Reported by The Associated Press Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson, with U.S. Attorney Matthew Graves for the District of Columbia, speaks during a news conference on Tuesday at the Department of Justice in Washington. Manuel Balce Ceneta/AP WASHINGTON — A British tobacco company has agreed to pay more […]
Reported by Torey Akers The first-ever insider trading trial in the US involving digital assets is getting underway, and the focus is on art, not stocks. A former product manager at OpenSea, the largest NFT(non-fungible token) marketplace, has been accused by the Manhattan District Attorney’s office of violating confidentiality procedures in order to sell his […]
Reported by Lubomir Tassev Following multiple attempts in the past months, legal representatives of a group of FTX investors have managed to serve Shaquille O’Neal in a suit against several celebrities who promoted FTX. The latter was one of the largest cryptocurrency exchanges before it filed for bankruptcy. Plaintiffs in the class-action lawsuit served Shaq outside his […]
Reported by Pete Syme Taylor Swift avoided signing a $100 million sponsorship deal with FTX because she was the only celebrity to question the crypto exchange, according to the lawyer handling a class-action lawsuit against several FTX promoters. Adam Moskowitz appeared on “The Scoop” podcast to discuss the lawsuit, and said that the plaintiffs are seeking over $5 billion from FTX’s celebrity endorsers, […]
Reported by the ASSOCIATED PRESS A Fugees rapper on trial in a multimillion-dollar campaign finance and foreign influence case was trying to reinvent himself as he entered the political arena, not break any laws, defense attorneys said Monday. Prakazrel “Pras” Michel became a best-selling, Grammy-winning artist with the 1990s hip-hop group the Fugees, but in […]
Reported by Dave Michaels and Mengqi Sun Bittrex Inc. once ranked as the country’s biggest platform for trading digital assets. Its rocky history at home is coming to an end with a regulatory threat and a decision to leave the U.S. for good. The Securities and Exchange Commission’s enforcement staff told Bittrex in March it […]
Reported by Erin Griffith Faking it is over. That’s the feeling in Silicon Valley, along with some schadenfreude and a pinch of paranoia. Not only has funding dried up for cash-burning start-ups over the last year, but now, fraud is also in the air, as investors scrutinize start-up claims more closely and a tech downturn […]
Reported by Kaley Schafer of Ballard Spahr LLP On March 30, 3023, the Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis focusing on business email compromise (BEC) trends and patterns in the real estate sector (referred to as “RE BEC”). The report is required under Section 6206 of the Anti-Money Laundering Act of 2020 (AMLA). This section […]
Reported by Mathew Di Salvo The U.S. Department of the Treasury has warned of criminals using decentralized finance (DeFi) protocols but admitted that money launderers and terrorists typically prefer fiat currencies over crypto. In its “Illicit Finance Risk Assessment of Decentralized Finance” report released today, the U.S. body said that ransomware crooks, thieves, scammers and other criminals […]
Reported by SHALINI NAGARAJAN Source: Shutterstock / Tada Images, modified by Blockworks The Securities and Exchange Commission appears to be close to a settlement agreement with Ishan Wahi, a former product manager at Coinbase who the agency charged and accused of insider trading. In February, Wahi pled guilty to two counts of conspiracy to commit wire fraud […]
Financial Crime News Briefs 