Kevin Hobbs - Vanbex

Vancouver-based Vanbex raised up to $33m in July 2017 for its cryptocurrency offering, Fuel token. Cops say Kevin Hobbs and Lisa Cheng used most of that money to bankroll a lavish lifestyle complete with luxury cars, high-stakes gambling and luxury real estate. RCMP began investigating Vanbex in May 2018. Soon after, the Canadian Revenue Agency began a tax probe. During Vanbex’s cryptocurrency offering and in the months following, US$8.9m made its way into Hobbs’ personal bank account. Bank accounts and properties of Hobbs and Cheng were seized in March of this year.

Before the offering the couple lived in a condo owned by Cheng's parents. Shortly after the offering, Hobbs’ and Cheng’s Instagram accounts filled with posts of their fortune and lavish lifestyle. They flaunted luxury goods, Rolex collections, exotic vacations and real estate. Hobbs is a degenerate gambler, and was placed on the BC Lottery Corp.’s watch list after laundering between $1.8m and $2.3m in B.C. casinos. The pair deny all. “It will all be shown that [the money] was legally obtained,” Hobbs spewed.

Hobb's $3.6m condo on the 52nd floor of a building in downtown Toronto has been seized.

Hobbs claims innocence, saying that fraud allegations are being made by ex-employees with axes to grind. A pillar of their defence involves claiming that Vanbex’s former director of engineering, Kip Warner, defamed them.
See ----->Kevin Patrick Hobbs and Lisa Cheng targeted for civil forfeiture