Category: Court Cases

German charges more individuals in the GetFinancial fraud caseC
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November 11, 2024

Crypto Crime: Bitcoin Fog Operator Sentenced to 12-Year Prison Term for Darknet Money Laundering!

Roman Sterlingov, dual Russian-Swedish national and operator of Bitcoin Fog, sentenced to over 12 years in prison for running the darknet’s longest-lasting bitcoin mixer, laundering over $400 million in criminal proceeds. A jury found Sterlingov guilty of money laundering conspiracy, money laundering, operating an unlicensed money transmitting business, and money transmission without a license.
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FTX co-founder Gary Wang takes the stand in the trial against Sam Bankman-FriedF
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November 8, 2024

FTX Co-Founder Gary Wang Pleads for Freedom, Citing Role as Key Witness Against Bankman-Fried

Gary Wang, co-founder of FTX, has requested a non-custodial sentence in a court memo submitted on November 6th, emphasizing his cooperation as a key witness in the U.S. v. Sam Bankman-Fried case. Wang argues his minimal involvement in FTX’s collapse and his substantial assistance to prosecutors justify leniency. He will be sentenced on Nov. 20 after pleading guilty.
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Former FTX executive Ryan Salame sentencingF
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November 6, 2024

FTX Pursues $98.8 Million Recovery from Ex-Chief Ryan Salame

FTX Trading Ltd. has filed a lawsuit against Ryan Salame, former head of FTX Digital Markets, seeking the recovery of $98.8 million allegedly misappropriated in the lead-up to the exchange's collapse. Accusations against Salame include using customer funds to finance a lavish lifestyle and political contributions. He was sentenced to 7.5 years (90 months) in prison for his role in the FTX scandal.
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Russian oligarach Alisher UsmanovG
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November 4, 2024

German Prosecutors Drop Money Laundering Probe Against Russian-Uzbek Billionaire Alisher Usmanov – A Victory for Reputation?

In an interesting development amid the Western sanctions against Russia, German prosecutors have dropped a high-profile money laundering case against Russian-Uzbek billionaire Alisher Usmanov. This decision, claimed by his legal team as a vital step in clearing Usmanov's name, follows over two years of investigation without sufficient evidence to support the accusations.
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FTX Bankruptcy CaseB
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October 29, 2024

Bankrupt Crypto Exchange FTX Settles Suit Against Crypto Firm Bybit for $228 Million!

The legal dispute between the collapsed U.S. crypto exchange FTX and Dubai-based Bybit has recently reached a significant milestone with a settlement agreement worth $228 million. Here's an overview of the background, context, and latest developments. The settlement comes just in time for the expected bull run in the crypto segment.
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German charges more individuals in the GetFinancial fraud caseR
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October 28, 2024

Russia Sentences Four REvil Ransomware Members in Rare Cybercrime Conviction!

In an uncommon move, Russian courts sentenced four members of the REvil ransomware group to prison, marking one of the few Russian cybercrime convictions. This decision follows a larger crackdown on cybercrime networks in the region. REvil was dismantled after Russia's Federal Security Service (FSB) announced arrests against several members in an unprecedented takedown.
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TD Bank faces class action lawsuits over AML settlementT
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October 24, 2024

TD Bank Faces Class Action After Historic $3 Billion AML Settlement and Felony Guilty Plea!

TD Bank is facing multiple class action lawsuits following its unprecedented $3.09 billion settlement with U.S. authorities for widespread anti-money laundering (AML) violations. The lawsuits, filed by Bragar Eagel & Squire and Pomerantz Law Firm, allege that TD Bank misled investors and failed to disclose critical compliance failures, resulting in significant financial losses for shareholders after the market reacted to the settlement.
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Binance VP Tigran Gambaryan charged in NigeriaB
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October 20, 2024

Bring Him Home: US Attorneys General Demand Hostage Status for Detained Binance Exec Tigran Gambaryan

18 U.S. attorneys general have called on President Biden to designate Binance executive Tigran Gambaryan as a hostage. Held without formal charges in Nigeria, Gambaryan’s health has deteriorated significantly, raising humanitarian concerns. His arrest, seen as politically motivated, comes just months after Binance’s $4.2 billion money laundering settlement with U.S. authorities.
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German charges more individuals in the GetFinancial fraud caseU
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October 20, 2024

U.S. Court Sentenced Indian National to 60-Months in Prison For $20M Crypto Fraud Scheme!

On Dec 20, 2023, Indian national Chirag Tomar was arrested at the Atlanta airport over charges of stealing more than $20 million from hundreds of victims through the use of fake or “spoofed” websites mimicking the crypto exchange website Coinbase. He pleaded guilty and was sentenced to 60 months in prison. Tomar used the victims’ funds to pay for his lavish lifestyle.
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Israeli Diamond Tycoon released on bailI
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October 15, 2024

Israeli Mining Magnate Beny Steinmetz Arrested Again in Greece Over Romanian Fraud Charges!

The Israeli Mining magnate Beny Steinmetz was arrested Sunday at Athens International Airport on the basis of a European Arrest Warrant issued by Romania, despite a Greek court rejecting his extradition two years ago. However, the European Court of Justice (ECJ) ruled that it was unlawful for courts to reject a European Arrest Warrant. He was released on bail and is prohibited from leaving the country.
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USI Tech co-founder Horst Jicha on the runB
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October 12, 2024

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.
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Binance executive Tigran Gambaryan in a wheelchairB
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October 12, 2024

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.
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