Chinese Billionaire Convicted of Racketeering and Wire Fraud in US

July 20, 2024 Bitcoin.com

bitcoin.com

Exiled Chinese billionaire Guo Wengui, also known as Miles Guo, has been convicted by a U.S. jury on charges including racketeering conspiracy and wire fraud. Guo defrauded followers of over $1 billion, primarily through false investment schemes in cryptocurrency. U.S. Attorney Damian Williams stated that Guo faces decades in prison. His fraudulent activities funded a […]

Australian Court Convicts Bitconnect Promoter for Providing Unlicensed Advice

July 16, 2024 Bitcoin.com

ASIC

John Bigatton, the Australian promoter of Bitconnect, has been convicted by the Sydney District Court for providing unlicensed financial advice, violating section 911B(1) of the Corporations Act 2001, the Australian Securities and Investments Commission (ASIC) announced Monday. Between August 2017 and January 2018, Bigatton promoted Bitconnect through seminars and social media, claiming significant returns on […]

Singapore Court Orders Multichain to Pay Fantom Foundation $2.19 Million

July 10, 2024 Bitcoin.com

Singapore Court Orders Multichain to Pay Fantom Foundation .19 Million

bitcoin.com

The High Court of Singapore has awarded Fantom Foundation Ltd. damages totaling $2.19 million in a case against Multichain Foundation Ltd. and Multichain Pte Ltd. This ruling followed a default judgment due to Multichain’s failure to deliver 4.175 million FTM tokens or their equivalent value. Singapore Court Rules in Multichain Case Fantom Foundation Ltd. (the […]

Paxful Co-Founder Pleads Guilty to AML Conspiracy — Faces up to 5 Years in US Prison

July 9, 2024 Bitcoin.com

AML charges

A Paxful co-founder has pleaded guilty to conspiracy charges for failing to maintain an effective anti-money laundering (AML) program on the peer-to-peer cryptocurrency platform. This led to various criminal activities being conducted on the platform, according to the U.S. Department of Justice (DOJ). He faces up to five years in prison and will step down […]

Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin

June 30, 2022 Bitcoin.com

agency

Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurrencies, the head of the agency announced. Hundreds of thousands of Russians take part in crypto deals abroad, the top regulator also reported to the Russian president. Russian Authorities Initiate 20 Criminal Cases Linked to Crypto Assets The Federal Financial Monitoring Service of the Russian Federation, […]

Crypto-Related Lawsuits Rising in Russia, Criminal Cases Increase by 40%

June 12, 2022 Bitcoin.com

bitcoin.com

Courts in Russia are hearing a growing number of cases around crypto assets, a new study has shown. About two-thirds of them have been launched under provisions of the country’s Criminal Code but civil cases represent a large share as well. Criminal Cases Involving Cryptocurrency in Russia Near 1,000 in 2021 Lawsuits related to cryptocurrency, […]

US SEC Has Brought 75 Enforcement Actions on Crypto Industry

May 13, 2021 Bitcoin.com

bitcoin.com

The U.S. Securities and Exchange Commission (SEC) has brought 75 enforcement actions against companies and individuals in the crypto industry so far, according to a new report by Cornerstone Research. The agency also brought 19 trading suspension orders against digital asset market participants, and 43 were litigated in U.S. district courts. 75 Crypto Enforcement Actions […]

court cases