The head of Volantis escrow faces up to 10 years in prison for defrauding customers.
A federal judge has ruled against a New York City-based attorney who allegedly made premature releases of funds from a crypto investment firm’s escrow account. Yesterday, Law 360 reported that U.S. District Judge Alison J. Nathan had ordered Aaron Etra, a local attorney, to reimburse investment firm Benthos Master Fund after he withdrew funds from the company’s escrow account. Unlawful Fund Withdrawals The case dates back to 2018, when the San Francisco-based investment firm reached out to Etra to help create an escrow account for its Bitcoin purchases. The firm had planned to purchase up to $5 million in Bitcoin,…
The New York attorney released the funds without authorization and lost investment firm Benthos Master Fund $4.6 million intended for a bitcoin purchase deal.