Founder of $90M digital currency hedge fund sentenced to 7 years in prison
Stefan He Qin was the founder of two hedge funds in New York that claimed to be highly profitable, who was accused of embezzling tens of millions of clients’ funds.
Latest Department of Justice News
BitMEX exec Greg Dwyer agrees to US extradition to face DOJ charges
Dwyer, the former head of operations at BitMEX, will join his colleagues including ex-CEO Arthur Hayes to face banking law breach charges in the United States.
Man linked to $1.3B North Korean BTC hacks gets 11 years in prison
Ghaleb Alaumary is accused of having helped North Korean hackers who made off with $1.3 billion targeting banks and digital currency firms, among other crimes.
Michael Ackerman faces 20 years in jail after pleading guilty to $37M BTC scam
Ackerman is accused of luring investors with promises of 15% monthly returns on BTC trading, attracting over $37 million and made false claims while siphoning the funds.
AriseCoin CEO involved in $4M digital currency scam sentenced to 5 years in jail
AriseCoin is accused of dupin g investors into believing it was the world’s first decentralized banking platform and that it could offer FDIC-insured traditional banking services.
Alchemy Coin CEO sentenced to 7 years for $7M COVID relief and ICO scams
Justin Cheng, who is charged with defrauding the U.S. government with over $7 million in a well-orchestrated COVID relief scam, has been sentenced to seven years in prison by a federal court.
DROP token creators plead guilty to $1.8M ICO scam, settle with SEC
The two raised $1.9 million by selling over 600 million native tokens, all while issuing false statements, presenting fake profitability statements and making unattainable promises to the investors, authorities said.
US Department of Justice seeking to hire digital currency trial lawyer
In its job post, the department outlined that the successful applicant will serve as an expert on digital currencies and blockchain technology. The position will be in the department’s money laundering section.
New Orleans man faces 5 years in prison over unlicensed BTC business
Michael Yusko, of New Orleans, is accused of selling BTC and ETH to his customers via his five companies, all of which were unregistered as money transmitting business.
US gov’t to treat ransomware attacks with similar priority as terrorism
The DoJ issued the guidance to U.S. attorney’s offices across the country, alerting them to the rising danger cybercriminals pose and urged for coordinated response and investigation with Washington.
California man sentenced to 2 years in jail over illegal $25M BTC ATM operation
Kais Mohammad pleaded guilty to the charges of money laundering, operating unlicensed money transmitting business and failing to maintain an effective anti-money laundering program in 2020.
Binance under investigation by IRS and DoJ
Binance is under investigation by the Inland Revenue Service (IRS) and U.S. