8 / 12 Relevant items tagged with #Fraud

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SEC chief accountant warns accountants about liabilities when auditing crypto firms

[Jul 27, 2023 3:20 PM] Paul Munter says making or allowing misleading statements can have serious consequences for accounting firms and individual accountants.

Prosecutors Want Sam Bankman-Fried Jailed Ahead of Trial

[Jul 27, 2023 8:00 AM] U.S. prosecutors have asked a federal judge to put crypto exchange FTX founder Sam Bankman-Fried in jail over alleged witness tampering before his trial starts in October. While requiring the prosecution to formalize the request and giving the…

Crypto Must Take Fraud Prevention Seriously: Crypto Long & Short

[Jul 26, 2023 10:00 AM] Countries that enable regulatory technology while avoiding reliance on legacy bureaucratic approaches will be a breakaway leader in cryptocurrencies.

CFTC charges Tennessee couple over 'Blessings of God Thru Crypto’ scheme

[Jul 25, 2023 10:34 PM] Despite having no trading experience a Tennessee couple convinced 100 people to hand over their money for a uniquely named crypto investment pool.

FTX’s Bankman-Fried seeks gag order for all witnesses in criminal case

[Jul 24, 2023 12:02 AM] Lawyers representing SBF have agreed to a gag order preventing him from making comments that could sway his criminal trial but says it should apply to other witnesses too.

FTX Sues SBF, Former Execs to Recover Over $1 Billion

[Jul 21, 2023 11:30 PM] Crypto exchange FTX is trying to regain $1 billion in a lawsuit against founder Sam Bankman-Fried (SBF) and some former executives. FTX’s new management argues the funds were misappropriated through dubious deals and transactions made before the…

National Australia Bank joins crypto exchange boycott, cites ‘scams’

[Jul 17, 2023 2:09 AM] National Australia Bank is the latest bank to announce blocks on certain cryptocurrency exchanges, citing the high risk of scams.

Bitcoin ETFs: When Will the SEC Say ‘I Do?’

[Jul 14, 2023 5:30 AM] While bitcoin enthusiasts anxiously await the Securities and Exchange Commission’s (SEC) decision on Blackrock’s spot bitcoin ETF proposal, it’s worth delving into the bigger picture. The following opinion editorial was written…

Iowa Resident Scammed of $6,600 in Bitcoin ATM Scheme, Police Launch Investigation

[Jul 9, 2023 10:30 PM] On July 7, 2023, a Clive, Iowa resident fell victim to a scammer posing as a Polk County sheriff’s deputy, who coerced the individual into depositing $6,600 into a bitcoin automated teller machine (ATM). The Clive Police Department insists…

Gemini Files Lawsuit Against Digital Currency Group and Barry Silbert Alleging Fraud and Deception

[Jul 7, 2023 11:30 AM] After Gemini co-founder Cameron Winklevoss published an open letter to Digital Currency Group (DCG) CEO and founder Barry Silbert, threatening legal action if the firm failed to respond by July 7, Winklevoss announced on Friday that his company had…

Mastercard AI-powered tool to help banks fight fraud

[Jul 6, 2023 6:36 AM] Mastercard revealed a new AI-driven tool available to banks for collecting insights to predict scams and frauds involving real-time payments.

Belarus Looks to Ban Peer-to-Peer Crypto Transactions to Reduce Fraud

[Jul 3, 2023 9:14 AM] The east European country is working on legislation to make it harder for fraudsters to get their hands on the proceeds of crime.

CFTC issues $54M default judgment against trader in crypto fraud scheme

[Jun 28, 2023 11:30 AM] As a result of the judgment, the defendant is also now prohibited from engaging in any trading activities within markets regulated by the CFTC and is barred from registering with the regulatory body.

Former NYSE Broker to Pay $54M to Settle CFTC Crypto Fraud Charges

[Jun 28, 2023 9:26 AM] Michael Ackerman pleaded guilty in 2021 to charges of defrauding around 150 investors for $33 million in a digital asset trading scheme.

