Millionaire broker and famous Bitcoin disbeliever Peter Schiff’s bank is undergoing renewed scrutiny due to a global criminal enquiry.
As per a report published by Australian newspaper The Age and The New York Times, the J5 have placed hundreds of accounts at Schiff’s Puerto Rico-based Euro Pacific Bank under scrutiny for tax circumvention and other monetary misconducts. Notably, J5 is a combined task force of tax authorities from key Western governments assembled in the aftermath of the shocking publication of the Panama Papers.
The reports elucidate what seems to be an amusingly inept organization accountable for sheltering the fortunes of a group of shady capitalists and offenders. Employees appointed subsequent to a rapid Google search screening were tasked with enticing clients like Simon Antequetil, the well-known Australian swindler and tax evading genius.
Schiff has also shown a history of suspicion apropos hacks, particularly virtual currency-related hacks. In the month of July, Schiff predicted that the hack of several Twitter accounts by a teenager might be an indication for a Bitcoin hack. Furthermore, in the month of April, he tweeted about the likelihood for enhancements in technology to hack the blockchain and forge Bitcoin.
Notably, the aforementioned reports also shed light on how Schiff’s bank may have spoiled public holdings of his most adored asset: gold.
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