Law Enforcement | FinTelegram News

Category: Law Enforcement

November 22, 2023

OK, That’s Binance! What About MEXC And Crypto Payment Processors?

The crypto industry is struggling to find its place. This is currently most evident at Binance, which has just had to pay $4.3 billion to drop charges and lawsuits in the US. Binance CEO Changpeng Zhao had to resign and is to go to prison, say the prosecutors. In Europe, MEXC, a crypto exchange from Asia, is currently in the crosshairs of regulators, as are its partners such as Mercuryo, MoonPay, Simplex, and Banxa. MEXC lost its Estonian license last week.

November 22, 2023

Binance Founder Released On Bail, Steps Down As CEO, And Names Successor After Guilty Plea!

In the wake of his recent guilty plea, Changpeng Zhao (CZ), the now-former CEO of Binance, has announced Richard Teng as his successor. Teng, a seasoned professional with a wealth of experience in financial regulation, is set to steer the cryptocurrency exchange into a new era. Zhao acknowledged the emotional difficulty of relinquishing control but emphasized the need for responsibility.

November 21, 2023

Breaking: Binance CEO Changpeng Zhao Allegedly Pleads Guilty And Steps Down As Part Of Settlement With DOJ!

Binance CEO Changpeng Zhao (CZ) is set to plead guilty to criminal charges of violating U.S. anti-money laundering laws. This decision is part of a settlement that could ensure the continued operation of the company. CZ is scheduled to appear in a Seattle federal court this Tuesday afternoon to enter his plea, WSJ reports. CZ will maintain his majority ownership of Binance but will step down from any executive role.

November 21, 2023

U.S. Law Enforcement Seized Nearly $9M In Crypto Connected To Romance Scam Scheme!

The U.S. Department of Justice (DOJ) has announced the seizure of nearly $9 million in stablecoin Tether. These seized funds were traced to cryptocurrency addresses allegedly associated with an organization that exploited over 70 victims through romance scams and cryptocurrency confidence scams, which are widely known as “pig butchering.” The DOJ also acknowledged Tether's cooperation.

November 20, 2023

Breaking: U.S. Government Allegedly Seeks A $4 Billion Payment From Binance To End Criminal Case!

The U.S. Justice Department (DoJ) is reportedly seeking a penalty of over $4 billion from Binance. This demand is part of a proposed settlement to conclude a prolonged investigation, as reported by Bloomberg News. The ongoing negotiations between the DOJ and Binance are also considering the possibility of criminal charges against Changpeng Zhao (CZ), the founder of the cryptocurrency exchange, in the United States.

November 20, 2023

Following Investigations Of The U.S. DOJ, Tether Voluntarily Freezes 225M in Stolen USDT!

Tether, the operator behind the stablecoin USDT, and OKX, a major crypto exchange, have recently cooperated with the U.S. Department of Justice (DOJ). The collaboration led to Tether voluntarily freezing approximately 225 million USDT tokens found in external self-custodied wallets connected to a Southeast Asian human trafficking ring involved in a widespread “pig butchering” romance scam.

November 20, 2023

Wanted: Accused Mastermind Of Canadian $300 Million Mortgage Broker Scheme Vanished!

Gordon Hoekstra in the Vancouver Sun reports that in a recent development that has stunned investors and rattled the mortgage brokerage industry, Greg Martel, a British Columbia-based mortgage broker, faces serious allegations of orchestrating a Ponzi scheme amounting to over $300 million. This case has become one of the most significant financial scandals in Canadian history, with Martel now a wanted individual, last sighted in Thailand.

October 22, 2023

Ragnar Locker Ransomware Gang Taken Down By International Law Enforcement Action

Europol recently revealed the dismantling of the infrastructure related to the Ragnar Locker ransomware and reported the arrest of a primary individual linked to this cyberthreat in France. The main suspect, believed to be the developer of the Ragnar group, faced the magistrates at the Paris Judicial Court. This operation also witnessed searches in Czechia, Spain, and Latvia, leading to the interrogation of five additional accomplices in Spain and Latvia.

Law Enforcement

October 13, 2023

Breaking: US Government Considers Establishment Of Correctional Facilities For Crypto Executives!

In a move that has left many in the crypto community both amused and bemused, rumors are swirling around that the US Government is considering the establishment of a specialized correctional facility exclusively for convicted crypto fraudsters. Dubbed the "Crypto Correctional," this facility is rumored to be the brainchild of a few legislators who believe that the traditional prison system is ill-equipped to handle the unique personalities and talents of the crypto elite.

October 8, 2023

Crypto Jail Time: Arrest Of Three Arrows Capital Founder Su Zhu Confirmed!

Rumors that Su Zhu, the co-founder of the collapsed and bankrupt crypto hedge fund Three Arrows Capital (3AC), was arrested in Singapore due to his non-compliance with a Singapore court were confirmed. He was ordered to cooperate in the liquidation investigation, which he didn't. Thus, Zhu has been sentenced to a four-month prison term. 3AC was part of the crypto hype between 2020 and 2021 before it collapsed, like many others.

September 30, 2023

Bernard Arnault And Russian Oligarch Nikolai Sarkisov Are Investigated Over Money Laundering!

French billionaire Bernard Arnault and Russian oligarch Nikolai Sarkisov are under investigation for alleged money laundering at a luxury Alpine resort. According to an AFP report, the investigation revolves around activities in Courchevel, a popular French Alps ski spot for the super-wealthy. The French economy ministry's financial team is spearheading the probe, but it's still unclear if any wrongdoing occurred, an insider informed AFP.

September 29, 2023

Former Executives Of U.S. Telecommunications Company Charged With Massive Accounting Fraud Scheme!

Victor Bozzo, previously holding the titles of CEO and CCO, and Edward O’Donnell, the ex-CFO of Pareteum Corporation, have been indicted for allegedly manipulating the publicly traded telecom company's reported revenue. The indictment was unsealed by Damian Williams, U.S. Attorney for the Southern District of New York, and James Smith, the FBI's New York Field Office Assistant Director.