Paxful co-founders’ litigation cites misappropriation of funds, cash laundering, U.S. sanctions evasion

A bitter dispute between Paxful’s co-founders, Artur Schaback and Mohamad (Ray) Youssef, in Delaware’s courts could have been the true cause behind the market’s sudden closure on April 4.

Schaback and Youssef, who began Paxful in 2015 with a shared ardour for Bitcoin (BTC), are actually litigating the corporate’s management, with a number of accusations towards one another, in accordance with court docket paperwork. The allegations embrace misappropriation of firm funds, cash laundering and evasion of United States sanctions towards Russia, amongst others.

Founders disagree

Youssef’s perspective

Schaback’s perspective

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