Latest news with #Cryptocurrencies
Associated Press
17-04-2025
- Business
- Associated Press
Fast Finance Pay Corp Appoints Wolf & Company as New Auditor
NEW YORK, NY / ACCESS Newswire / April 17, 2025 / Fast Finance Pay Corp. (OTC PINK:FFPP) announced today the appointment of Wolf & Company, P.C. as the Company's independent registered public accounting firm effective immediately. Wolf & Company, P.C. provides external audit and assurance services that provide businesses with the confidence to achieve their financial and reporting goals. Their team of experienced auditors are registered with the Public Company Accounting Oversight Board (PCAOB). Ole Jensen, CEO, President and Chairman of Fast Finance Pay Corp. stated, 'We are pleased to engage Wolf & Company as our new independent auditor. The firm has deep experience in the financial services sector, specifically crypto and digital payments, working with many of our peers across the industry. Their leading expertise and fresh perspective will be valuable assets as we continue executing our growth strategy and striving for excellence in financial reporting and corporate governance.' About Fast Finance Pay Corp. Fast Finance Pay Corp is a global provider of innovative communication and digital payment solutions. The company offers a messenger platform with app and web applications that enable seamless communication while integrating a crypto wallet, debit card services and B2B merchant tools. Fast Finance Pay Corp stands out by combining messaging, payment solutions, and crypto exchange services, facilitating smooth interactions between Fiat and Cryptocurrencies. Through its brands - and DigiClerk - the company delivers scalable B2C and B2B solutions for payment processing. Its offerings include both noncustodial and custodial crypto wallets, empowering users to trade cryptocurrencies and participate in Decentralized Finance (DeFi). Customer acquisition is driven by a strong partner network, social media presence, and effective referral programs. Revenue is generated through advertising, commissions on Fiat and crypto transactions, and fees for credit card payments. Fast Finance Pay Corp is redefining communication and digital payments by making them more secure, seamless, and globally connected. For additional information, visit Forward-looking statements This news release may contain forward-looking statements within the meaning of Section 27a of the Securities Act of 1933 (as amended) and section 21e of the Securities and Exchange Act of 1934 (as amended). Those statements include the intent, belief or current expectations of the Company and its management team. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. Some or all the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. CONTACT: Investor Relations Andrew Barwicki 516-662-9461 [email protected] SOURCE: Fast Finance Pay Corp. press release
Al Etihad
14-04-2025
- Business
- Al Etihad
ADGM's RA imposes fines of $3.6 million on Special Purpose Vehicle AC Holding
14 Apr 2025 13:42 ABU DHABI (WAM)The Registration Authority (RA) of ADGM announced that it has concluded its investigation into the Special Purpose Vehicle (SPV), AC Holding Limited (AC Holding), and its sole shareholder and director, Christopher investigation found that AC Holding exceeded the scope of its ADGM SPV commercial licence by purporting to be an investment company offering financial services for clients and processing wire transactions to convert Cryptocurrencies into Fiat currencies and vice versa. Moreover, AC Holding submitted four false annual accounts to the RA for the financial years 2019 to RA also found that Christopher Flinos engaged in fraudulent trading, where AC Holding facilitated (unlicensed) cryptocurrency conversion transactions and a number of parties were misled about the transactions. Christopher Flinos also facilitated the falsification and provision of hundreds of company documents to fraudulently maintain bank a result, the RA has imposed financial penalties totalling $3,615,000, including $15,000 against AC Holding for exceeding the scope of its licence in contravention of ADGM Commercial Licensing Regulations 2015; $300,000 against AC Holding for filing false annual accounts about its balances with the RA and various fraudulent schemes in contravention of the ADGM Companies Regulations 2020; and $3.3 million against Christopher Flinos for providing false information to the RA, engaging in various fraudulent schemes and the falsification of company documents in contravention of the ADGM Companies Regulations RA also disqualified Christopher Flinos from being the director of any ADGM-based company for the maximum allowed period of 15 RA considers Christopher Flinos unfit to serve as a company director in ADGM due to his intentional misuse of AC Holding's passive SPV commercial licence as a payment facilitator, as well as the fraudulent actions taken to facilitate such Sayah Al Mazrouei, CEO of ADGM Registration Authority, said, 'Maintaining business integrity and safeguarding business confidence in ADGM are at the forefront of the Registration Authority's objectives. We remain committed to preventing and deterring conduct that may harm businesses, their clients and investors. "Where non-compliance is identified, the Registration Authority will take effective, proportionate and dissuasive disciplinary action to protect ADGM participants. This includes banning individuals who lack fitness and propriety and pose an unacceptable risk to investors from holding leadership positions within companies in ADGM.'
Zawya
14-04-2025
- Business
- Zawya
ADGM's RA imposes fines of $3.6mln on Special Purpose Vehicle AC Holding
ABU DHABI - The Registration Authority (RA) of ADGM announced that it has concluded its investigation into the Special Purpose Vehicle (SPV), AC Holding Limited (AC Holding), and its sole shareholder and director, Christopher Flinos. The investigation found that AC Holding exceeded the scope of its ADGM SPV commercial licence by purporting to be an investment company offering financial services for clients and processing wire transactions to convert Cryptocurrencies into Fiat currencies and vice versa. Moreover, AC Holding submitted four false annual accounts to the RA for the financial years 2019 to 2022. The RA also found that Christopher Flinos engaged in fraudulent trading, where AC Holding facilitated (unlicensed) cryptocurrency conversion transactions and a number of parties were misled about the transactions. Christopher Flinos also facilitated the falsification and provision of hundreds of company documents to fraudulently maintain bank accounts. As a result, the RA has imposed financial penalties totalling US$3,615,000, including $15,000 against AC Holding for exceeding the scope of its licence in contravention of ADGM Commercial Licensing Regulations 2015; $300,000 against AC Holding for filing false annual accounts about its balances with the RA and various fraudulent schemes in contravention of the ADGM Companies Regulations 2020; and $3.3 million against Christopher Flinos for providing false information to the RA, engaging in various fraudulent schemes and the falsification of company documents in contravention of the ADGM Companies Regulations 2020. The RA also disqualified Christopher Flinos from being the director of any ADGM-based company for the maximum allowed period of 15 years. The RA considers Christopher Flinos unfit to serve as a company director in ADGM due to his intentional misuse of AC Holding's passive SPV commercial licence as a payment facilitator, as well as the fraudulent actions taken to facilitate such misuse. Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority, said, 'Maintaining business integrity and safeguarding business confidence in ADGM are at the forefront of the Registration Authority's objectives. We remain committed to preventing and deterring conduct that may harm businesses, their clients and investors. "Where non-compliance is identified, the Registration Authority will take effective, proportionate and dissuasive disciplinary action to protect ADGM participants. This includes banning individuals who lack fitness and propriety and pose an unacceptable risk to investors from holding leadership positions within companies in ADGM.'
