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FTX Seeks to Exclude Dubai Subsidiary From Ongoing Bankruptcy
3.8.2023
FTX Trading Ltd. filed a motion on Tuesday to dismiss its Dubai-based subsidiary, FTX Exchange FZE, from ongoing bankruptcy proceedings, citing the unit’s lack of operations and assets. Dubai’s FTX Exchange Faces Voluntary Liquidation After Motion to Dismiss From Parent Company In...
HEX Plummets Over 40% After SEC Files Lawsuit Against Creator Richard Heart
2.8.2023
After the U.S. Securities and Exchange Commission filed a lawsuit against Richard Heart and his companies Hex, Pulsechain and Pulsex, the crypto asset hex (HEX) has been in a free fall. Two-week statistics show HEX has lost 41.7% against the U.S. dollar and 35.8% over the past seven days. Uniswap...
Fugitive Crypto Exchange Founder Faruk Ozer Extradited to Turkey
21.4.2023
Albania has extradited the founder of Turkish cryptocurrency exchange Thodex to his home country where he is charged with defrauding investors. The crypto entrepreneur disappeared after his trading platform unexpectedly went offline in the spring of 2021 and was arrested last year by Albanian...
NBA Hall of Famer Shaq Served in FTX Investor Suit
18.4.2023
A law firm representing FTX investors has served former NBA star Shaquille O’Neal in a class-action case against celebrities who endorsed the failed crypto exchange. The lawsuit accuses Shaq, along with other public figures and the platform’s founder, of defrauding people who put money into FTX....
Former Deutsche Bank Investment Banker Charged With Crypto Fraud in US
14.4.2023
An investment banker formerly employed by Deutsche Bank has been charged with perpetrating a crypto-related fraud. The man from Brooklyn has been accused of misappropriating funds from victims whom he promised large returns on cryptocurrency investments in a Ponzi-like scheme. Ex-Deutsche Bank...
Former investment banker charged for allegedly defrauding crypto investors
12.4.2023
Brooklyn federal court charged a former investment banker for allegedly taking investors’ money under the pretext of making profitable crypto investments
US Sentences Man to 3 Years in Prison for Defrauding Investors in Crypto Mining Scheme
6.3.2023
A U.S. district judge has sentenced a man to three years in prison in a fraudulent cryptocurrency mining scheme. The defendant “misappropriated his victims’ money and failed to provide them with the miners and miner-hosting services they had purchased from him,” according to...
US Arrests ‘Mutant Ape Planet’ NFT Creator in $3M ‘Rug Pull’ Scheme to Defraud Crypto Investors
11.1.2023
The U.S. government has arrested and charged the creator of “Mutant Ape Planet” non-fungible tokens (NFTs) for allegedly defrauding crypto investors. “The purchasers were ‘rug pulled,'” the Department of Justice (DOJ) described, adding that millions of dollars...
DOJ Asks Victims of Sam Bankman-Fried’s Fraud to Come Forward
8.1.2023
The U.S. Department of Justice (DOJ) has asked victims of former FTX CEO Sam Bankman-Fried (SBF)’s fraud to come forward. The former FTX executive has been charged with “defrauding customers of FTX.com, investors in FTX.com, and lenders to Alameda Research,” the Justice Department...
Former Celsius CEO Mashinsky Sued By New York State for Defrauding Investors
5.1.2023
New York’s attorney general has sued Alex Mashinsky, the former CEO of Celsius Network, for defrauding hundreds of thousands of investors by making false statements about the condition of the company to encourage money to keep coming in
SEC files defrauding charges against Gary Wang & Caroline Ellison
22.12.2022
The controversy surrounding FTX has taken a new turn, as the SEC has filed defrauding charges. The Securities and Exchange Commission recently charged the former CEO, Caroline Ellison, and the former CTO, Gary Wang. The charges revolve around a multi-year scheme of defrauding FTX’s equity...
US Securities Watchdog Charges Sam Bankman-Fried With Fraud Over FTX Collapse
13.12.2022
According to a statement published on Dec. 13, 2022, the U.S. Securities and Exchange Commission (SEC) has charged the disgraced FTX co-founder Sam Bankman-Fried (SBF) with defrauding investors. SEC chairman Gary Gensler explained that the U.S. financial regulator alleges that SBF “built a house...
SEC charges FTX CEO SBF for defrauding investors a day after his arrest
13.12.2022
SEC has filed charges against the former CEO Sam Bankman-Fried, accusing him of defrauding U.S. customers and concealing the diversion of customers' funds
US SEC Charges Sam Bankman-Fried for Defrauding FTX Investors
13.12.2022
Bankman-Fried illegitimately used customer funds to support his lavish lifestyle and make political donations, the regulator alleged
Better Business Bureau Warns of Cryptocurrency Investment Scams on Tiktok
20.9.2022
The Better Business Bureau (BBB) has warned about cryptocurrency scams on Tiktok. “You are scrolling through Tiktok when you come across a video showing a pile of cash. The creator says they earned the stack of money in just a few days by investing in cryptocurrency,” the...
Florida Crypto Scam Trader of EmpiresX Pleads Guilty of Defrauding Investors of $100m
12.9.2022
A Florida man has pleaded guilty to conspiracy to commit securities fraud with a crypto Ponzi scheme that defrauded investors of about USD 100m.
The man, identified as the 28-year-old Joshua David Nicholas, was working as “Head Trader” at the purported crypto platform EmpiresX, which he and others...
Russian Arrested for Defrauding Buyers of Mining Hardware Worth Over $300,000
5.9.2022
Police in the southern Russian city of Astrakhan have detained a man accused of defrauding people who wanted to purchase crypto miners. Law enforcement officials say the suspect made millions of rubles through fictitious sales of mining devices to Russian citizens and foreigners. Investigators...
Ukrainian Police Bust Crypto Call Centers Defrauding Investors Across Europe
1.9.2022
Ukrainian investigators have exposed a scheme targeting residents of the country and the European Union with various financial scams, including some related to cryptocurrencies. The criminal organization members contacted their victims through call centers to collect personal financial information....
Miami Trio Charged With Defrauding Banks and Crypto Exchange of Over $4M
23.8.2022
The DOJ has been cracking down on crypto-related scams as lawmakers become more vocal about illicit activity in the space
Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors
20.8.2022
The Indian police have launched an investigation into Bitconnect and booked its founder after a bitcoin investor reported being defrauded by the global crypto “Ponzi scheme.” According to U.S. authorities, the scheme reached a market capitalization of $3.4 billion at its peak....