The break down of what reportedly claims to be Australia’s initial online mattress retailer OzMattress and cryptocurrency fund head Stefanos Papanastasiou is approximately to be brought to court by his clients over the disappearance of all about AUD$20 million ($14.2 million). Diurnal Australian newspaper The Age reported about the argumentation on March 19. Per the communication, Papanastasiou told his clients in 2017 that he had exhausted half a million Australian dollars ($355,000) to develop an algorithm that delivers affluent returns at the end of one's tether with the trading of Bitcoin (BTC) and Ethereum (ETH)-based tokens. According to the put filed before estate developer Savvas Alexiadis, inseparable of his clients, Papanastasiou owes him more than AUD$2.7 million (wellnigh $2 million). The documents filed with the Uppermost Court of Victoria status that Alexiadis transferred across AUD$2.1 million (approximately $1.5 million) into a Papanastasiou’s trading account. Furthermore, he reportedly also transferred an unspecified quantity of BTC into wallets managed by Papanastasiou. The upon also cites messages allegedly sent by Papanastasiou: “Sam, don't climb caught up in the details. Leave it to me. Stop me positive countersign login appropriate for ACX account]. I'll deal with whatever funds are in there ... Eyes on the treasure Sam. Understood? Got your back.” Furthermore, the documents also rights that Papanastasiou asked Alexiadis to bring AUD$40,000 (across $28,000) to his mate, AUD$35,000 (wellnigh $25,000) to his sister and $450,000 (almost $320,000) to a mattress supplier in Thomastown, hopeful to send an commensurate in crypto assets. The Era notes that Papanastasiou and his missus, Shalini Ganapathy, defaulted on the acquire of a AUD$5.44 million house after December 2017, when Bitcoin had reached its $20,000 peak. The website of Papanastasiou’s mattress retail company, OzMattress, is professedly offline at press time. The rights also notes that Papanastasiou has over again refused to produce an account of trading activity and did not agree with requests to repay the amounts asked by way of his clients. In effect to Alexadais’s claim to revert the for everyone $2 million, Papanastasiou reportedly said: “The Ultimate Court action is unfamiliar to me and I mean to shelter myself against his claim as he has been compensated in extra of $2.7m <>..] Sam and his associates obtain a lot to surrejoinder in favour of as the accuracy of events is vastly separate and far more sinister.” Also, Mark Thompson, a one-time Australian Football Band instruct accused of MDMA and methamphetamine trafficking in May model year, contributed on top of one-liner million Australian dollars (about $709,000) to Papanastasiou’s fund as solitary of his clients. As Cointelegraph reported, the Australian anti-money laundering watchdog has recently suspended the registrations of two cryptocurrency exchanges in family with an uncoordinated dull trafficking case. In other law enforcement and crypto hearsay, a In agreement States Territory Attorney also recently charged the founders of an international cryptocurrency pyramid scheme that mixed up with the marketing of an allegedly forged digital currency called “OneCoin.” Sum up a comment... Imitate us on Diurnal updates Your Email #Bitcoin Expos‚ #Cryptocurrencies #Fraud #Australia #Ethereum #Bitcoin Scams Word 519674718 1 HOUR AGO By Helen Partz Swiss Federal Conclave Initiates Blockchain Law Consultation Period 838 Unmitigated views 97 Total shares Attend to article 1:58 Swiss Federal Council Initiates Blockchain Law Consultation PeriodNEWS The Swiss Federal Gathering has started its consultation full stop on the reworking of federal law in behalf of blockchain condition, according to an official depress release published on Walk 22. Beside initiating the consultation, the Federal Meeting intends to gain strength rightful undoubtedly over blockchain applications in order to build a basis someone is concerned regulatory framework for the persistence in Switzerland, mainly in the fiscal sector. According to the report, the Federal Directory’s consultation will matrix until the raison d'etre of June 2019. In mid-December 2018, the Swiss Federal Consistory adopted a document on the licit framework payment blockchain in the monetary sector, stating that the existing monetary law in the rural area is apt owing the blockchain bustle, but needs some express adjustments. The authority advocated for best admissible definition for the treatment of rights holders on a blockchain network and ensuring that decentralized trading platforms are subject to the country’s Anti-Money Laundering (AML) Act. Following the notice, the Ministry has moment released a plan consultation detail, proposing a slews of adjustments, including the foundation of digital registration of rights in the Swiss Code of Obligations, as incredibly as the collar of crypto assets in the event of bankruptcy in the Federal Law on Obligation Amassment and Bankruptcy. The Council also proposed creating a modern authorization category representing distributed ledger technology (DLT) trading facilities in the stock exchange infrastructure law in order to stipulate a regulated pecuniary market. Distinctly from that, the authority suggested an customization of the tomorrow Financial Institutions Act in degree to set up a authorization representing operating a trading bog as a securities firm. The Swiss Federal Directorate stated that AML policies are install to be incorporated into the planned reform of the Anti-Money Laundering Ordinance as constituent of the successive edition of the Anti-Money Laundering Act. insurance ico Earlier this week, the Federal Crowd of the Swiss direction approved a bearing to tuition the Federal Assembly to suit existing legislation payment cryptocurrency regulation.