Christopher Harborne, the owner of Thailand-based aviation fuel broker AML Global Ltd., has initiated a defamation lawsuit against The Wall Street Journal (WSJ) in Delaware state court. The lawsuit, filed on February 28, centers around a WSJ article from March 2023, which Harborne claims falsely implicated him and his company in illegal activities associated with stablecoin issuer Tether and crypto exchange Bitfinex.
The contentious article titled “Crypto Companies Behind Tether Used Falsified Documents and Shell Companies to Get Bank Accounts,” suggested that Tether and Bitfinex, facing challenges in maintaining access to the global banking system, resorted to using intermediaries, falsified documents, and shell companies. Harborne and AML Global were mentioned in this context, leading to allegations of fraud, money laundering, and terrorist financing—accusations Harborne vehemently denies. He asserts that the WSJ and its reporters had access to documentation proving these allegations false.
In response to Harborne’s complaint, the WSJ, more than nine months post-publication, removed the contested section from the article and added an editor’s note clarifying that there was no intention to imply wrongdoing in AML Global’s attempt to open an account at Signature Bank or that Harborne or AML withheld or falsified information during the application process.
The WSJ has defended its journalistic integrity and practices, stating that the lawsuit contains inaccuracies and distortions. The publication plans to “mount a robust legal defense” against the claims presented by Harborne and AML Global.
Harborne acknowledges a connection to Bitfinex, holding approximately a 12% ownership stake, which he acquired as part of the crypto exchange’s reimbursement plan for customers affected by a 2016 hack. However, he clarifies that he has never held any management or executive role at Bitfinex or Tether, emphasizing his status as a minority shareholder.
This legal battle underscores the complexities and contentious nature of reporting in the rapidly evolving cryptocurrency sector, highlighting the delicate balance between investigative journalism and the reputational risks faced by individuals and companies featured in such reports.
