Tagged: doj

Fake AI Firm Raises $40 Million, CEO Busted, Faces Criminal Charges for Defrauding Investors

The US Department of Justice is pursuing criminal charges against Albert Saniger, the former CEO of nate, for allegedly defrauding investors out of $40 million. Nate was an artificial intelligence firm that claimed to have proprietary technology while employing real people to do the work…. Read More

US Department of Justice, National Cryptocurrency Enforcement Unit Shuttered – Report

Multiple reports indicate that the National Cryptocurrency Enforcement Unit (NCET), part of the US Department of Justice, has been shut down. Fortune first reported this, stating that a memo indicates that Deputy Attorney General Todd Blanche announced the decision to eliminate the entity, claiming the DOJ is… Read More

US DOJ Greenlights Capital One and Discover Merger, Signaling Shift in Antitrust Approach

In a significant development for the US financial services sector, the Department of Justice (DoJ) has given the green light to a $35 billion merger between Capital One Finance Group and Discover Financial Services. The decision, announced this week, marks a pivotal step forward for… Read More

Estonian Nationals Plead Guilty in $577M Crypto Fraud Scheme

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

Two Estonian nationals have reportedly pleaded guilty to an alleged $577M cryptocurrency fraud scheme. The scheme is said to have victimized hundreds of thousands of people in the United States and abroad. As stated in the announcement, two Estonian nationals pleaded guilty for their operation… Read More

Crypto Exchange KuCoin Pleads Guilty to Running Unlicensed Operations, Will Pay $300M Penalty

Danielle Sassoon, the United States Attorney for the Southern District of New York, announced that PEKEN GLOBAL LIMITED, a Seychelles-based entity that, since at least September 2019, has operated KuCoin, one of the largest cryptocurrency exchanges, pled guilty to “one count of operating an unlicensed… Read More

Fintech Dave Issues Statement in Response to Amended FTC Complaint, Shares Update on ExtraCash Fee Structure

The Department of Justice (DOJ), on behalf of the Federal Trade Commission (FTC), filed an amended complaint in its lawsuit against Dave Inc. (Nasdaq: DAVE) on December 30, 2024. According to an update from Fintech firm Dave, this is “not a new lawsuit, and it… Read More

US Department of Justice Files Complaint Against Fintech Firm Dave, CEO Jason Wilk Alleging “Deceptive” Practices in Violation of Federal Law

The US Department of Justice (DOJ), together with the Federal Trade Commission (FTC), announced a civil enforcement action against Dave Inc. and its co-founder, President, Chief Executive Officer, and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and… Read More

DOJ: Bernie Madoff Fraud Victims Receive 94% of Lost Funds

The US Department of Justice says victims of the Bernie Madoff fraud have received 93.71% of their fraud losses. Of course, this does not reflect the opportunity cost of missed years when the money could have been put to work. And then there is inflation…. Read More

Nigerian Scam Pilfers $2.9 Million from Investors, SEC and DOJ Charge Three for Operating Bogus Websites

The Securities and Exchange Commission (SEC) has filed charges against three Nigerian nationals for scamming investors out of $2.9 million. According to the SEC, the trio impersonated legitimate investment advisors and conning around 28 investors. At the same time, the United States Attorney’s Office for… Read More

Treasury’s Office of Foreign Assets Control Sanctions Cybercriminals Evil Corp based in Russia

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is sanctioning individuals and entities affiliated with Evil Corp, a cybercriminal operation based in Russia. OFAC is taking the action in partnership with the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) and… Read More

CEI Say DOJS Anti-Trust Lawsuit Targeting VISA is Unfounded

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

As was previously reported, the US Department of Justice (DOJ) has filed a lawsuit against Visa (NYSE:V) claiming uncompetitive practices that stifle innovation while keeping costs high for consumers. A statement by the Competitive Enterprise Institute (CEI) posted this week counters this argument, claiming the DOJ’s… Read More

Visa Sued by DOJ, Accused of Operating a Monopoly in Debit Markets

The US Justice Department has filed a civil suit in federal court alleging that Visa (NYSE:V) is monopolizing debit network markets in violation of the Sherman Act. The DOJ claims that Visa is using its dominance to thwart competition and impede innovations. The DOJ complaint… Read More

Tether Reportedly Assists DOJ in Criminal Investigation, Victim Recovery

Tether, which claims to be among the largest companies in the digital asset industry, reaffirms its commitment to combat illicit activities, “stop illegal use of stablecoin technology, and provide support to victims through its assistance to, and support of, law enforcement agencies globally.” As the… Read More

US and German Law Enforcement Agencies Seize Virtual Currency Wallet Cryptonator, Charge Administrator – Report

IRS-Criminal Investigation, the US Department of Justice, and the Federal Bureau of Investigation in coordination with the German Federal Criminal Police Office (BKA) and the Attorney General’s Office in Frankfurt, reportedly seized the domain for online crypto wallet Cryptonator for allegedly failing to have “appropriate”… Read More

CFTC, DOJ, Focus on Pig Butchering in First Fraud Disruption Conference

Pig Butchering is a term that references a fairly common scam in which fraudsters target an individual, gain their confidence, and convince them to forward funds to an account where the con person and funds then disappear. Frequently, crypto is involved, as it is easy… Read More

DOJ: Crypto Exchange BitMEX Pleads Guilty to Bank Secrecy Act Offense, BitMEX Says Its Old News

Global cryptocurrency exchange BitMEX has pleaded guilty to a Bank Secrecy Act offense, according to the US Department of Justice (DOJ). BitMEX willfully “flouted” U.S. Anti-Money Laundering (AML) laws, claims the DOJ. Damian Williams, the United States Attorney for the Southern District of New York,… Read More

Former FTX Executive Ryan Salame Sentenced to 90 Months in Prison

Ryan Salame (30), a former top executive of FTX, has been sentenced to 7 1/2 years in prison for his role in the crypto firm’s activities. Sam Bankman Fried, the founder and CEO of FTX, was eventually sentenced to 25 years in prison for his… Read More

DOJ: Two Brothers Arrested for Allegedly Attacking Ethereum (ETH) Blockchain, Stealing $25M in Crypto

A US Department of Justice (DOJ) indictment was unsealed, charging Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York, with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The charges in the indictment arise “from an alleged… Read More

US DOJ Announces Arrest of Samourai Wallet Co-Founders Who Are Charged with Money Laundering

Keonne Rodriguez and William Lonergan Hill are charged with operating Samourai Wallet, an unlicensed money transmitting business that reportedly executed over $2 billion in unlawful transactions and allegedly “laundered over $100 million in criminal proceeds.” Damian Williams, the United States Attorney for the Southern District… Read More

US DOJ Seeks 3-Year Prison Sentence for Binance Founder Changpeng Zhao

Zhao Changpeng

The United States Department of Justice is reportedly seeking a 36-month prison sentence for Binance founder and former CEO Changpeng Zhao, or “CZ.” US prosecutors are said to be seeking a potential 3-year prison sentence for Changpeng Zhao, who is the founder Binance, the world’s… Read More

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