The two administrators, according to U.S. prosecutors, “redesigned Garantex’s operations to evade and violate U.S. sanctions and induce U.S. businesses to unwittingly transact with Garantex in violation of the sanctions.”
Last week, the U.S. Secret Service seized Garantex’s websites after the Justice Department unsealed its indictment against Besciokov and Serda. U.S. authorities also froze more than $26 million in cryptocurrency.
Since then, Garantex has suspended its operations, and invited customers to “face-to-face meetings” at its office in the Russian capital Moscow after coming up with an unspecified “solution for blocked assets.”
On Tuesday, Garantex sent TechCrunch a press release saying that “despite the unprecedented nature of the situation, Garantex is not abandoning its obligations to its users and intends to fully compensate for the blocked user assets at the expense of its existing assets in Russian Federation territory through a procedure similar to the financial institution rehabilitation procedure.”
“Garantex’s activities will cease after the rehabilitation procedure is completed, with the exception of the compliance department,” the press release states.
Source: Original Article
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