Crypto firm pleads guilty to wash trading FBI-made token
CLS Global admitted to helping wash trade and manipulate the market for a token made by the FBI designed to draw in those engaged in fraudulent crypto activities.
A crypto financial services firm has agreed to plead guilty to US charges of helping to manipulate markets for a crypto token created by the FBI aiming to find fraud.
The United Arab Emirates-based CLS Global agreed to plead guilty to two counts of fraudulent manipulation of cryptocurrency trading volumes and wire fraud, according to a Jan. 21 plea deal.
The Massachusetts US Attorney’s Office said that CLS would pay a $428,059 fine and forfeit all funds held in several accounts on crypto exchanges Binance and KuCoin.
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Author: Stephen Katte
