Vanbex, a blockchain based firm based in Vancouver, has posted a statement defending itself regarding allegations made by the British Columbia Director of Civil Forfeiture and covered in the media. The original report, covered by the Vancouver Sun, revealed strong statements alleging a “$30-million cryptocurrency scam.”
Vanbex, formerly doing business as Etherparty, was co-founded by Kevin Hobbs and Lisa Cheng – two prominent members of the Canadian cryptocurrency industry. Vanbex is a firm that has evolved from a “strategic communications firm into a consultancy laboratory―leading ideas to launch and helping established companies and startups alike harness emerging technology for a changing world.” Vanbex launched two new products last month: Rocket 2.0 and CryptoTaxes. Rocket is a platform to set up security tokens in “minutes.” As one may expect, CryptoTaxes is a service to help individuals prepare taxes surrounding crypto investing.
According to the blog post on Vanbex, the company defended itself with the following claims:
- Vanbex is far from a shell company. We are a legitimate consulting and development business in the cryptocurrency field – which is completely legal.
- As opposed to what the media and the lawsuit have stated about us being a “shell company” or scam, Vanbex has over 26 staff and a very substantial payroll to match.
- We were never aware of any RCMP or CRA investigation until we saw the notice of civil claim in late March.
- We never liquidated any assets to “avoid” any investigation. All of our assets were purchased with funds that were lawfully ours to use.
- We have never misappropriated funds.
- No company funds were ever used for gambling purposes.
- None of our assets are the proceeds or instruments of any unlawful activity.
- FUEL tokens are a necessary and important part of our business model and a real form of currency.
- The RCMP and the Canada Revenue Agency never contacted us or we would have immediately provided them with all the truthful information and documents.
- At no time was there any deceit or false representation to misappropriate funds from our customers or shareholders.
A representative from Vanbex indicated the source of the aforementioned claims was a former Vanbex employee.
The Response to the Civil Claim, filed on April 2nd in the Supreme Court of British Columbia, vehemently defended the company against the claims. The filing requested that all seized funds and real property be returned.
Vanbex stated that no media interviews will be granted until the court proceedings have been completed.