The brother of a former Coinbase employee allegedly profited from an insider trading scheme and now has 20 years to repay the funds.
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Category: Restitution
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Bitconnect Victims to Receive Over $17 Million in Restitution From Ponzi Scheme
More than $17 million in restitution will be distributed among investors in the pyramid scheme Bitconnect under a court order in the United States. The notorious crypto investment scheme defrauded thousands of people around the world. Bitconnect Investors From Dozens of Countries to Be Paid Back Millions of US Dollars A total of over $17 […]Powered by WPeMatico
800 victims of ‘massive’ Bitconnect fraud to receive $17M restitution
The millions will be distributed among the select number of victims, but thousands more were impacted by the $2.4 billion fraudulent scheme.
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The CFTC Asks Court to Issue Fines in Excess of $100M Against Mastermind of a Fraudulent Crypto Scheme
The Commodity Futures Trading Commission (CFTC) has filed a motion with the New York Southern District Court that seeks heavy penalties against Michael Ackerman, the mastermind of a fraudulent cryptocurrency scheme. According to the motion, the U.S. agency wants the court to order Ackerman to pay $27 million in restitution plus a civil penalty of […]Powered by WPeMatico
How Bitcoin of America’s Robust Compliance Program Made Possible the Restitution of Half a Million Dollars to Fraud Victims
Robust and effective compliance programs for virtual asset exchanges such as Bitcoin of America, which owns and operates a crypto exchange platform as well as a nationwide network of bitcoin ATM locations, isn’t simply a matter of operating a system for CIP, KYC, and AML procedures. An interview with Bitcoin of America’s attorney William Suriano […]
The post How Bitcoin of America’s Robust Compliance Program Made Possible the Restitution of Half a Million Dollars to Fraud Victims appeared first on Bitcoin News.
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Mt. Gox Restitution Process Frozen Due to One Man’s $16B Claim
On Jan. 31, Mt. Gox victims were enraged to hear that the founder of Coinlab, Peter Vessenes, is still causing problems for the former exchange’s rehabilitation process. According to information published by public attorney Daniel Kelman, Coinlab filed a claim for ¥1.7 trillion yen (US$16 billion) which is over and above every claimant’s filing. Also […]
The post Mt. Gox Restitution Process Frozen Due to One Man’s $16B Claim appeared first on Bitcoin News.
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This Guy Is Fighting a Legal Battle with the CFTC over Bitcoin Classification
A few months ago the U.S. Commodity Futures Trading Commission (CFTC) charged a Staten Island-based company called Cabbage Tech with ‘fraud and misappropriation’ of funds based in Bitcoin and Litecoin. According to the CFTC, it revealed it had charged Patrick McDonnell and his company Cabbage Tech for crimes associated with allegedly promising big returns on […]
The post This Guy Is Fighting a Legal Battle with the CFTC over Bitcoin Classification appeared first on Bitcoin News.
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Coincheck Announces JPY Withdrawals Will Resume Next Week
This Friday the Japanese exchange Coincheck has announced the resumption of yen (JPY) withdrawals will begin next week. The news follows the trading platform halting operations on the 26th of January. That day Coincheck was hacked and lost a total of 523,000,000 XEM, but the exchange promised to pay back the 260,000 customer accounts that […]
The post Coincheck Announces JPY Withdrawals Will Resume Next Week appeared first on Bitcoin News.
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