BitRush (BRH) used to be one of the first public-listed crypto companies in 2015 when it was approved for a listing on the Canadian Securities Exchange (CSE). Werner Boehm and Alfred Dobias established the company. They listed it at the CSE with Slovakian entrepreneur and investor Igor Wollner and his partner Hans-Joerg Wagner, with Boehm acting as CEO. In 2016, Wollner and Wagner wanted BitRush to sign a contract with the late cybercrime mastermind Uwe Lenhoff to launder money through BitRush.
The Money-Laundering Case
In December 2016, BitRush founders Werner Boehm and Alfred Dobias had a dispute with Igor Wollner and Hans-Joerg Wagner. Boehm, as CEO and Dobias as director of BitRush, refused to partner with Uwe Lenhoff and his cybercrime organization. The decision to refuse such a partnership was grounded on a due diligence report commissioned by Boehm, which revealed that Lenhoff was massively involved in cybercrime activities and money laundering. That didn’t bother Wollner and Wagner, however. They wanted to facilitate Lenhoff’s money-laundering activities. Lenhoff allegedly laundered up to $2 billion per year at this time.
Consequently, Boehm, as CEO of BitRush, refused to sign CSE filings, and the stock was suspended from trading. Igor Wollner and Hans-Joerg Wagner, via a lawsuit in Canada, managed to get Boehm and Dobias to lose their shares in BitRush while bribing witnesses and making false statements. In the end, Boehm and Dobias were to be proven right.
The German Uwe Lenhoff had been under investigation by prosecutors in several jurisdictions since 2017. He was arrested in early 2019 and died in prison in 2020. Trials are currently being held in Germany and Austria against members of his cybercrime organization for investment fraud and money laundering.
BitRush is still suspended and has become a dormant company. Wollner and Wagner want to sell this public-listed shell company with the help of their Canadian director Karsten Arend. Several capital infusions have already been made to fund the ongoing costs of a listed company.
The BitRush Announcement
BitRush Corp. (CSE:BRH, Frankfurt:0XSN) (“BitRush” or the “Company”) announces that the company has granted effective June 8, 2022, an aggregate of 250,000 incentive stock options to certain (5) consultants under its 2021 Omnibus Equity Incentive Compensation Plan to purchase up to an aggregate of 250,000 common shares at an exercise of $0.05 per share until June 8, 2026. 187,500 options vest in equal amounts on a quarterly basis over one year, while the remaining number of options vested upon grant.
The common shares of the company, including the common shares issuable pursuant to the exercise of the options, remain suspended from trading in accordance with the rules of the CSE. Such suspension will continue until such time as the company effectively meets certain listing requirements of the CSE. Although the company does not currently have any definitive plans for the operation of a business, it is investigating and evaluating opportunities with a view to the development of a sustainable business.
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