Tagged: enforcement

January 10, 2023 @ 8:29 pm By Omar Faridi  |  

Another enforcement shoe has dropped against a major crypto exchange with the announcement of a lawsuit by New York’s Attorney General against Celsius Network CEO/co-founder Alex Mashinsky. AG Letitia James accuses Mashinsky of “defrauding thousands of investors out of billions of dollars in digital funds,… Read More

January 9, 2023 @ 10:19 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a civil lawsuit against Avraham Eisenberg, alleging a fraudulent scam to obtain over $110 million in digital assets from a decentralized digital asset exchange. The enforcement action has been filed in the U.S. District Court for the… Read More

January 4, 2023 @ 9:39 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against CoinDeal and its creators involving $45 million in a crypto plot. The SEC has charged Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC… Read More

December 21, 2022 @ 11:54 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has joined both the SEC and US Department of Justice in filing fraud charges against Caroline Ellison, former Alameda CEO, and Gary Wang, FTX co-founder and former CTO. The CFTC initially filed the fraud action on December 13 against… Read More

December 21, 2022 @ 11:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against former Alameda Research CEO Caroline Ellison and FTX co-founder and former CTO Gary Wang. The enforcement action was due to the pair’s role in the failure of FTX and their roles in a “multiyear scheme to… Read More

December 21, 2022 @ 5:53 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Thor Technologies, Inc., David Chin, and Matthew Moravec with conducting an unregistered securities offering. Chin is a co-founder and CEO of Thor, and Moravec is a co-founder and former CTO. According to the SEC, in 2018, the… Read More

December 20, 2022 @ 5:53 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Oi2Go Media Technologies and its CEO Anthony Michael Hernandez with conducting offering fraud. According to the SEC, Hernandez raised about $1.317 million from around 750 investors in a Reg A+ offering, which took place in 2018. Under… Read More

December 14, 2022 @ 9:09 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges in another case of alleged crypto fraud. This time the “crypto pyramid scheme” apparently targeted the Spanish-speaking community. According to the SEC, Francisley Valdevino Da Silva, Juan Antonio Tacuri Fajardo, Ramon Antonio Perez Arias, and Jose… Read More

December 14, 2022 @ 9:48 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against eight influencers pertaining to a $100 million securities fraud plot. Simultaneously, criminal charges have been leveled at the individuals by the Department of Justice’s Fraud Section and the U.S. Attorney’s Office for the Southern… Read More

December 13, 2022 @ 12:13 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a complaint in the US District Court for the Southern District of New York against Sam Bankman-Fried, FTX, and Alameda Research. The CFTC complaint charges the defendants with fraud and material misrepresentations in connection with the sale… Read More

December 13, 2022 @ 7:52 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against Sam Bankman-Fried, founder and former CEO of FTX. The crypto exchange filed bankruptcy last month as allegations of malfeasance surfaced. In a simultaneous action, the Commodities Futures Trading Commission (CFTC) announced charges as well…. Read More

November 29, 2022 @ 7:12 pm By JD Alois  |  

LBRY, a digital asset firm that was the target of a Securities and Exchange Commission (SEC) enforcement action, has taken to Twitter to predict its own demise stating it will “probably be dead in the near future.” Since any information given privately to the SEC… Read More

November 29, 2022 @ 11:22 am By JD Alois  |  

Crypto exchange Kraken has settled with the US Department of Treasury, which had alleged sanction violations. Falling under the Office of Foreign Assets Control (OFAC), Kraken has agreed to pay $362,158.70 to settle a possible civil liability for claimed violations of the Iranian Transactions and… Read More

November 18, 2022 @ 3:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has commenced administrative proceedings against American CryptoFed DAO LLC. The company is based in Wyoming and was established under the state’s DAO law in July 2021. The Order, available here, outlines the interaction between American CryptoFed and the SEC…. Read More

November 15, 2022 @ 12:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Enforcement, has published its annual activity report for the fiscal year 2022. The Division of Enforcement is the largest section of the SEC and leverages the bulk of the agency’s budget. During the SEC’s fiscal year of… Read More

November 14, 2022 @ 4:11 pm By JD Alois  |  

The bankruptcy of FTX and many of its affiliated entities have pummeled all crypto markets. Many observers wonder if there is another shoe to drop. Meanwhile, crypto-associated firms continue to make announcements regarding any impact the collapse of crypto may have on their operations. It… Read More

November 5, 2022 @ 6:33 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the creator and promoters of the Trade Coin Club, which is described as a “global crypto Ponzi scheme.” According to the SEC, the alleged ponzi scam raised $295 million from more than 100,000 investors around… Read More

October 17, 2022 @ 3:54 pm By JD Alois  |  

Last week, it was reported that Bittrex was the target of an enforcement action emanating from the US Department of Treasury. Two divisions at Treasury, the Office of Foreign Assets Control (OFAC) and The Financial Crimes Enforcement Network (FinCEN) announced enforcement actions. The crypto trading… Read More

October 11, 2022 @ 3:54 pm By JD Alois  |  

Bored Ape, or Bored Ape Yacht Club, creator Yuga Labs is being investigated by the Securities and Exchange Commission (SEC), according to a report. Bored App became emblematic of the rapid rise in non-fungible tokens (NFTs). Sales of the collectibles began in the Spring of… Read More

October 11, 2022 @ 11:23 am By JD Alois  |  

The US Department of Treasury has revealed two enforcement actions against the crypto exchange Bittrex. According to a statement issued by Treasury, Bittrex has settled for $24 million with the Office of Foreign Assets Control (OFAC) and for $29 million with Financial Crimes Enforcement Network… Read More