The Department of Justice will not pursue charges against Dragonfly Ventures in connection with the Tornado Cash case, according to a managing partner at the crypto investment firm.
According to Haseeb Qureshi, the managing partner of Dragonfly, the U.S. Department of Justice (DOJ) is not expected to file charges against the crypto investment firm during Tornado Cash founder Roman Storm’s federal trial in Manhattan this month.
DOJ Walks Back Dragonfly Indictment as Roman Storm Trial Nears Conclusion
Dragonfly will not be indicted by the Department of Justice on criminal charges for its affiliation with the troubled cryptocurrency mixer Tornado Cash, according to a report from the crypto executive on July 28.
Qureshi criticized the Department of Justice’s open court statements on Friday, describing them as “unprecedented” and “a clear violation of DOJ policy,” including a screenshot of federal prosecutor Nathan Rehn’s court testimony.
“The Department of Justice has backtracked,” Qureshi stated in the Monday X post. The media reports that they intended to bring charges against Dragonfly were inaccurate, and neither Dragonfly nor any of its principals are targets in their investigation, as stated on the record in the trial on Monday morning.
The Dragonfly executive also tried demonstrating public support for Storm as his historic trial progressed in the Manhattan federal courthouse.
Qureshi stated, “With that incident behind us, the primary focus should be on the Roman Storm trial, which is imminently approaching its conclusion this week.” “The case results will have significant repercussions for privacy rights and open-source software in the United States.”
He stated, “We are optimistic that the American judicial system will resolve this matter correctly.”
Storm has endured a tumultuous few weeks as he endeavors to increase his financial contributions amid his prosecution for money laundering and sanctions violations.
Storm is accused by prosecutors of laundering and concealing over $1 billion through Tornado Cash, including hundreds of millions for the Lazarus Group, North Korea’s state-sponsored cybercrime organization.
Storm is subject to a maximum sentence of 45 years in federal incarceration if convicted.
