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The United States Commodity Futures Trading Commission (CFTC) and Federal Trade Commission (FTC) have filed parallel lawsuits against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital.In an Oct. 12 announcement, the CFTC said it had filed a lawsuit in U.S. District Court for the Southern District of
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Hong Kong’s police force has raised the alarm after 11 Hong Kong-based Binance customers were targeted in a wave of phishing scams sent through text messages. Hong Kong police warned users of the scam in an Oct. 9 post to its Facebook page dubbed “CyberDefender.”“Recently, fraudsters posing as Binance sent text
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Adam Yedidia, Sam Bankman-Fried’s MIT buddy and former FTX developer, resumed his immunity-protected testimony on Oct. 5, sharing first-hand accounts of his tenure at the crypto exchange where he lived in a $35 million condo allegedly purchased with commingled customer cash. Department of Justice (DoJ) prosecutors filed a forfeiture notice for
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The trial of FTX co-founder Sam Bankman-Fried for a multibillion-dollar fraud case has a diverse jury panel consisting of various professions and backgrounds, including a retired banker, a pediatric nurse, and a special education teacher. The panel was selected on the second day of the trial in Manhattan after narrowing down
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“While the existence of a law might be relevant to establish a statutory duty of care, the absence of regulation is not relevant to whether money was, in fact, entrusted to the defendant’s care by his victims,” the DOJ filing said, adding that the existing criminal rulebook is sufficient. “There
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Former Celsius CEO Alex Mashinsky’s trial date has been set for Sept. 17, 2024 in a pre-trial hearing on Oct. 3. The news comes after a former colleague at Celsius Network, Roni Cohen-Pavon, pleaded guilty to fraud charges and agreed to work with prosecutors in the upcoming trial. Upcoming charges of fraud In
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CNA, also known as the Continental Casualty Company, has “unjustifiably failed to make timely payment on Mr. Bankman-Fried’s claims as required by the Policy,” said the filing, adding that those alleged breaches “have caused, and threaten to cause, substantial and irreparable harm to Mr. Bankman-Fried for which there is no
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U.S. Representative Don Beyer has introduced a new bill, the Off-Chain Digital Commodity Transaction Reporting Act. This bill aims to safeguard investors from manipulation, disputes, and fraud in the crypto market. According to the new proposal, every trading platform must report all transactions to a repository registered with the Commodity Futures Trading
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Authorities in Hong Kong and Macau have recently revealed arrests connected to the JPEX crypto exchange fraud case and highlighted that they are currently tracking down several other suspected figures.On Sept. 29, local media outlet Radio Television Hong Kong reported that two Hong Kong men involved in the JPEX case
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Marco Ruiz Ochoa pleaded guilty to one count of conspiracy to commit wire fraud in the Southern District Court of New York on Sept. 27 in relation to Ponzi scheme perpetrated by the IcomTech company. Ochoa was CEO of IcomTech from its founding in 2018 to 2019.According to a
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