Tagged: doj

December 31, 2024 @ 8:22 am By Omar Faridi  |  

The US Department of Justice (DOJ), together with the Federal Trade Commission (FTC), announced a civil enforcement action against Dave Inc. and its co-founder, President, Chief Executive Officer, and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and… Read More

December 30, 2024 @ 4:49 pm By JD Alois  |  

The US Department of Justice says victims of the Bernie Madoff fraud have received 93.71% of their fraud losses. Of course, this does not reflect the opportunity cost of missed years when the money could have been put to work. And then there is inflation…. Read More

December 11, 2024 @ 11:09 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against three Nigerian nationals for scamming investors out of $2.9 million. According to the SEC, the trio impersonated legitimate investment advisors and conning around 28 investors. At the same time, the United States Attorney’s Office for… Read More

October 1, 2024 @ 10:43 am By JD Alois  |  

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning individuals and entities affiliated with Evil Corp, a cybercriminal operation based in Russia. OFAC is taking the action in partnership with the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and… Read More

September 26, 2024 @ 9:50 am By JD Alois  |  

As was previously reported, the US Department of Justice (DOJ) has filed a lawsuit against Visa (NYSE:V) claiming uncompetitive practices that stifle innovation while keeping costs high for consumers. A statement by the Competitive Enterprise Institute (CEI) posted this week counters this argument, claiming the DOJ’s… Read More

September 24, 2024 @ 6:14 pm By JD Alois  |  

The US Justice Department has filed a civil suit in federal court alleging that Visa (NYSE:V) is monopolizing debit network markets in violation of the Sherman Act. The DOJ claims that Visa is using its dominance to thwart competition and impede innovations. The DOJ complaint… Read More

August 26, 2024 @ 7:09 pm By Omar Faridi  |  

Tether, which claims to be among the largest companies in the digital asset industry, reaffirms its commitment to combat illicit activities, “stop illegal use of stablecoin technology, and provide support to victims through its assistance to, and support of, law enforcement agencies globally.” As the… Read More

August 2, 2024 @ 8:36 am By Omar Faridi  |  

IRS-Criminal Investigation, the US Department of Justice, and the Federal Bureau of Investigation in coordination with the German Federal Criminal Police Office (BKA) and the Attorney General’s Office in Frankfurt, reportedly seized the domain for online crypto wallet Cryptonator for allegedly failing to have “appropriate”… Read More

July 11, 2024 @ 6:12 pm By JD Alois  |  

Pig Butchering is a term that references a fairly common scam in which fraudsters target an individual, gain their confidence, and convince them to forward funds to an account where the con person and funds then disappear. Frequently, crypto is involved, as it is easy… Read More

July 11, 2024 @ 8:16 am By Omar Faridi  |  

Global cryptocurrency exchange BitMEX has pleaded guilty to a Bank Secrecy Act offense, according to the US Department of Justice (DOJ). BitMEX willfully “flouted” U.S. Anti-Money Laundering (AML) laws, claims the DOJ. Damian Williams, the United States Attorney for the Southern District of New York,… Read More

May 28, 2024 @ 12:35 pm By JD Alois  |  

Ryan Salame (30), a former top executive of FTX, has been sentenced to 7 1/2 years in prison for his role in the crypto firm’s activities. Sam Bankman Fried, the founder and CEO of FTX, was eventually sentenced to 25 years in prison for his… Read More

May 16, 2024 @ 11:36 am By Omar Faridi  |  

A US Department of Justice (DOJ) indictment was unsealed, charging Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York, with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The charges in the indictment arise “from an alleged… Read More

April 25, 2024 @ 7:21 am By Omar Faridi  |  

Keonne Rodriguez and William Lonergan Hill are charged with operating Samourai Wallet, an unlicensed money transmitting business that reportedly executed over $2 billion in unlawful transactions and allegedly “laundered over $100 million in criminal proceeds.” Damian Williams, the United States Attorney for the Southern District… Read More

April 24, 2024 @ 8:19 am By Omar Faridi  |  

The United States Department of Justice is reportedly seeking a 36-month prison sentence for Binance founder and former CEO Changpeng Zhao, or “CZ.” US prosecutors are said to be seeking a potential 3-year prison sentence for Changpeng Zhao, who is the founder Binance, the world’s… Read More

April 21, 2024 @ 8:26 am By Omar Faridi  |  

The United States Justice Department is reporting its first cryptocurrency open-market manipulation case. A federal jury in New York has now “convicted a man residing in Puerto Rico of commodities fraud, commodities market manipulation, and wire fraud in connection with the manipulation on the Mango… Read More

February 2, 2024 @ 7:45 am By Omar Faridi  |  

The US Department of Justice (DOJ) has reportedly unsealed indictments that have been made against three people for allegedly stealing more than $400 million from the bankrupt crypto exchange FTX. These three individuals had allegedly carried out a sophisticated SIM-swapping technique in order to gain… Read More

January 30, 2024 @ 3:09 pm By JD Alois  |  

As was reported yesterday the founders and promoters of Hyperfund, an alleged $1.89 billion crypto fraud, face both a civil action by the Securities and Exchange Commission as well as criminal charges brought by the US Department of Justice. Sam Lee has been charged in… Read More

January 26, 2024 @ 5:14 pm By JD Alois  |  

Approximately $132 million in Bitcoin will be auctioned off by the Feds as part of the seizure from dark web activity. ($129,251,164.54 + $3,304,833.65) According to a notice filed by the US Department of Justice, Bitcoin seized from Ryan Farace and Sean Bridges in 2021… Read More

November 24, 2023 @ 12:16 pm By Omar Faridi  |  

Tether, which claims to be one of the largest companies in the cryptocurrency industry, says that it continues its unwavering commitment “to combat illicit activities and provide support to victims through its assistance to, and support of, law enforcement agencies.” As the U.S. Department of… Read More

November 24, 2023 @ 10:59 am By Omar Faridi  |  

Former CEO and Binance founder Changpeng Zhao‘s (CZ) departure from the firm will trigger some short-term volatility in the cryptocurrency market, but crypto will “continue to thrive as more institutional money pours in,” predicts the CEO of an independent financial advisory, asset management and fintech… Read More