John J Ray | FinTelegram News

Tag: John J Ray

May 27, 2024

Collapsed Crypto Exchange FTX Paid Over $25 Million in Hush Money to Whistleblowers!

According to a recent report from a court-appointed examiner, the collapsed crypto exchange FTX disbursed over $25 million in hush money to whistleblowers prior to its downfall in November 2022. Earlier this year, the U.S. Department of Justice (DOJ) appointed Robert J. Cleary, a renowned lawyer and former lead prosecutor on the Unabomber case, to investigate FTX amid its ongoing bankruptcy proceedings.

January 12, 2023

A Crypto Miracle? Bankrupt Crypto Exchange FTX Found $5 Billion!

Hard to believe but evidently true. Collapsed cryptocurrency exchange FTX has located more than $5 billion of assets. "We have located over 5 billion dollars of cash, liquid cryptocurrency and liquid investment securities," Andy Dietderich, an attorney for FTX, told US Bankruptcy Judge John Dorsey in Delaware. However, a US bankruptcy court was told on Wednesday that the extent of customer losses is still unknown.

November 20, 2022

FTX Announced Strategic Review Of Assets And Prepare To Launch Sell-Off!

The FTX Group, with 101 additional affiliated companies (the "FTX Debtors"), announced that as a part of the Chapter 11 bankruptcy process, they are launching a strategic review of their global assets to begin to maximize recoverable value for stakeholders. The FTX Debtors have engaged Perella Weinberg Partners LP ("PWP") as the lead investment bank and commenced preparing to sell certain businesses and reorganization the new CEO, John j. Ray announced.

Circle Joins U.S.-Led Initiative to Combat Illicit Finance in Virtual Assets!

Erik Rosenblatt, a senior leader at US stablecoin issuer Circle, will represent the company on the Illicit Virtual Asset Network (IVAN) board. Prior to joining Circle, Rosenblatt spent over two decades as a special agent with the U.S. Department of Homeland Security and the U.S. Department of the Treasury. As part of IVAN, Circle will have a voting role in determining the network's priorities and membership.

Evil Corp: A Comprehensive Report on Russia’s Family-Driven Cybercriminal Organization!

The U.S. Department of Justice and Department of Treasury have taken significant action against Evil Corp, a Russia-based cybercriminal group responsible for developing and distributing malware that has stolen over $100 million from banks and financial institutions across 40 countries. Evil Corp appears to operate as a family enterprise, with multiple family members involved.

Good News For Crypto: SEC Enforcement Director Gurbir S. Grewal Steps Down After Impactful Tenure!

The U.S. Securities and Exchange Commission (SEC) is set to experience a significant leadership change as Enforcement Director Gurbir S. Grewal announces his departure. Grewal oversaw a period of heightened regulatory activity specifically targeting the crypto sector. Under his leadership, the SEC Filed high-profile lawsuits against major cryptocurrency exchanges, including Binance and Coinbase.

U.S. DOJ Indicted Russian Hacker and Evil Corp Member Aleksandr Viktorovich Ryzhenkov!

The U.S. DOJ unsealed an indictment charging Russian national Aleksandr Viktorovich Ryzhenkov with using the BitPaymer ransomware variant to attack numerous victims in Texas and throughout the U.S. and hold their sensitive data for ransom. According to the indictment, beginning in at least June 2017, Ryzhenkov allegedly gained unauthorized access to the information stored on victims’ computer networks.

Starling Bank Slammed with £29M Fine for ‘Shockingly Lax’ AML Controls, Exposing UK Financial System to Criminals!

The UK neobank Starling Bank has been fined £29 million by the UK FCA for opening accounts for high-risk customers and failing to screen against full sanctions lists. Its rapid expansion outpaced its compliance measures, leaving significant gaps in its AML framework. Starling grew from approximately 43,000 customers in 2017 to 3.6 million in 2023. However, measures to tackle financial crime did not keep pace with its growth.