Latest update — Former FTX founder Sam Bankman-Fried trial [Day 1]
The former FTX CEO faces seven counts of conspiracy and fraud. A New York court will decide his fate. Go to Source
Fraud
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Sam Bankman-Fried sues insurance company for defense costs as trial opens
SBF has directors and officers coverage through FTX Trading parent Paper Bird, but now that two companies have paid out $10 million, the third in line is balking, the suit claims. Go to Source
DOJ readies witnesses in Bankman-Fried trial, spotlight on FTX assets
This initiative also encompasses their comprehension of Sam Bankman-Fried’s remarks and conduct, particularly regarding FTX’s asset management. Go to Source
Former CEO of sham crypto miner IcomTech pleads guilty of wire fraud for Ponzi scheme
Former IcomTech head Marco Ochoa is the latest crypto fraudster to face charges, while the CFTC charged another company and its head. Go to Source
Hong Kong police recover $11M worth of assets in JPEX case: Report
The JPEX scandal has grown to become one of the largest fraud cases in the country, with over 2,300 victims and losses estimated at over $175 million. Go to Source
Hong Kong to tighten crypto regulation in wake of JPEX fraud case
The JPEX fraud saga began last week when SFC revealed they have received 1,400 complaints against the exchange regarding fraud, withdrawal freeze and decline in wallet balances. Go to Source
Government objects to ‘unnecessary,’ ‘prejudicial’ SBF jury selection questions
The U.S. attorney sees no reason for potential jurors to discuss effective altruism or ADHD, among other things, before trying SBF. Go to Source
OneCoin co-founder Greenwood gets 20 years in US jail for fraud, money laundering
Karl Greenwood will also have to pay back the $300 million he made in commissions in the OneCoin pyramid scheme. Go to Source
Petition hopes to stop US government agencies from using Chainalysis’ forensics
According to the petition on Change.org, Chainalysis’ unproven technology can lead to an assortment of privacy violations. Go to Source
CFTC fines Mirror Trading $1.7B for Bitcoin-related forex fraud
The CFTC has brought or resolved ten fraud cases involving digital assets or forex since June 2023, Commissioner Kristin Johnson said. Go to Source
