Tagged: fraud

December 1, 2018 @ 11:00 am By Cali Haan  |  

Jared Rice Sr, the man behind AriseBank and the associated cryptocurrency/token, AriseCoin, has been indicted in the Northern District of Texas and, if convicted, faces a possible prison sentence of 120 years. Rice Sr was arrested by the FBI Wednesday and is charged with 3… Read More

November 30, 2018 @ 1:10 pm By Cali Haan  |  

A 27-year-old woman in New York has pleaded guilty to financing the Islamic State of Iraq and al-Sham (ISIS or Daesh). According to a release from the US Department of Justice, between March and July 31st, 2017, Zoobia Shahnaz of Brentwood, New York, committed multiple acts… Read More

November 27, 2018 @ 9:36 am By Cali Haan  |  

Bulgarian police have arrested and charged 3 people accused of stealing $5 million in cryptocurrencies, Reuters reports. The arrests were announced Monday by officials from the Bulgarian Ministry of the Interior and local prosecutors. Police seized $3 million in cryptocurrency at the scene as well… Read More

November 21, 2018 @ 4:51 pm By Cali Haan  |  

Police in Manhattan have arrested and charged Nicholas Truglia, 21, with 21 counts of felony crimes related to hacks he allegedly conducted against 6 individuals, including a $1 million USD theft of cryptocurrencies from Silicon Valley executive Robert Ross. According to the New York Post,… Read More

November 21, 2018 @ 3:45 am By Cali Haan  |  

According to three sources to Bloomberg, a broad investigation into manipulation of cryptocurrency markets initiated last year by the US Department of Justice is now focussing on alleged Bitcoin price manipulation by creators of the Tether cryptocurrency and its origin exchange, Bitfinex. The two businesses are… Read More

November 17, 2018 @ 7:21 am By Cali Haan  |  

Eight men in Tokyo have been charged by local police with running a Bitcoin Ponzi scheme that authorities say defrauded over 6000 individuals in 44 Japanese prefectures of ¥ 7.8 billion ($68.44 million), Asahi reports. The men, including Kazunari Shibata, 46, who works as an executive… Read More

November 16, 2018 @ 3:13 pm By Cali Haan  |  

The first person to be prosecuted in the US for ICO (initial coin offering) fraud has pleaded guilty to misleading 1000 investors, Bloomberg reports. On Thursday, Maksim Zaslavskiy, 39, admitted in a Brooklyn federal courtroom that he collected money for two ICOs: RECoin and Diamond… Read More

November 13, 2018 @ 8:41 pm By Cali Haan  |  

A fake halal cryptocurrency pyramid scheme targeting Muslim investors in India has fallen apart in the Bitcoin bear market, in part due to scrutiny from regulators, Deccan Chronicle (DC) reports. Father-and-son team Syed Fareed and Syed Afaq Ahmed reportedly tapped a network of “ulemas” (Muslim… Read More

November 13, 2018 @ 3:06 pm By Cali Haan  |  

An increasingly “techno-savvy” ruling elite in North Korea is using a “full range” of computerized devices and tactics, including the issuing of fraudulent ICOs (initial coin offerings), to evade global sanctions and, “…generate revenue for the Kim regime,” Insikt Group reports. Insikt’s cybersecurity researchers have… Read More

November 13, 2018 @ 6:35 am By Erin Hobey  |  

Revolut, fintech unicorn and successful Crowdcube alum, is taking its customer protection to the next level, intending to become a world leader. As part of the platform’s plan, a new fleet of machine learning technology has been unveiled, a fleet that has already reportedly seen… Read More

October 13, 2018 @ 6:53 pm By Cali Haan  |  

Telephone scammers pretending to be representatives from the Canada Revenue Agency (CRA) recently used threats of deportation and a bitcoin ATM to defraud a recent immigrant in Charlottetown PEI out of $65 000, CBC reports. Now a Charlottetown court has ruled that the Bitcoin ATM… Read More

October 11, 2018 @ 12:05 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has taken action against an initial coin offering (ICO) that falsely claimed to be approved by the SEC. The enforcement action was filed against Blockvest LLC and company founder Reginald Buddy Ringgold, III. Additionally, the SEC obtained an emergency… Read More

September 28, 2018 @ 2:07 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged LendingClub Asset Management LLC, and former President Renaud Laplanche with fraud for improperly using fund money to benefit LendingClub.  LendingClub Asset Management, Laplanche, and former CFO Carrie Dolan, also were charged with improperly adjusting fund returns. The… Read More

September 27, 2018 @ 3:33 pm By JD Alois  |  

In January 2018, the Commodity Futures Trading Commission (CFTC) leveled allegations of fraud and misconduct against My Big Coin, an initial coin offering (ICO) that was said to fleece $6 million from investors. My Big Coin fought back when defense counsel said the CFTC had… Read More

September 27, 2018 @ 1:33 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed a complaint against real estate crowdfunding platform iFunding, along with co-founders William Skelley and Sohin Shaw. The complaint alleges that Skelley and Shaw pursued a “fraudulent scheme to misappropriate investor funds.” CI Senior Contributor and securities attorney… Read More

September 27, 2018 @ 1:00 pm By Cali Haan  |  

The SEC told a New York courtroom Tuesday that two defendants accused of selling a fraudulent ICO (initial coin offering) called “Plexcoin” have been ignoring court orders to document their assets and are refusing to “participate meaningfully” in an SEC court action against them. According… Read More

September 24, 2018 @ 7:09 pm By Cali Haan  |  

The CEO of Korean crypto exchange Coinnest, who is reportedly already on trial for embezzling customer funds, has now been indicted for taking a bribe to list a controversial crypto coin called S Coin, Korea IT Times reports. The CEO of S Coin has also… Read More

September 19, 2018 @ 9:06 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has issued a public warning on bogus websites that are soliciting investments in Bitcoin. At least two of these sites is using “fabricated comments” attributed to MAS Chairman and Deputy Prime Minister, Tharman Shanmugaratnam. MAS says the statements attributed to… Read More

September 18, 2018 @ 5:33 pm By Cali Haan  |  

Major-General Khalil Ibrahim Al Mansouri, the Assistant-Commander of the Criminal Investigation Department of the Dubai Police, told attendees at a relevant forum in Dubai this weekend that a lack of awareness around possible criminal uses of cryptocurrencies in the UAE is putting citizens at risk,… Read More

September 12, 2018 @ 9:29 am By Cali Haan  |  

The founder of controversial crypto exchange OKEx has been questioned by Shanghai police regarding a case of suspected ICO fraud, Sina.com reports. The supervisor of the Shanghai Weifang Xincun Police Station, Lu Jun, issued a statement claiming that Shanghai police questioned OKEx founder Winxing (Star)… Read More