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Category: SDNY

February 8, 2024

U.S. Whistleblower Programs Send Clear Signal To Financial Wrongdoers!

The U.S. Attorney’s Office for the Southern District of New York (SDNY) unveiled its Whistleblower Pilot Program on January 10, 2024, a strategic effort to..

December 22, 2022

U.S. Regulators & Prosecutors Charge FTX Executives Caroline Ellison And Gary Wang!

The U.S Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in fraudulent FTX crypt scheme co-founded by Sam Bankman-Fried (SBF) and Wang. Ellison and Wang pleaded guilty to the criminal charges and cooperate with the authorities.

December 18, 2022

FTX Court Case: Crypto Enemy #1, Sam Bankman-Fried, Allegedly Agrees To Extradition!

Crypto enemy #1, Sam Bankman-Fried, aka SBF, the disgraced founder and former CEO of crypto exchange FTX, is expected to agree to extradition to the United States, according to an NYT report. In the U.S., SBF, 30, has been charged with fraud, misappropriating customers’ FTX funds to make lavish real estate purchases, invest in other companies, and donate funds to politicians. SBF was arrested last Monday in the Bahamas. He was denied bail and transferred to the notorious Fox Hill prison.

December 15, 2022

U.S. Criminal & Regulatory Charges Against Operators Of Crypto Pyramid Schemes!

The U.S. SEC charge Francisley Da Silva, Juan Tacuri, Ramon Arias, and Jose Reyes for their roles in creating and promoting Forcount Trader Systems, Inc., a fraudulent crypto asset pyramid scheme that raised more than $8.4 million from hundreds of retail investors primarily from Spanish-speaking communities throughout the United States and other countries. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York announced criminal charges.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.

U.S. DOJ Charges 18 Individuals and Entities in Global Crypto Fraud Crackdown!

The U.S. DOJ has charged 18 individuals and entities in an international operation targeting market manipulation and fraud in the crypto industry. The defendants, including market makers and token promoters, are accused of using wash trading and false trading activity to deceive retail investors and artificially inflate crypto prices. This is the first major criminal case of its kind in the crypto market.

Crypto Exchange Crypto.com Sues US SEC Over Regulatory Overreach!

Crypto.com, the Singapore-based crypto exchange with more than 100 million users, has filed a lawsuit against the SEC, challenging the regulator’s authority over crypto assets and accusing it of overstepping its jurisdiction. The lawsuit comes after a Wells notice was issued to the platform, signaling the SEC’s intent to take enforcement action.