Himalaya Exchange customers launch legal action against the U.S. Department of Justice

Key points: 

Thousands of Himalaya Exchange investors are seeking the release of their frozen funds and compensation for damages, including losses on assets and investment returns, resulting from the actions of the DoJ.Plaintiffs express concerns about potential external influence on the DoJ’s actions, with worries of unintended alignment with the Chinese Communist Party (CCP).Thousands of individuals are now grappling with financial distress due to the freeze on their assets.The legal filing contends that the DoJ’s actions were predatory and unlawful, adversely affecting individuals who invested in Himalaya Coin and Himalaya Dollar cryptocurrencies. Plaintiffs assert that the DoJ’s alignment with CCP policies and goals has unjustly harmed Himalaya Exchange customers.

NEW YORK, Dec. 8, 2023 /PRNewswire/ — FormerFeds, a distinguished provider of corporate defense and litigation services, has initiated legal action in the U.S. District Court for the Southern District of New York in the case of United States v. Miles Kwok. This action represents over three and half thousand customers whose savings and investments in Himalaya Exchange were frozen by the U.S. Department of Justice (DoJ). 

The U.S. Government, through Damian Williams, U.S. Attorney for the Southern District of New York, and Michael J. Driscoll, Assistant Director in Charge of the New York Field Office of the FBI, claims to have confiscated approximately USD $634 million from 21 bank accounts, alleging them to be the proceeds of fraud, and seeks permanent forfeiture. 

The U.S. Government has claimed that more than USD $262 million in victim funds were fraudulently accessed through the Himalaya Exchange a cryptocurrency ecosystem.  That includes both a stable coin and a trading coin, known as the Himalaya Dollar and Himalaya Coin, respectively. 

The Himalaya Exchange, renowned for its commitment to independence and data privacy, stands as a vital alternative for the global expat Chinese community amid CCP influence. Geyer underscored the vulnerability of non-U.S. citizens in this legal struggle, squeezed by a system prioritizing possessions over human rights who were drawn towards the US model system. 

The legal action satisfies all the legal requirements and aims to streamline the legal process and ensure a fair resolution for all victims. 

Next Steps 

The motion for the return of the customers’ money  has been officially filed, and the legal team is prepared to vigorously pursue the case through the judicial process. Updates on the case, including court dates and developments, will be made available to the public as they unfold. 

You can find the link to the press conference here: https://rumble.com/v406ae1-himalaya-exchange-customers-launch-legal-action-against-the-department-of-j.html 

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SOURCE Himalaya Exchange