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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInAttorney General James Sues Former CEO of Celsius Cryptocurrency Platform for Defrauding Investors | New York State Attorney General
New York Attorney General Letitia James today filed a lawsuit against Alex Mashinsky, a co-founder and former CEO of cryptocurrency lending platform Celsius Network LLC and its related entities (Celsius), for defrauding hundreds of thousands of investors, including more than 26,000 New Yorkers, out of billions of dollars worth of cryptocurrency. The lawsuit alleges that […]
Attorney General James Urges New Yorkers Deceived by Crypto Platforms to Report Concerns to OAG | NYAG
New York Attorney General Letitia James today issued an investor alert urging any New Yorker deceived or affected by the cryptocurrency crash to contact her office. Many high-profile cryptocurrency businesses have frozen customer withdrawals, announced mass layoffs, or filed for bankruptcy, while investors have been left in financial ruin. As part of the Office of the Attorney General’s (OAG) ongoing investigative work, OAG is interested in […]
INVESTOR ALERT: Attorney General James Warns New Yorkers About Cryptocurrency Investment Risks | New York State Attorney General
“Over and over again, investors are losing billions because of risky cryptocurrency investments,” said Attorney General James. “Even well-known virtual currencies from reputable trading platforms can still crash and investors can lose billions in the blink of an eye. Too often, cryptocurrency investments create more pain than gain for investors. I urge New Yorkers to […]
Registration of Commodity Brokers-Dealers, Salespersons, and Investment Advisors Doing Business Relating to Virtual or “Crypto” Currency–NYAG
New York Attorney General Letitia James issues this alert to remind industry members that people and entities dealing in virtual or “crypto” currencies that are commodities or securities in the state of New York, and who do not qualify for an exemption, must register with the Office of the Attorney General. Failure to do so […]
NYAG’s Probe of Bitfinex, Tether Ends in an $18.5M Settlement – CoinDesk
Charles Michael, a partner at law firm Steptoe & Johnson LLC who represented the companies in the inquiry, said the settlement “resolves allegations about public disclosures” around Tether’s loan to Bitfinex. “To the Attorney General’s office’s credit, after two and a half years of investigation, [its] findings are limited only to the nature and timing […]
Greenberg’s ‘Day of Reckoning’ Over AIG Fraud Claims Arrives – Bloomberg
More than 11 years after he was sued by former New York Attorney General Eliot Spitzer, Greenberg went on trial Tuesday to fight claims that he and former Chief Financial Officer Howard Smith rigged the books with two sham transactions at AIG to hide the insurer’s true financial condition. via Greenberg’s ‘Day of Reckoning’ Over […]
New York Attorney General Eric Schneiderman promises to wade into more ‘dark pool’ investigations after settlements with Barclays and Credit Suisse were announced | Crain’s New York Business
Additional actions are likely against private trading venues run by some of Wall Street’s biggest banks, the nation’s top securities regulator and New York state’s attorney general said today as they announced record settlements with two global banks over their so-called dark pools. via New York Attorney General Eric Schneiderman promises to wade into more […]
Benjamin Lawsky to Step Down as New York’s Top Financial Regulator – WSJ
Mr. Lawsky had been interviewing for private sector positions for months and was expected to leave this spring, as previously reported by The Wall Street Journal. But, instead of heading to an established law firm or financial consultancy, a common exit route for financial regulators, Mr. Lawsky is striking out on his own. via Benjamin […]
Four gov’t agencies now investigating high-speed “Insider Trading 2.0” — Ars Technica
The revaluation of the subpoenas from Eric Schneiderman’s office, first reported by the Wall Street Journal, brings to at least four the number of agencies probing what the New York Attorney general has described as “Insider Trading 2.0.” Other entities investigating whether Wall Street firms are taking advantage of “differences in delays, or latencies, of […]
Eric Schneiderman’s twisted fight against ‘insider trading 2.0’ — Bloomberg View
Now that we know New York has an attorney general who makes up the law as he goes along when it comes to the securities industry, where will he draw the line? Today Eric Schneiderman said his office has reached agreements with 18 financial-services firms, most of which are Wall Street banks, to “stop their […]