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New York Attorney General Letitia James has filed a lawsuit against three cryptocurrency companies including Stamford-headquartered Digital Currency Group Inc. (DGC) that alleges the companies – along with DCG CEO Barry Silbert – defrauded 230,000 investors of more than $1 billion.
New York Attorney General Letitia James has started legal proceedings against Gemini, Genesis, and Digital Currency Group (DCG).
New York Attorney General Letitia James filed a lawsuit against three crypto companies: Gemini Trust Company, Genesis Global Capital and its affiliates and Digital Currency Group (DCG) for allegedly defrauding investors of over $1 billion, according to a statement on Thursday. The lawsuit also brought charges against Genesis former CEO Soichiro “Michael” Moro and DCG’s founder and CEO Barry Silbert for trying to hide $1.1 billion losses and “defrauding investors and the public.” “The lawsuit alleges that Gemini knew Genesis’ loans were underse...
Gemini’s board was warned that loan partner Genesis was a Lehman Brothers waiting to happen, but told customers their money was safe, AG says.
On Thursday, New York’s attorney general filed a lawsuit against three digital asset firms that were caught up in the collapse of Bankman-Fried’s empire last fall — Gemini Trust, Genesis Global Capital and Digital Currency Group, parent company of Genesis.