FTX Co-Founder SBF and Inner Circle Accused of Lavish Spending and Fraud in Latest Bankruptcy Report

[Jun 27, 2023 6:00 PM] On Monday, FTX released a second investigative report accusing co-founder Sam Bankman-Fried and senior executives of commingling customer deposits and corporate funds and misusing them. The report alleges that they spent $243 million on luxury…

FTX has recovered $7B in assets so far, has almost $2B to go to cover misappropriations

[Jun 26, 2023 2:32 PM] Tracing funds is highly challenging, according to the FTX Debtors’ second interim report, and there is no doubt that that was by design.

FTX Seeks to Claw Back $700M in Lawsuit Over Alleged Funds Misappropriation and Influence-Building Scheme

[Jun 24, 2023 4:30 AM] According to a lawsuit filed this week with the U.S. Bankruptcy Court for the District of Delaware, FTX lawyers are seeking to claw back $700 million from K5 Global Technology, its subsidiaries, and the firm’s founders. The attorneys allege…

CFTC Takes Action Against New York Resident for $21M Crypto Pooling Scam

[Jun 23, 2023 2:17 AM] The Commodity Futures Trading Commission (CFTC) has filed an enforcement action against a New York city resident, William Koo Ichioka, for fraudulently misappropriating over $21 million from over 100 commodity pool participants' funds.

FTX seeks to claw $700M from Bankman Fried friends and affiliated funds

[Jun 22, 2023 5:30 PM] After a Hollywood dinner party, hundreds of millions of dollars of “avoidable” transfers were sent from Alameda to investment firm K5 Global, the suit alleges.

Crypto Sites Are Naming Fake Dispute Resolution Organizations: Canada’s Securities Regulator

[Jun 21, 2023 3:22 AM] Most organizations the regulator mentions have little or no online presence and, with one exception, aren’t working with any major crypto platforms.

US Judge Considers if Crashed Coins of Terraform Labs Were Securities

[Jun 16, 2023 3:30 PM] A judge in the United States considered on Thursday whether the cryptocurrencies created by Terraform Labs were securities. The failed blockchain firm and its founder, Do Kwon, have asked the court to dismiss a case filed by the U.S. Securities and…

Crypto Exchange Thodex Founder Denies Fraud Charges in Turkey

[Jun 14, 2023 4:30 AM] The founder of failed cryptocurrency exchange Thodex has denied all fraud-related allegations in a Turkish court. The crypto entrepreneur was handed over to Turkey by Albanian authorities earlier this year to face charges for his leading role in…

SBF seeks to sever new charges from trial, says proceedings may take ‘years’

[Jun 13, 2023 2:16 PM] The U.S. cannot try Sam Bankman-Fried for the charges until a lengthy appeals process in the Bahamas has been exhausted, defense attorneys stated.

Sam Bankman-Fried's Bahamas Litigation May Take ‘Months or Years,’ His Counsel Says

[Jun 13, 2023 12:23 AM] The FTX founder’s lawyers argue that a new Supreme Court judgment shows that he has not committed fraud.

US Justice Department charges two men in Mt. Gox hack

[Jun 9, 2023 2:30 PM] The Justice Department claims Alexey Bilyuchenko and Aleksandr Verner took control of a Mt. Gox server and stole 647,000 Bitcoin from the exchange.

Do Kwon Moved $29 Million Worth of Coins Since Arrest, Prosecutor Says

[Jun 8, 2023 2:30 PM] Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly…

Australia's Commonwealth Bank Will Partially Restrict Payments to Crypto Exchanges

[Jun 8, 2023 6:30 AM] The Australian bank announced on Thursday that will decline "certain payments" to crypto exchanges or hold them for a period of 24 hours.

Meta’s Zuckerberg grilled by senators over ‘leak’ of LLaMA AI model

[Jun 6, 2023 11:14 PM] The senators weren’t happy with the “seemingly minimal” protections to fight against fraud and cybercrime in Meta’s AI model.

SBF upset by criminal trial's late evidence while FTX seeks sale of AI stock

[Jun 6, 2023 10:47 PM] Over 3.6 million documents have yet to be produced by prosecutors in the criminal trial of Sam Bankman-Fried, according to his lawyers.

Gate.io denies liquidity problems after Multichain CEO goes missing

[May 31, 2023 3:58 PM] Some Twitter users posted transactions showing large inflows of MULTI and FTM to Gate.io, leading them to perceive a connection between the two organizations.