Prosecutors seize accounts of Montana firm reportedly linked to Tether

US prosecutors in California seized nearly $81 million from Capstone's accounts. Capstone was a Montana payments company reportedly linked to Tether. Prosecutors seized $2 million from a JPMorgan account. They also seized roughly $1.2 million worth of Tether's dollar-pegged token. Prosecutors said Capstone's owners misrepresented the business as an information technology company when opening accounts with Wells Fargo and JPMorgan. Capstone acted as a money services business. Prosecutors said Capstone processed payments for two crypto companies through an agreement with a bank in Dominica. Prosecutors said Capstone obtained cash by pretending to be FBI agents. Prosecutors said Capstone converted the proceeds to crypto. Tether confirmed it was a customer of the bank. Tether said it was unaware of the conduct alleged by the Justice Department. Tether said its assets held at the bank were limited. Court filings did not allege wrongdoing by Wells Fargo or JPMorgan. Spokespeople for both banks declined to comment.