The red flags of Axos, which banked CZ, Scott Purcell, and Alex Jones
Binance kept Binance US customers’ deposits in Axos Financial, the same bank used by convicted fraudster Reggie Fowler of Crypto Capital Corp, now-bankrupt Prime Trust, and InfoWars’ Alex Jones. However, despite a dubious client list, Axos hasn’t considered its exposure to the crypto industry as a relevant “risk factor” in its quarterly Securities and Exchange Commission (SEC) 10-K filings. But there are more red flags waving over Axos Financial like the fact that Prime Trust and Binance US’ parent company BAM Trading were Axos customers at the same time. But not only that: Prime Trust employed Ponzi-like business practices of using other customers’ assets to fulfill withdrawal requests to hide losses. Prime Trust filed for bankruptcy and its CEO admitted to losing $8 million in the Terra LUNA pyramid scheme. The SEC is suing Binance US’ founder for a litany of federal law violations. The SEC is also suing Terra founder Do Kwon and recently requested that he be extradited ...