Fraud Financial News

05.10 / 06:39

business regulation Fraud FTX Court Trial Sam 12 people will decide the fate of former FTX CEO Sam Bankman-Fried

A pregnant physician’s assistant, a train conductor and a retired investment banker are reportedly among the 12 individuals who will eventually decide on the fate of former FTX CEO Sam Bankman-Fried.

04.10 / 10:11

Law regulation Scams Fraud Ponzi scheme Bitcoin Crypto Ponzi scheme AirBit: All but one exec now sentenced

The United States District Court for the Southern District of New York is progressing with the sentencing procedure for key individuals behind the cryptocurrency Ponzi scheme AirBit Club.

03.10 / 22:07

regulation Fraud FTX Trial FTX Token Sam Latest update — Former FTX CEO Sam Bankman-Fried trial [Day 1]

Cointelegraph reporters are on the ground in New York for the trial of former FTX CEO Sam Bankman-Fried. As the saga unfolds, check below for the latest updates.

03.10 / 19:57

regulation Fraud FTX Insurance Trial Sam Costs Sam Bankman-Fried sues insurance company for defense costs as trial opens

As the final preparations for the trial of Sam Bankman-Fried were underway in Manhattan, attorneys for the embattled former FTX CEO were filing a suit against the Continental Casualty insurance company in the United States District Court of Northern California. That company has allegedly provided Paper Bird and its subsidiary FTX Trading directors and officers (D&O) insurance. The suit was filed by Bankman-Fried as an individual.

01.10 / 07:35

Law regulation Fraud FTX DOJ readies witnesses in Bankman-Fried trial, spotlight on FTX assets

The Department of Justice (DOJ) has affirmed its plan to summon former FTX clients, investors, and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX executive. This will shed light on how these individuals viewed their interactions with Bankman-Fried and his company.

30.09 / 08:11

Law regulation Fraud FTX Court Sam Sam Bankman-Fried’s lawyer challenges US gov’t proposed jury questions

The lawyer representing Sam Bankman-Fried, the former CEO of the now-defunct crypto exchange FTX, has claimed that the proposed jury questions for the upcoming fraud trial will elicit biased responses.

29.09 / 12:11

regulation Fraud fraud case Hong Kong and Macau police seize over $2.8M related to JPEX fraud case

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.

29.09 / 05:43

business regulation Fraud FTX Court Bankruptcy Trial Sam How long could Sam Bankman-Fried go to jail for?

FTX founder Sam Bankman-Fried, once described as the “golden boy” of crypto, is set to stare down a jury next week for his role in the collapse of his $32 billion crypto exchange.

27.09 / 22:41

Mining CFTC regulation Fraud Ponzi scheme Former CEO of sham crypto miner IcomTech pleads guilty of wire fraud for Ponzi scheme

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.

27.09 / 16:01

Blockchain regulation Fraud Bitcoin Regulation Bitcoin Hong Kong police recover $11M worth of assets in JPEX case: Report

The Secretary for Security of Hong Kong, Chris Tang Ping-keung, has vowed to bring justice to people who fell victim to the JPEX crypto exchange fraud, local media has reported. In a press conference on Wednesday, Sept. 27, the security chief’s office said police are actively looking for the key operators behind the JPEX crypto exchange that orchestrated the country’s largest digital asset fraud.

27.09 / 02:39

business Law regulation Fraud FTX Court Fried Sam Sam Bankman-Fried's political donations can be surfaced in trial, rules judge

Prosecutors from the United States Department of Justice will be allowed to surface the details of Sam Bankman-Fried’s political donations as the evidence is directly relevant to his fraud charges, ruled U.S. District Judge Lewis Kaplan.

25.09 / 18:13

Fraud JPEX JPEX scandal Analysts Believe JPEX Scandal Will Have Significant Negative Impact on Retail Sentiment

The JPEX scandal, regarded as potentially the largest financial fraud in Hong Kong's history, has not only harmed thousands of victims but has dealt a significant blow to retail trust in cryptocurrencies in the jurisdiction.

24.09 / 04:31

Law regulation Fraud FTX Court Bankruptcy FTX's former external legal team disputes involvement in fraud allegations

A law firm that previously provided services to the now-defunct cryptocurrency exchange FTX has refuted a class-action lawsuit brought against them claiming that it assisted in the exchange's alleged fraud.

20.09 / 06:09

regulation Scams Fraud Deutsche Bank Former Deutsche Bank exec pleads guilty over ‘R3 Crypto Fund’ scheme

A former Deutsche Bank investment banker, who was charged earlier this year in relation to a fraudulent cryptocurrency trading scheme, has pleaded guilty to investment fraud — and could face up to 30 years in prison.

20.09 / 00:13

Blockchain regulation SEC Scams Fraud Asia Philippines SEC teams up with US counterpart to combat crypto fraud

The Philippines Securities and Exchange Commission (SEC) has teamed up with its United States counterpart, as well as the Asian Development Bank to crack down on criminals using cryptocurrencies to commit fraud and other financial crimes.

19.09 / 08:37

Blockchain regulation security Fraud fraud case Hong Kong to tighten crypto regulation in wake of JPEX fraud case

Hong Kong regulators are looking to tighten the noose around the crypto market after the arrest of six individuals following allegations of fraud around an unlicensed crypto exchange called JPEX.

15.09 / 22:07

regulation Fraud FTX Money laundering Trial Government objects to ‘unnecessary,’ ‘prejudicial’ SBF jury selection questions

On Sept. 15, the United States government responded to questions the defense has suggested posing to potential jurors during their selection for the case against former FTX CEO Sam Bankman-Fried. He faces seven charges of fraud and money laundering in connection with the collapse of the cryptocurrency exchange that could land him in prison for decades.

13.09 / 02:43

business Law regulation Fraud us government FTX Court SBF’s lawyers want to quiz jurors on crypto, altruism and ADHD

Potential jurors in the upcoming criminal trial of former FTX CEO Sam Bankman-Fried could be asked their thoughts on crypto, effective altruism and attention-deficit disorder as his lawyers want to weed out those they consider unsuitable.

12.09 / 20:17

regulation Fraud Money laundering OneCoin OneCoin co-founder Greenwood gets 20 years in US jail for fraud, money laundering

Karl Greenwood, co-founder of OneCoin with Ruja Ignatova, was sentenced in the United States to 20 years in prison and ordered to pay $300 million on Sept. 20. Ignatova remains at large.

12.09 / 18:25

regulation Fraud crimes Tech Analysis Petition hopes to stop US government agencies from using Chainalysis’ forensics

A petition was created on Change.org on Sept. 12 to oppose the use of Chainalysis forensic services by federal agencies. The petition questioned Chainalysis’ accuracy and raised legal issues related to the activities of the blockchain data analysis firm.

11.09 / 05:23

Ethereum defi Altcoin security Fraud layer2 Arbitrum Arbitrum's fraud proofs haven't been used in the two years since it launched

Not a single fraud proof has been submitted on Arbitrum since it first launched its mainnet with the built-in security feature in August 2021, according to Ed Felten, co-founder and chief scientist of the Arbitrum-building Offchain Labs.

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