Firoz Patel pleads not guilty to Payza money laundering, bond set
Jan.17, 2019 in
payment processors, regulation
Payza co-founder Firoz Patel has pleaded not guilty to charges relating to money laundering.
Patel also entered a plea of not guilty on behalf of Payza’s parent company, MH Pillars.
Patel appeared at a January 15th arraignment upon voluntarily travelling to the US, following months of negotiations with US authorities.
Part of those negotiations also saw Patel’s bond conditions set.
As per a January 15th order, Patel will be released on a $300,000 cash bond. He will return to Canada during the proceedings but is required to attend court appearances in the US.
Looking forward, a Status Conference has been scheduled for May 9th. Stay tuned…
Just a brief update. Case is still in discovery page.
Discovery has been provided to Payza defendants, they are going through.
Owing to discovery amount being so large, next stat conf is scheduled for Sep 17th.
Any further developments here?
I check the docket periodically. Next calendar update is Sep 29th.
what’s happening on the 29th?
I’m checking the case docket and reporting any news.
Checked the docket today. The Sept stat conf was delayed at the request of Firoz and Ferhan Patel on September 5th.
They say they need more time to go review discovery and discuss legal logistics.
New Status Conference date is November 14th.
any updates here?
Possibly plea bargains on the horizon – https://behindmlm.com/payment-processors/payza-money-laundering-indictment-resolutions-on-horizon/