Alex Green, CEO of Moolah and the man alleged to be well-known internet scammer Ryan Gentle, has spoken on Moolah’s blog.
In the blog, he provides secveral insights into what happened with Moolah in an attempt to clear his name. In short, he says “I know I have f***ed up on a catastrophic level”.
Moolah
Green gives a long-winded explanation of what happened with Moolah, claiming the platform “had been bleeding funds from the core platform.”
As a result of a “giant technical oversight”, Green claims users on Moolah were able to double their balances through the exploitation of a bug . A similar bug was discovered earlier this year, but Green claims there was another one of which they were unaware until now.
As a result, Green hastily declared bankruptcy at the same time as Moolah was working on a solution to replace the funds through a venture capital injection. The VC pulled out, though, after the strong backlash against the scandal-plagued company.
More details will come to light in the future, including “a full breakdown [of expenses, including] receipts/invoices where available.”
MintPal
Green claims MintPal users can still withdraw their funds from the platform, and that it has processed 2597 BTC worth of altcoin withdrawals since they shut down the service.
MintPal themselves, however, seem to disagree. They said as much in a tweet yesterday evening:
We do not know Ryan's current location, and he is unfortunately the only one with access to customer funds.
— MintPal (@MintPalExchange) October 19, 2014
Alex Green Or Ryan Kennedy?
In a previous post, Green asserted cryptically that “in the eyes of the law, my name is Alex Green.” Green would later admit he legally changed his name to Alex Green from Ryan Kennedy, “in an attempt to start my life over and have some peace.”
What isn’t clear is what he’s had to start his life over from, though the allegations made against him may lead one to fill in the blanks.
The CoinFront’s sources claim his birth name was Ryan Francis Gentle. He may have changed it multiple times as a result of multiple fraudulent activities.
What’s Next?
Green asserts that he’s not on the run, and that it would be “very easy for any official body to find me.”
He also reasserts that no criminal wrongdoing has taken place by either himself or any other employee of Moopay LTD, the holding company under which Moolah has been maintained. “I fully intend to cooperate with any and all law enforcement and regulatory agencies as required.”
Interestingly, at no point does he specifically address any of the allegations made against him, other than to say that “some of the latest ones are getting rather ridiculous, and I deny the vast majority of them.”
He also swears to never go into business as a entrepreneur again, especially as the head of a financial services company, and expresses regret at the way things turned out.
I am shocked and upset that this has happened, and I am fully aware that I deserve the general sentiment in relation to me. Again, words cannot express how sorry I am. I will be taking any and all possible action in order to mitigate the damage caused by this event, in turn likely caused by poor management by myself.
Moolah CEO Alex Green: "I F***ed Up On A Catastrophic Level
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