Fool’s gold? Peter Schiff’s bank is under investigation for tax evasion

This morning Peter ship, the millionaire broker and notorious Bitcoin skeptic, woke up to find his bank under control again following an international criminal investigation.

According to the Australian newspaper The Age and The New York Times, the J5 – A joint working group of the financial authorities of the major Western governments met after the bombing of the Panama Papers was published. investigated “hundreds” of accounts at the Euro Pacific Bank in Puerto Rico for tax evasion and other financial crimes.

The reports detail what appears to be a strangely incompetent organization responsible for harboring the fortunes of a group of seedy businessmen and criminals. Employees hired after a quick Google search were tasked with attracting clients like Simon Antequetil, the notorious Australian scammer and master of tax evasion.

Fool’s gold? Peter Schiff’s bank is under investigation for tax evasion
Fool’s gold? Peter Schiff’s bank is under investigation for tax evasion

In an interview with The Age Last month, Schiff denied Euro Pacific’s wrongdoing, saying the bank was “rejecting many more accounts than we approved because our compliance is very strict”..

He later stormed out of the interview.

But amid the reports There is one important detail that could shed light on why Schiff was such a virulent critic of the world’s most popular cryptocurrency, Bitcoin..

Taken from the age:

“Bank security was also an issue […] At one point, the Russians tried to blackmail the bank with a ransom for 1,000 Bitcoins worth millions of dollars. “

Although Schiff criticized Bitcoin back in 2013, The blackmail attempt could explain why it’s been particularly loud lately, especially in a Twitter discussion with Gemini co-founder Tyler Winklevoss.

Schiff has also shown a history of paranoia regarding hacks, particularly those related to cryptocurrency. In July, Schiff predicted that an American teenager’s hacking of multiple Twitter accounts could be a “harbinger” of a Bitcoin hack, and In April tweeted on “the potential for technological improvements in hacking blockchain and counterfeit Bitcoin”.

Despite Schiff’s concerns about the potential to hack into the Bitcoin blockchain, In the world of digital assets, there is no equivalent to the iron pyramid. Unless you count BSV.

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