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Join the Securities Litigation and Enforcement Group on LinkedInCelsius! – Bloomberg
On the other hand here are some actual quotes from the bankruptcy report!… In April 2022, Celsius’s Coin Deployment Specialist described Celsius’s practice of “using customer stable coins” and “growing short in customer coins” to buy CEL as “very ponzi like.” A few weeks later when Celsius made another push to prop up the price […]
NFT Stuff – Bloomberg
Or take non-fungible tokens. One common approach with NFTs is that there is some sort of physical or electronic object, and you sell an NFT “of” it. The relationship between the NFT and the object is that the NFT is a label referring to the object. That’s it. Often you also destroy the physical object: […]
Willkie Adds Former Federal Prosecutor Marina A. Torres as White-Collar Litigation Partner in Los Angeles | Willkie Farr & Gallagher LLP
Willkie Farr & Gallagher LLP today announced that Marina A. Torres has joined the Firm as a partner in in the Litigation Department, where she is part of Willkie’s White-Collar Defense Practice. She is based in Los Angeles. Source: Willkie Adds Former Federal Prosecutor Marina A. Torres as White-Collar Litigation Partner in Los Angeles | Willkie […]
Wealthy Russian undertook $90 mln hack-and-trade scheme, U.S. says at trial | Reuters
A wealthy Russian businessman with ties to the Kremlin made tens of millions of dollars trading on secret financial information obtained by hackers about multiple companies before it was public, a U.S. prosecutor said Monday at the start of his trial. Vladislav Klyushin, 42, and his associates made nearly $90 million trading stocks based on […]
Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
Celsius misled its investors – and on occasion used new customer funds to pay for other customers’ withdrawals, the usual definition of a Ponzi scheme, an independent examiner for the New York bankruptcy court said in a Tuesday filing. In September, Shoba Pillay was asked by the court to offer an outside view of goings-on […]
DOJ Taps White-Collar Litigation Head Fresh Off Jan. 6 Committee
The Justice Department has appointed Sean Tonolli, a former senior staffer on the House Jan. 6 committee, to lead the criminal fraud section’s litigation team. The hire, which was posted in an update Monday on the section’s website, brings the white-collar enforcement office a veteran prosecutor and former law firm partner to oversee a unit […]
Osprey Sues Grayscale (GBTC) for Misleading Advertising on Crypto Trust – Bloomberg
Osprey accused Grayscale of conducting “false and misleading advertising” for the Grayscale Bitcoin Trust (ticker GBTC) since late 2020, according to a complaint filed Monday in Connecticut Superior Court. Grayscale presented that GBTC would be converted into an exchange-traded fund as “foregone conclusion, when it knew that access was never likely to happen,” the suit […]
Who Helped FTX’s Sam Bankman-Fried Post Bail? Identities Can Be Made Public – Bloomberg
The identities of two people who helped secure Samuel Bankman-Fried’s bail can be made public, a federal judge has ruled. US District Judge Lewis Kaplan put his order on hold until Feb. 7 to allow for an appeal. If a notice of appeal is filed before then, the hold can be extended another week to […]
FTX’s Sam Bankman-Fried Sought Leniency From Foreign Regulators, Says Justice Department – WSJ
FTX founder Sam Bankman-Fried attempted to stall bankruptcy proceedings in the U.S. in November in order to transfer assets from his crypto exchange to foreign regulators, the Justice Department alleged in a filing Monday. Mr. Bankman-Fried hoped foreign regulators would treat him leniently and eventually allow him to regain control of FTX, according to federal […]
Fyre Fest fraudster Billy McFarland asking $1,800 an hour for ‘consulting’
Infamous Fyre Festival fraudster Billy McFarland thinks an hour of his valuable time is worth nearly $2,000. The convicted con man, who had nothing but time on his hands while spending four years in prison for bilking investors out of $26 million, recently launched a new scheme that offers advice to tech entrepreneurs for a […]