Fraud

Two California men agree to plead guilty to fraud charges in connection with $1.8M ICO

Two California men agree to plead guilty to fraud charges in connection with $1.8M ICO

The Justice Department said Friday that two men from Orange County, California, have agreed to plead guilty to securities fraud charges in connection with a $1.8 million initial coin offering. The DOJ’s case centered around the actions of Dropil Inc and its two founders, Jeremy McAlpine and Zachary Matar, who will submit their pleadings in …

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Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud

Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud

Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations that he duped investors around the globe – several of whom are in northern Texas – out of more than $70 million. The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of …

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'Coin Signals' Trader Arrested on $5M Crypto Fund Fraud Charges

‘Coin Signals’ Trader Arrested on $5M Crypto Fund Fraud Charges

The Federal Bureau of Investigation (FBI) on Tuesday arrested Rhode Island cryptocurrency trader Jeremy Spence on allegations that his “Coin Signals” crypto funds bilked investors of $5 million between November 2017 and April 2019. The 24-year-old proprietor of at least three crypto funds allegedly ran their value into the ground, losing millions of dollars for …

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Executives central to the Findora mystery hit with lawsuit alleging fraud and embezzlement

Executives central to the Findora mystery hit with lawsuit alleging fraud and embezzlement

A newly filed lawsuit has shed some light on one of the most bizarre storylines to bubble up from the world of cryptocurrency. Ariel Abittan, a New York-based investor who says he is a shareholder of Eian Labs, a U.S.-based DeFi startup that was rebranded to Findora in 2019, filed the suit on December 24 …

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Third Centra Tech Founder Pleads Guilty to ICO Fraud

Third Centra Tech Founder Pleads Guilty to ICO Fraud

U.S. prosecutors have secured a guilty plea from Sohrab Sharma, a co-founder of the Centra Tech initial coin offering (ICO) fraud. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of …

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Digital Currency Guru of $568M Cyber Fraud Forum Pleads Guilty

Digital Currency Guru of $568M Cyber Fraud Forum Pleads Guilty

Sergey Medvedev, a Russian national who operated a digital currency escrow service for the $568 million payment card fraud forum he founded in 2010, pleaded guilty to racketeering charges in what the U.S. government called its largest ever cyber fraud case.  Medvedev, 33, admitted in his June 26 plea before the U.S. District Court for …

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J.P Koning: Stablecoins Have a Fraud Issue They're Not Addressing

J.P Koning: Stablecoins Have a Fraud Issue They’re Not Addressing

J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and a financial writer at a large Canadian bank. He runs the popular Moneyness blog. Often described as the world’s first distributed computer, Ethereum is run by a network of independent and anonymous nodes. This setup ensures no one can be prevented …

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