US Prosecutors Want $84.2 Million From a Bank Tied to Tether
The U.S. Department of Justice is seeking to forfeit $84.2 million tied to Capstone Ltd., a Montana-based payments firm accused of operating as an unlicensed money transmitter while disguising itself as an IT company. The complaint, filed in federal court in California, says Capstone moved funds connected to Tether-related payment processing and that most of the money came from a Wells Fargo Securities account, with smaller amounts from JPMorgan, another Wells Fargo account, and USDT wallets. Prosecutors also say Capstone was directed by EQIBank, a Dominica-licensed digital bank that says the seizure could threaten its survival. Tether says EQIBank handled its USDT purchase and redemption transfers but it had no knowledge of Capstone’s alleged misconduct. Capstone and EQIBank are contesting the seizure with innocent-owner defenses.
