According to reports, two global financial giants, BNY Mellon and Credit Suisse, participated in Telegram's $ 1.7 billion Gram (GRAM) token sale in 2018.
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According to Coindesk citing a December 10 court filing, Telegram informed its investors that the company is using BNY Mellon and Credit Suisse to transfer and store fiat money raised in the GRAM sale.
A Telegram employee revealed details in a series of messages attached to court documents
Telegram employee Shyam Parekh is reported to be presenting today at the Southern District Court of New York on December 10, and a series of messages accompanying the court documents reportedly provided details on how Telegram will handle the raised funds.
In one of the messages, Parekh reportedly provided the international bank code used to transfer funds to Credit Suisse via the Swift network. He said:
"We will receive the funds through BNY, which will forward the funds to CS (Schweiz) AG for final credit to Credit Suisse AG."
According to the report, both New York Mellon Bank and Credit Suisse declined to comment on the matter.
File shows names of Telegram token investors
In addition, news in reported court documents revealed the names of investors involved in the Gram token sale. According to reports, venture capital firm Kleiner Perkins invested $ 30 million in Gram, while Lightspeed China's Chinese arm Lightspeed China invested $ 25 million and FBG Capital invested $ 10 million.
According to information between Nikolai Oreshkin and John Hyman, former chief investment advisor at Telegram, this extensive list of investors also includes the California Fund, which is managed by Elysium Ventures, The fund reportedly invested a total of $ 12 million.
Other investors include Naveen Selvadurai, co-founder of Foursquare, Matt Mullenweg, founding developer of WordPress, Jeremy Stoppelman, CEO of Yelp, Om Malik, partner of True Ventures, Alexia Bonatsos, former co-editor of TechCrunch, and fashion magnate Silas Chou.
In addition, it is reported that Hyman revealed that a large amount of investment came from Russia and the countries of the Commonwealth of Independent States that have relations with Telegram founder Pavel Durov.
TON investor voted against withdrawal of funds in SEC investigation
According to reports, Telegram founder Durov will testify before a court reporter on January 7 or 8, 2020. Telegram's testimony, Ilya Perekopsky, is set for December 16, 2019.
On December 7, the U.S. Securities and Exchange Commission (SEC) asked the High Court of England and Wales to ask Hyman to testify in the case.
In October 2019, the U.S. Securities and Exchange Commission (SEC) suddenly announced that Telegram's $ 1.7 billion token offering was illegal. According to a report in late October 2019, in the regulator's investigation, TON's investors voted against the return of its investment funds.
As Cointelegraph reports, the Southern District Court of New York moved the trial of the injunction issued by the SEC to TON to February 18-19, 2020.