Reported by: Stacey Ritzen Despite widespread mockery of the internet and disdain from his own supporters, Donald Trump supposedly sold out of his heavily-maligned NFT digital trading cards in just 12 hours. But could the 45th president be laughing all the way to the bank — or more accurately, offshore bank accounts? That’s what one TikTok user is […]
Reported by: Edward Helmore Almost 14 years to the day since Madoff was arrested and charged with fraud in New York for orchestrating a long-running pyramid scheme, the FTX crypto scandal is being compared to Madoff’s criminal enterprise. Diana Henriques, a financial historian and the author of The Wizard of Lies, a book delving into […]
Reported by: Matt Egan, CNN As federal prosecutors seek to imprison former crypto darling Sam Bankman-Fried, Sen. Elizabeth Warren is attempting to push through Congress a bipartisan crackdown on money laundering in the crypto industry. The Massachusetts Democrat is teaming up with Republican Sen. Roger Marshall of Kansas to introduce new legislation on Wednesday that […]
Reported by: U.S. Department of Justice A federal grand jury in Manhattan returned an indictment today charging Samuel Bankman-Fried, aka SBF, 30, of Stanford, California, with conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election […]
Reported by: SEBASTIAN SINCLAIR Chinese authorities say they’ve arrested 63 people in a self-styled “thunder attack” on a money laundering gang suspected of washing more than $1.7 billion via crypto. In a coordinated bust, the Horqin branch of the Tongliao Public Security Bureau in northeastern China dispatched more than 200 police across 17 provinces and […]
Reported by: Emily Crane Disgraced crypto king Sam Bankman-Fried was arrested by authorities in the Bahamas Monday night after criminal charges were filed by US prosecutors. The 30-year-old was taken into custody after the Bahamian government received formal notification from the US of the charges against him, according to the Office of Attorney General in the […]
Reported by: Angus Berwick, Dan Levine, Tom Wilson Splits between U.S. Department of Justice prosecutors are delaying the conclusion of a long-running criminal investigation into the world’s largest cryptocurrency exchange Binance, four people familiar with the matter have told Reuters. The investigation began in 2018 and is focused on Binance’s compliance with U.S. anti-money laundering […]
Reported by: ARIJIT SARKAR While many crypto fraudsters were able to slip through the cracks in the past, the same does not hold for FTX CEO Sam Bankman-Fried (SBF). Running parallel to the ongoing scrutiny related to FTX frauds, the United States Department of Justice (DOJ) is reportedly investigating a potential fraud that involves SBF siphoning […]
Reported by: Edward Ongweso Jr Over the past few weeks, four civil lawsuits have been filed against Sam Bankman-Fried alleging all manner of fraud, theft, deception, and other crimes. These civil suits are separate from the probes and investigations launched by the Department of Justice, US Attorney’s Office in Manhattan, the state of California, and […]
Reported by: SEBASTIAN SINCLAIR FinCEN, the US Treasury Department’s financial crimes unit, is zeroing in on DeFi regulation as government agencies scramble for greater industry oversight following the ratification of an executive order on digital assets earlier this year. Slotted in between remarks on combating fraud and anti-corruption generally, Himamauli Das, the acting director of […]
Financial Crime News Briefs 