BNY Mellon and Credit Suisse Involved in Telegram’s $1.7B Sale: Report
Helen Partz's original article for cointelegraph.com reduced by 78%
Two global financial giants, BNY Mellon and Credit Suisse, were reportedly involved in Telegram's $1.7 billion Gram token sale in 2018.Telegram allegedly informed its investors that it was using BNY Mellon and Credit Suisse to move and store fiat currency raised in the GRAM sale, industry publication Coindesk reports, citing court filings released on Dec. 10.A Telegram employee reveals the details in a series of messages attached to the filingsShyam Parekh, a Telegram employee who is expected to give a deposition before the New York Southern District Court today, Dec. 10, reportedly provided details on how Telegram will process the raised funds in a series of messages attached to the court documents.
In one of the messages, Parekh reportedly provided international bank code for moving money to Credit Suisse via the Swift network. "We will receive the funds through BNY, which will forward the funds to CS AG for final credit to Credit Suisse AG.". According to the report, both BNY Mellon and Credit Suisse declined to comment on the issue.
Filings reveal names of the $1.7 billion token sale investorsMoreover, the messages in the filings reportedly disclosed name of investors that participated in the GRAM token sale. According to messages between Nikolai Oreshkin and Telegram's former chief investment advisor John Hyman, the wide list of investors also includes a California-based fund managed by Elysium Ventures, which reportedly invested $12 million in total. Amid the probe by the regulator, investors in TON reportedly voted against the return of their funds, according to reports in late October 2019.
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