Category: United States

SEC files lawsuit against Elon MuskS
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January 16, 2025

SEC Sues Elon Musk Over Twitter Stock Purchases

Elon Musk faces fresh legal trouble as the SEC alleges he violated U.S. securities laws by failing to disclose his early 2022 Twitter stock purchases on time. By delaying the disclosure, Musk reportedly saved $150 million in additional costs. There is also an opinion in the market that the SEC's action is politically motivated, as Musk is known to be a close confidant and supporter of incoming President Donald Trump.
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Bitmex plead guilty to money laundering chargesC
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January 15, 2025

Compliance Analysis Report: Court Order Against Crypto Exchange BitMEX!

The crypto exchange BitMEX has been ordered to pay a $100 million fine for violations of U.S. anti-money laundering (AML) laws. This decision concludes a prolonged legal battle concerning BitMEX's non-compliance with regulatory requirements between 2015 and 2020. This case highlights the growing enforcement actions against crypto platforms that fail to implement adequate AML measures.
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January 15, 2025

DOJ Charges Operators of Crypto Mixers with Money Laundering

The U.S. Department of Justice (DOJ) has charged three Russian nationals with operating cryptocurrency mixing services Blender.io and Sinbad.io, alleging they laundered over $700 million in illicit proceeds. This case highlights the increasing misuse of crypto mixers by cybercriminals, including ransomware groups and state-sponsored actors, to obfuscate their transactions and evade detection.
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CFTC Consent Order against Gemini TrustG
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January 14, 2025

Gemini Trust Slapped with $5 Million Penalty for Misleading CFTC

The U.S. Commodity Futures Trading Commission (CFTC) has issued a $5 million fine to Gemini Trust Company LLC for making false or misleading statements during a 2017 bitcoin futures contract certification process. The order stems from the CFTC’s July 2, 2022, complaint against Gemini Trust. The case highlights the importance of truthfulness in regulatory disclosures.
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CFTC secures order against crypto fraud scheme Mosaic Exchange and its CEOC
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January 14, 2025

Crypto Fraud Unveiled: Mosaic Exchange and CEO Hit with $1.1M Penalty for Crypto Scheme

The U.S. Commodity Futures Trading Commission (CFTC) has secured a $1.1M judgment against Mosaic Exchange Ltd. and its CEO, Sean Michael, for running a fraudulent digital asset scheme that targeted 18 victims globally. The judgment exposes their misuse of funds, false profit claims, and deceptive practices. The orders stem from the CFTC’s three-count fraud complaint filed Sept. 26, 2023.
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Yvette Wang sentenced over money launderingD
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January 7, 2025

DOJ Cracks Down on Billion-Dollar Fraud: Miles Guo’s Associate Yvette Wang Sentenced to 10 Years

Yvette Wang, a close associate of exiled Chinese tycoon Ho Wan Kwok a/k/a Miles Guo, has been sentenced to 10 years in prison for her role in a staggering $1 billion fraud scheme. Acting as Guo’s “Chief of Staff,” Wang helped mastermind a sprawling conspiracy that defrauded thousands of investors through false promises and luxury-laden embezzlement.
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TikTok court case in Utah reveals shocking detailsT
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January 4, 2025

TikTok Under Fire: New Court Documents Reveal Exploitation and Money Laundering Allegations

Utah’s lawsuit against TikTok unveils shocking claims: the platform’s LIVE feature allegedly enables grooming of minors and criminal activities like money laundering. Recently unsealed court records in Utah’s lawsuit against TikTok expose alarming allegations. The state claims TikTok’s LIVE feature facilitates the exploitation of minors through sexual content and serves as a conduit for money laundering.
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Former TerraForm CEO Do KwonE
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December 29, 2024

Extradition Approved: Disgraced Crypto King Do Kwon to Face Justice in the U.S.

Montenegro’s Justice Ministry has approved the extradition of Do Kwon, the controversial South Korean crypto entrepreneur behind the collapse of TerraUSD and Luna, to the United States. The case, rooted in allegations of orchestrating a multi-billion-dollar crypto fraud, marks a pivotal moment in global efforts to hold crypto criminals accountable.
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Deutsche Bank goes cryptoD
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December 20, 2024

Deutsche Bank Securities Fined $4M for Delayed SARs Filings – U.S. SEC Sends a Stern Warning to the Market

Deutsche Bank Securities, a subsidiary of Deutsche Bank, has agreed to pay a $4 million penalty after the U.S. SEC found significant delays in filing SARs. From 2019 to 2024, some investigations dragged on for over two years, rendering SARs useless for timely law enforcement actions. This case underscores the critical importance of compliance timeliness under the Bank Secrecy Act.
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Daniel Thomas Broyles senteced to 4 years prison time over investment fraudE
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December 14, 2024

Extradited Nigerian Cybercriminal Faces Justice in Nebraska!

Abiola Kayode, 37, a Nigerian national, has been extradited to the U.S. to face charges of conspiracy to commit wire fraud, the U.S. Department of Justice (DOJ) announced. Accused of orchestrating a $6 million Business Email Compromise (BEC) scheme, Kayode's extradition from Ghana marks a significant victory in the global fight against cybercrime.
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Criminal complaint in Curacao around the Rabidi and BC.Game casesG
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December 9, 2024

Google Battles CFPB: Tech Giant Fights Back Against Federal Oversight in Payments Showdown

The U.S. Consumer Financial Protection Bureau (CFPB) has placed Google Payment Corp. under federal supervision, citing concerns over its error resolution and fraud prevention processes. This decision follows nearly 300 consumer complaints alleging issues such as inadequate investigation of fraudulent charges and insufficient explanations of investigation outcomes.
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US appeal court approves law to ban TikTok in the UST
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December 8, 2024

TikTok Takedown: America’s Digital Iron Curtain or Silicon Valley’s Secret Weapon?

The recent ruling by the U.S. Court of Appeals for the District of Columbia Circuit has sent shockwaves through the social media industry, upholding a law that could effectively ban TikTok in the U.S. The ruling cited national security concerns. This decision marks a significant escalation in the ongoing tension between the U.S. government and Chinese-owned tech companies.
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