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Globe says OSC hears Quadriga co-founder felon in U.S.

2019-03-01 09:15 ET - In the News

The Globe and Mail reports in its Friday edition that the co-founder of troubled cryptocurrency exchange QuadrigaCX is a convicted felon who served time in the United States for his role in an on-line identity-theft ring. The Globe's Joe Castaldo and Alexandra Posadzki write that Michael Patryn helped launch the trading platform in 2013 with Gerald Cotten. The company has come under intense scrutiny since Mr. Cotten, its chief executive officer, died at the age of 30 from complications of Crohn's disease while on his honeymoon in India last December, leaving the exchange's users unable to access $250-million in cash and cryptocurrency. Mr. Patryn has denied that he lived in the U.S. more than a decade ago under the name Omar Dhanani, a California resident who pleaded guilty in 2005 to one count of conspiracy to transfer identification documents. At the time, Mr. Dhanani was a member of an on-line marketplace called Shadowcrew.com that trafficked in stolen credit card numbers and identities. However, The Globe uncovered numerous documents -- including two booking photos from New Jersey -- linking the two names. In a Feb. 8 correspondence with The Globe, Mr. Patryn denied that he and Mr. Dhanani are the same person.

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