertson reported that Cotten used to fund the exchange with his own money while it was claimed to be with a major Canadian bank.