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The owners of a cryptocurrency firm that raised approximately $24 million from more than 13,000 investors have pleaded guilty to tax evasion. “These crypto-savvy defendants exploited an emerging technology, lying to their investors, pocketing the proceeds, and concealing the income from the IRS,” said acting U.S. Attorney Chad Meacham. Crypto Firm’s
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Less than a year after Bitqyck’s 2016 ICO, Bise and Mendez began promoting a new coin, BitqyM, that was said to power bitcoin mining operations in Washington state. Bise and Mendez admitted in plea papers that no such operations ever existed, and they had unsuccessfully tried to contract a third-party
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More than a year later, while it is yet unclear what specifically has changed, something definitely has. When defendants admit crimes, the court has to be satisfied they know what is going on and are not coerced. Griffith had to make the admission in his own words. In that moment,
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American programmer and developer Virgil Griffith pleaded guilty today to violating U.S. sanctions law. Griffith created Wikipedia indexing tool WikiScanner, co-designed the Tor2web proxy, and was a senior research scientist with the Ethereum Foundation who at one point led special projects for the platform. The North Korean Crypto Conference A federal grand
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Ethereum (ETH) developer Virgil Griffith has pleaded guilty to a federal charge that he conspired with North Korea to violate United States sanctions law. On Monday, Griffith pleaded guilty in New York for conspiring to violate the International Emergency Economic Powers Act, which forbids U.S. citizens from exporting technology and intellectual
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The leader of a cryptocurrency scheme that swindled over $30 million from investors has pleaded guilty to fraud, the U.S. Department of Justice (DOJ) said. He now faces a maximum sentence of 20 years in prison. Leader of $30M Crypto Scheme Pleads Guilty to Fraud The U.S. Department of Justice (DOJ) announced
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The man behind a multi-million dollar cryptocurrency scam has pleaded guilty to fraud this week according to the U.S. Department of Justice.Ohio man Michael Ackerman could face up to 20 years inside following the guilty plea for defrauding investors in a crypto scam he orchestrated in 2017. The too good
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The $2 billion crypto fraud scheme Bitconnect and its founder have been charged in the U.S. In a parallel enforcement action, a Bitconnect director and top promoter has pleaded guilty to criminal charges in the U.S. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud ever charged criminally,”
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Former director and promoter of the notorious Bitconnect Ponzi scheme, Glenn Arcaro, has pled guilty to fraud charges related to his role in the now-defunct crypto exchange and lending platformHe has been ordered to pay back $24 million to investors.In a parallel action in the long-running saga the United States
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