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The U.K.’s. HM Revenue & Customs (HMRC) has made its first non-fungible token (NFT) seizure. British authorities also seized some crypto and arrested three people in a fraud case involving 250 allegedly fake companies. “Our first seizure of a non-fungible token serves as a warning to anyone who thinks they
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Seven executives of the collapsed South Korean scam cryptocurrency exchange, V Global, were recently handed lengthy jail sentences as punishment for their role in running one of the country’s biggest crypto frauds. Verdict Sets New Benchmark Seven former masterminds of the now-defunct scam crypto exchange, V Global, were recently given jail
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According to the charges, Reichenthal and Levine engaged in two fraudulent schemes. In the first one, in 2018, Levine induced a man to wire over $3 million to Reichenthal from an over-the-counter crypto broker to fund the purchase of bitcoin, which was never made. In the second, in 2019, Levine
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The former CEO was sentenced to 22 years in prison. Original Source
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The IRS is hot on the trails of cryptocurrency and non-fungible tokens. They see these as fertile grounds for fraud, including tax evasion, market manipulation, and money laundering. Unfortunately, whether it’s a celebrity or not, people are always susceptible to getting into the trap. The popularity of digital assets has created
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A top special agent from the Internal Revenue Service has told a conference that NFTs and crypto are the “future” but highlighted that fraud and manipulation is still rampant in the space. Ryan Korner from the IRS Criminal Investigation’s Los Angeles field office made the comments virtual event held on
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In the suit, ConsenSys said that it allowed Gupta to resign instead of firing her and "offered to allow Gupta to keep the compensation paid and accrued during her short tenure," but that Gupta had rejected the offer – instead demanding that ConsenSys "pay her millions of dollars" to buy
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The U.S. Securities and Exchange Commission (SEC) has charged an Australian citizen who called himself the “Man behind the Machine” in a fraudulent crypto scheme that raised almost $41 million. He and his companies made “materially false and misleading statements in connection with an unregistered offer and sale of digital
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“As alleged, Sproule and Crowd Machine misled investors about how they were using ICO proceeds, spending funds on an entirely unrelated scheme,” Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit said in the statement. “We will continue to hold accountable issuers of digital asset securities who fail to
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After a yearslong saga of accusations, investigations and angry denial, erstwhile business media darling Elizabeth Holmes has reached the final stage of investor grief: conviction. A jury late Monday found that she defrauded investors in Theranos, the health-testing startup she founded and led. Optimists may think of the verdict as
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