The owners of the troubled digital currency exchange MintPal are moving to take legal action against former Moopay LTD CEO Alex Green.
Green, who was once known as Ryan Kennedy, is accused of stealing as much as 4,000 BTC ($1.3m at press time) in user funds from MintPal following its failed relaunch and the subsequent collapse of Moopay (more commonly known as Moolah), which assumed control of the exchange this summer. Much of the stolen bitcoin was held in cold storage under the control of Green, according to the MintPal leadership.
In the past two weeks, numerous allegations tying Green to past fraudulent behavior have emerged. Green has denied engaging in unlawful behavior, but has admitted to changing his name from Ryan Kennedy to Alex Green.
CoinDesk spoke with Ferdous Bhai, a major shareholder and director of the holding company that owns MintPal.
Bhai has released a document detailing his and partner Mike Chu’s involvement with Green and their subsequent plans to recover customer funds. To this end, he said he is working with UK-based law firm Selachii LLP, the firm representing the syscoin developers in their legal fight against the former Moolah chief.
Bhai said that the team is focused on both bringing legal action against Green in the UK and, in the long-term, providing restitution to users who lost bitcoin following the closure of MintPal.
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http://www.coindesk.com/mintpal-fight-moolah-ceo-court/Can't wait to see the outcome.
