Australian CEO faces allegations of misleading investors over crypto firm collapse
The post Australian CEO faces allegations of misleading investors over crypto firm collapse appeared on BitcoinEthereumNews.com. An Australian businessman has been accused of misleading investors after his crypto firm collapsed. Christopher Flinos was banned in the Cayman Islands and Abu Dhabi after his crypto company Hayvn collapsed amid fraud allegations back in Melbourne. According to reports, Christopher Flinos ran the company, which paraded itself as a regulated and compliant payment solution for the authorization, clearing, and settlement of cryptocurrency payments. The company also earned a license to operate in the Cayman Islands. However, his company’s license was canceled by the Cayman Islands Monetary Authority (CIMA) in June, banning Flinos from being a company director in the country. Australian businessman accused of misleading investors Reports claim that before the ban in the Cayman Islands, regulators in Dubai, the United Arab Emirates capital, had made allegations of fraud against him, alleging that his company, Hayvn, failed to follow anti-money laundering rules. Flinos acted as the chief executive officer of the company, with an official notice issued by the Abu Dhabi Global Market Registration Authority on March 30 showing that he owned a third of the business. According to the Hayvn website, Flinos was CEO of the company from 2019 and had worked as an investment banker before that. In 2014, he assisted in setting up CH Stirling, a boutique investment bank in Dubai, which, according to Bloomberg, had a full-sized table in its reception. In addition, he also worked at Abu Dhabi Commercial Bank and Merrill Lynch. Hayvn said it agreed with local firm, Venue Smart, which allowed the company to expand its presence into Australia. The business provided payment terminals to pubs, clubs, and other businesses in the hospitality industry. This way, thousands of merchants could offer their clients seamless crypto payment solutions, according to a press release issued by Flinos at the time. In another interview…
The post Australian CEO faces allegations of misleading investors over crypto firm collapse appeared on BitcoinEthereumNews.com.
An Australian businessman has been accused of misleading investors after his crypto firm collapsed. Christopher Flinos was banned in the Cayman Islands and Abu Dhabi after his crypto company Hayvn collapsed amid fraud allegations back in Melbourne. According to reports, Christopher Flinos ran the company, which paraded itself as a regulated and compliant payment solution for the authorization, clearing, and settlement of cryptocurrency payments. The company also earned a license to operate in the Cayman Islands. However, his company’s license was canceled by the Cayman Islands Monetary Authority (CIMA) in June, banning Flinos from being a company director in the country. Australian businessman accused of misleading investors Reports claim that before the ban in the Cayman Islands, regulators in Dubai, the United Arab Emirates capital, had made allegations of fraud against him, alleging that his company, Hayvn, failed to follow anti-money laundering rules. Flinos acted as the chief executive officer of the company, with an official notice issued by the Abu Dhabi Global Market Registration Authority on March 30 showing that he owned a third of the business. According to the Hayvn website, Flinos was CEO of the company from 2019 and had worked as an investment banker before that. In 2014, he assisted in setting up CH Stirling, a boutique investment bank in Dubai, which, according to Bloomberg, had a full-sized table in its reception. In addition, he also worked at Abu Dhabi Commercial Bank and Merrill Lynch. Hayvn said it agreed with local firm, Venue Smart, which allowed the company to expand its presence into Australia. The business provided payment terminals to pubs, clubs, and other businesses in the hospitality industry. This way, thousands of merchants could offer their clients seamless crypto payment solutions, according to a press release issued by Flinos at the time. In another interview…
What's Your Reaction?
