Brazilian Philip Han is already investigated by police in Brazil accused of committing crimes against the financial system and the popular economy
Brazilian Philip Han is investigated in Switzerland with BitcoinNOTÍCIAS
The Brazilian Philip Han is being investigated in Switzerland on charges of using Bitcoin and crypto currencies through a supposed financial pyramid called MyHash.
MyHash promises fixed income of up to 30% with Bitcoin and crypto assets through alleged trade operations.
However, the Brazilian states that his company has authorization from the Federal Financial Market Surveillance Authority (FINMA), but the fact was denied by the institution.
Even investigated by the police for a R$1 billion coup, Philip Han creates My Hash without CVM authorization.
In this way both the company and the Brazilian are working irregularly in the country, which can result in punishment and even imprisonment by the European authorities.
“Hello Leadership, how are you? I Philip Han am leading a big project in Switzerland. Bankers linked to a bank in Switzerland are launching a big world class project. It has been approved in Switzerland, a standard for regulating tokens in banks, this is the beginning of the revolution and they have understood that they need to use this technology and they want to be the first to popularise the tokens. So they are launching a very good marketing plan where Philip Han will start and we will have a lot of success as it was in FX,” said Han.
List of irregular companies
To alert Swiss and European investors to the company’s irregular behaviour FINMA has included MyHash in a list of irregular companies
“FINMA checks companies and individuals to see if they are providing unauthorised services. (…) the companies on the list have not complied with the requirement to provide information or the information provided is false. Furthermore, when FINMA’s investigations reveal an imminent and considerable threat to investors, the suppliers involved are also included in the list,” the authority stressed.
In this way FINMA highlights that it can initiate enforcement procedures and impose measures of varying severity that may even lead to the closure of the company.
São Paulo police investigate FX Trading and point to a R$1 billion coup
However, MyHash would not only be offering supposed investment services in Switzerland, but also in Brazil, where Han is already investigated by police.
The Cointelegraph consulted the Securities and Exchange Commission (CVM) about MyHash and found that the company does not have clearance in Brazil either.
In addition, the CVM already has complaints against other Han companies, such as F2Trading, which also operated illegally in Brazil.
Philip Han is investigated by the São Paulo Civil Police in three separate enquiries.
One of them was by FX Trading Corporation, a company that offered investments in Bitcoin, which could reach R$ 1 billion in losses.
FX Trading disappeared with my money, everyone was fooled, run and it’s a scam’ says investor
According to the Secretariat of Public Security of São Paulo, the three enquiries are ongoing.
“Reports of crime against the popular economy, stellarism and criminal organization are being investigated. The teams conduct hearings with the parties, as well as the analysis of information and evidence gathered so far. New steps are taken and the authorities work to clarify the facts and hold those involved accountable”.
However, according to the Han Police, it is still investigated for other crimes against the Popular Economy such as WCM777, Mr. Link and iFreex.
“Their business was basically a messaging application, a similar competitor to WhatsApp, but paid for. Who would pay for something that is like another and for free,” says Guilherme Helder, a Federal Police delegate from Espirito Santo in charge of Operation Mintaka, which investigates Han’s company’s embezzlement.