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US officials: Arthur Hess, former CEO of Bitmax, can surrender


A few months after the US Commodity Futures Trading Commission (CFTC) sued the BitMEX exchange, its operators and owner, Arthur Hayes, a key member of the exchange, were accused of setting up a platform and trading in derivatives. Has been willing to surrender to the court.

to the the report Cryptopotito, CFTC‌ sued Bitmax for violating the privacy policy. According to the CFTC, Bitmax has “deliberately” failed to create, use and execute appropriate anti-money laundering programs on its derivatives trading platform.

The exchange faced the consequences immediately after filing a complaint. Samuel Reed, one of the operators of the exchange, was arrested and later released on $ 5 million bail. Hess, on the other hand, remained free, but was forced to resign as CEO of 100x Group, the same organization that runs the exchange.

Hess is currently overseas in Singapore, according to court documents related to the hearing, which took place on February 9. However, the former CEO of Bitmax is in talks with the US government to surrender and appear in court.

Jessica Greenwood, a U.S. attorney general, told the court that Hess had negotiated her surrender on April 6. According to Greenwood, he will do so in a Hawaiian court. He added:

The plan is to inform the court in advance of his presence and then talk about how he was transferred to Hawaii. After that, he will appear in court virtually.

After appearing in the virtual court, Hess can continue to reside abroad, travel to the United States if required to appear in court, and appear in court in New York if he is due to stand trial.

He also announced that the parties to the lawsuit are negotiating bail.

The court documents also mention Ben Delo, co-founder, and Greg Dwyer, former director of the Exchange Business Development Division, and their future.

Greenwood said the US judiciary had failed to negotiate voluntary surrender with Dwyer and that he was currently based in Bermuda. According to him, due to the lack of negotiation conditions, the process of his extradition has begun. Greenwood went on to say:

We anticipate that they will not oppose the extradition. At least that’s what his lawyer says.

According to Aquarius’ lawyer, he intends to appear in court in New York.

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