The former CEO of a failed bank in Elkhart, Kansas will spend 24 years behind bars after funneling millions of depositors’ money into a cryptocurrency scheme. The Justice Department says that between May and July last year, Shan Hanes, who was then serving as CEO of Heartland Tri-State Bank (HTSB), sent a total of $47.1 […]
The post Ex-CEO of Collapsed Bank Sentenced to Over 24 Years in Prison for Embezzling $47,100,000 in Crypto Scheme: DOJ appeared first on The Daily Hodl.
The U.S. Department of Justice (DOJ) has initiated a Corporate Whistleblower Awards Pilot Program to encourage reporting of corporate criminal activities. This three-year program targets financial institutions, including cryptocurrency businesses, to enhance the detection and prosecution of corporate crimes. Whistleblowers who provide non-public information leading to forfeitures over $1 million are eligible for awards. DOJ […]
According to onchain data, a Department of Justice (DOJ) labeled bitcoin wallet transferred 29,799.99 BTC, valued at just over $2 billion. This move by the U.S. government follows Germany’s sale of its bitcoin and a growing belief among U.S. politicians that seized coins should be held as reserves. DOJ-Labeled Wallet Transfers More Than 29,000 Bitcoins […]
Several federal agencies, including the Federal Bureau of Investigation (FBI) and the U.S. Securities and Exchange Commission (SEC), convened at a Fraud Disruption Conference to combat crypto scams, particularly the “pig butchering” fraud that siphons billions from Americans annually. The meeting brought together over 300 officials from 15 federal agencies to strategize against this pervasive […]
Crypto exchange Bitmex has pleaded guilty to violating the Bank Secrecy Act (BSA) by failing to maintain an adequate anti-money laundering (AML) program, resulting in the company being a vehicle for large-scale money laundering. The DOJ announced this plea following previous legal actions and settlements. Bitmex says: “We have accepted the BSA charge, will seek […]
Crypto exchange platform BitMEX is pleading guilty to violations of the Bank Secrecy Act, according to the Department of Justice (DOJ). In a new press release, the DOJ says that BitMEX, founded by crypto entrepreneur Arthur Hayes in 2014, violated the law by neglecting to establish and maintain an adequate anti-money laundering (AML) protocol. BitMEX […]
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The co-founder and former director of peer-to-peer cryptocurrency marketplace Paxful has pleaded guilty to charges related to the platform’s failure to gather sufficient know-your-customer (KYC) information from its users. Paxful is a virtual currency platform and money transmitting business where users traded crypto assets in exchange for other items. In a statement, the U.S. Department […]
The post Founder of Peer-to-Peer Crypto Exchange Paxful Pleads Guilty Over Anti-Money Laundering Program Failures: DOJ appeared first on The Daily Hodl.
The U.S. Department of Justice says a former bank manager has admitted to stealing over a quarter million dollars from customers to fund his own spending habits. The DOJ says 53-year-old Eric Jason Schouest of Plaquemine, Louisiana, has pleaded guilty to embezzlement and bank fraud. Prosecutors say Schouest admitted to using his power as a […]
The post Bank Executive Steals $250,000 From Customers, Directly Accessing Bank Accounts To Fund His Lifestyle: US Department of Justice appeared first on The Daily Hodl.
The Department of Justice (DOJ)’s U.S. Marshals Service has selected crypto exchange Coinbase to provide crypto custody and trading services. The U.S. government’s contract, valued at over $32 million, aims to streamline the management and disposal of seized cryptocurrencies, ensuring professional and lawful handling. Coinbase Wins $32M Contract With US Marshals Service Crypto exchange Coinbase […]
The U.S. Department of Justice (DOJ) announced on Wednesday that Nikita Andreevich Sklyuev, also known as Valeriy Dorojkin, has been extradited from Ukraine and arraigned in Buffalo, NY, on charges of wire fraud and fraudulent use of an unauthorized access device. Sklyuev is accused of submitting a malicious cryptocurrency wallet app, “EOSIO Wallet Explorer,” to […]