The scandal surrounding the Russian-based Suex crypto broker that was recently sanctioned by the United States continues to grow. One of the co-founders of the platform was fired from his executive position in a bank. Meanwhile, the case has now been referred to the central bank and the interior ministry by an anti-drug organization. They have asked the financial authorities to investigate the connections of the crypto broker with financial companies, along with a darknet market that appears to be operating in the region. Financial executive and Russian entrepreneur, Vasily Zhabykin was recently released from his managerial position at MTS Bank.
He had been heading the popular Neo bank project, but was released, as he is also one of the founders of Suex, the crypto broker that’s currently under fire. According to sources close to the matter, the dismissal occurred because of sanctions that were imposed by the United States over the alleged money laundering activities of the platform. This news comes after Egor Petukhovsky, one of the co-owners and partners of Zhabykin at Suex, announced that he was leaving Chatex, a crypto exchange bot because the company has also been associated with Suex. He said that the media was carrying out a discredential campaign, as neither him nor any of his partners, or affiliated businesses, had been involved in illegal activities.
The Suex co-founder said that he would defend himself in litigation in the US. Other than these two co-founders, some of the other people believed to be involved with the crypto broker include Tibor Bokor, a Czech venture capitalist, Maxim Kurbangaleev, who has denied any direct involvement, Maxim Subbotin and Ildar Zakirov. Even though the crypto broker is incorporated in the Czech Republic, it is operating from physical offices in Russia, including branches in Saint Petersburg and the capital Moscow.
Meanwhile, the Ministry of Interior and Central Bank of Russia have been informed by Stopnarkotik, the All-Russian Public Movement, about the alleged connections of the crypto broker with the Ukraine-based Concord Bank, the CIS countries, leading Russian payment provider, financial services firm Qiwi and Eastern Europe’s major cryptocurrency exchange Exmo. The organization conducted an investigation has also determined that Suex also played a role in laundering the funds of the largest darknet market in the region, along with drug trading platform Hydra. The latter’s annual turnover is around $1.5 billion in Russia alone.
The organization, which is dedicated to fight the spread of narcotics in Russia, requested the Bank of Russia to look into the operations of Exmo, Suex and Qiwi and also consider blocking payments to the Ukrainian bank from Russian customers. It also asked the Ministry of Internal Affairs to view all the facts and take action against involved persons. Any claims of involvement in Suex were denied by Exmo and it went on to say that Petukhovsky is not one of the exchange’s co-founder and hasn’t been a part of its management ever. It added that despite sharing last names with the exchange’s founder, Ivan Petukhovsky, they don’t have any family ties.