Search
Hong Kong Busts Crypto Fraud Group Involving Students, Defrauding Victims of HK$360M
15.10.2024
Hong Kong police busted a local crypto fraud group and arrested 27 people, involving students for defrauding victims…
Washington State Accuses 2 Cryptocurrency Platforms of Defrauding Investors
5.10.2024
Two cryptocurrency platforms face allegations of fraud by Washington State’s Department of Financial Institutions. Both companies allegedly lured investors with promises of huge returns, but later blocked withdrawals and demanded extra fees. An investor lost $64,000 to one platform after being...
Fake Crypto Fund Operator Pleads Guilty to Defrauding Investors
28.6.2024
Michael Joseph McElhiney, age 37 and formerly of Spokane, Washington, has pleaded guilty to wire fraud, the U.S. Department of Justice (DOJ) announced on Wednesday. Between March 4, 2021, and Sept. 10, 2022, McElhiney defrauded investors by falsely claiming to operate a cryptocurrency investment...
FBI Busts $43M Crypto and Las Vegas Hospitality Ponzi Scheme
2.5.2024
The FBI arrested New York resident Idin Dalpour for defrauding investors of $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.
The post FBI Busts $43M Crypto and Las Vegas Hospitality Ponzi Scheme appeared first on Cryptonews
Google Files Lawsuit Against Crypto Scammers for Launching Fraudulent Apps on Google Play
4.4.2024
Google has filed a lawsuit against a group accused of defrauding more than 100,000 individuals worldwide by uploading fraudulent investment and crypto exchange apps to Google Play.
The post Google Files Lawsuit Against Crypto Scammers for Launching Fraudulent Apps on Google Play appeared first...
SEC Moves to Dismiss Lawsuit Against Crypto Company Debt Box, Citing Inaccuracies in Court
31.1.2024
The SEC has decided to abandon its lawsuit against Debt Box, a crypto company previously accused of defrauding investors of millions. This decision follows the SEC’s acknowledgment of presenting misleading information in court, a revelation that undermines the agency’s case...
Denver Pastor Claims $300K Home Renovation Funded by Crypto Scam Was ‘God’s Plan’
21.1.2024
Denver pastor Eli Regalado, who is currently facing a lawsuit filed by Colorado’s securities commission for allegedly defrauding investors through the sale of the valueless INDXcoin cryptocurrency, has released a video responding to the allegations. In the video, Regalado admits that...
‘Pig Butchering’ Crypto Scheme Uncovered: Debiex Charged by CFTC for Defrauding Investors
20.1.2024
The Commodity Futures Trading Commission (CFTC) has charged digital asset platform Debiex for engaging in a deceptive scheme known as “pig butchering,” which resulted in the loss of $2.3 million from investors. On Firday, the CFTC filed a complaint against Debiex and Zhāng Chéng Yáng...
SEC Freezes Assets of Church for Selling Unregistered ‘God-Backed’ Crypto Token
20.1.2024
Colorado-based pastor Eligio “Eli” Regalado and his wife, Kaitlyn, are facing legal action after allegedly defrauding investors of millions of dollars through the sale of an unregistered crypto token, called INDXcoin. The token was marketed to devout Christians as...
South Korean Supreme Court Jails $153m Crypto Fraudster for 10 Years
20.12.2023
Source: alswart/Adobe South Korea’s Supreme Court has jailed a crypto fraudster who amassed $153 million for 10 years, upholding a sentence handed out in February. The man, surnamed Ko, was the CEO of a crypto firm that called itself QRC Bank. He was convicted of defrauding some 5,400 crypto...
SEC Faces Difficulty in Serving Lawsuit to Richard Heart, Hex and PulseChain Founder – What’s Going On?
27.11.2023
Source: Adobe The United States Securities and Exchange Commission (SEC) is encountering difficulties in serving a lawsuit against Richard Schueler, also known as Richard Heart, the founder of Pulsechain, PulseX, and the controversial project Hex. On July 31st, the SEC filed a lawsuit against Heart...
GS Partners Accused of Defrauding Crypto Investors in Metaverse Schemes
17.11.2023
Regulators crack down on GS Partners for allegedly fraudulent metaverse crypto offerings. Image by Aliaksandra, Adobe Stock. California, Texas, and several other U.S. states have cracked down on GS Partners, accusing the company of defrauding cryptocurrency investors through various fraudulent...
SBF’s Legal Battle: Scaramucci’s Grim Outlook on Testimony
27.10.2023
FTX founder Sam Bankman-Fried began testimony in his own fraud trial on Thursday, defending himself from accusations of intentionally defrauding his exchange’s customers. Prior to taking the stand, SkyBridge Capital founder Anthony Scaramucci said that the former crypto mogul’s odds...
SBF Testifies FTX had no Risk Management Team, Denies Defrauding Anyone: “A lot of people got hurt”
27.10.2023
Bankman-Fried began his formal testimony in front of the jury shortly before 10 a.m. this morning in his landmark fraud case. It comes after his “dry-run” in front of Judge Kaplan yesterday afternoon following disputes between the prosecution and defense over what the defendant could...
Sam Bankman-Fried denies defrauding FTX users at trial
27.10.2023
As the final witness in his defense case, the former FTX CEO placed some of the blame for the crypto exchange’s failure on Gary Wang and Nishad Singh
Gemini, Genesis, DCG Face $1B Fraud Lawsuit by NY Attorney General; Gemini Says It’s the ‘Victim’ in Scandal
19.10.2023
New York Attorney General Letitia James filed a lawsuit against crypto companies Gemini Trust Company, Genesis Global Capital, and its parent company Digital Currency Group (DCG) for allegedly defrauding over 230,000 investors out of more than $1 billion. The lawsuit claims the companies lied about...
New York Attorney General Sues Gemini Trust, Genesis Global, and DCG for Defrauding Customers
19.10.2023
New York Attorney General Letitia James has filed a complaint against popular crypto exchange Gemini, crypto lending firm Genesis, and crypto investment company Digital Currency Group (DCG).
The lawsuit also targets two executives, former Genesis CEO Michael Moro and DCG CEO Barry Silbert...
New York Attorney General sues Gemini, Genesis, DGC for allegedly defrauding investors
19.10.2023
A filing from New York attorney general Letitia James alleges that the cryptocurrency companies defrauded investors of over $1 billion
Gemini, Genesis, DCG Sued by New York Attorney General for Allegedly Defrauding Investors
19.10.2023
The lawsuit alleges that Gemini knew Genesis’ loans were undersecured and at one point highly concentrated with one entity, Sam Bankman-Fried’s Alameda, but did not reveal this information to investors
Ex-Deutsche Bank Investment Banker Faces Up to 30 Years in Prison for Crypto Fraud
21.9.2023
A registered broker and former investment banker with financial giant Deutsche Bank has pleaded guilty to defrauding investors into a fraudulent crypto fund. He is facing up to 30 years in prison and will be required to pay restitution of more than $1.5 million, according to the U.S. Justice...