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…