American federal prosecutors have named a Scottish “ghost” firm they say was used to help launder the profits of a $500 million cryptocurrency scam.
United States authorities have announced the arrest of two Estonians they accuse of defrauding “hundreds of thousands” of victims across the world of at least $575 million.
They allege that Sergei Potapenko and Ivan Turogin, both 37, used a Scottish limited partnership, or SLP, called Ecohouse Networks to wash some of their supposed proceeds of crime.
The American accusations are the latest to feature SLPs, once dubbed “Britain’s homegrown secrecy vehicles” by anti-corruption campaigners at Transparency International.
The men were detained in Tallinn after a long FBI investigation of a cryptomining company called HashFlare and an unregulated cryptocurrency “bank”
