Another Week, Another Backpage Scandal

Another week, another scandal tied to Backpage and its unscrupulous band of executives and sycophantic defenders.

Today we found a report on Decrypt that child prostitution site Backpage used multiple crypto currency exchanges to launder its cash. The site, which closed last year, moved hundreds of thousands worth of dark money through crypto exchanges.

The report states categorically:

“Backpage also furthered its money laundering efforts through the use of bitcoin processing companies. Over time, Backpage utilized companies such as Coinbase, GoCoin, Paxful, Kraken, and Crypto Capital to receive payments from customers and/or route money through the accounts of related companies.”

Using multiple dummy companies Backpage endeavored to further obscure its money trail in order to throw off prosecutors.  The report goes on to raise further suspicions around Backpage by saying:

“According to court documents, the government seized several financial accounts belonging to Backpage owners, including a number of accounts held with Crypto Capital, as well as Global Trading Solutions—one of the many other names under which Crypto Capital operates”

In addition to its myriad other crimes could conspiracy to launder monetary instruments be added the seemingly ever-growing list?

If, as the report details, the government is already in possession of the many different accounts owned and controlled by Backpage owners, all of whom were Tony Ortega’s direct superiors, lest we forget, could there be more to be revealed as their trial date grows nearer? And most importantly, were the Backpage owners the only ones complicit in this crime? Are there yet more to be revealed who perhaps facilitated obscuring payments made to the company’s payments by its shady clientele?

Many of us here suspect the answer may be yes. And we will be here to keep you posted on the latest developments as they occur…

Print Friendly, PDF & Email

Comments are closed.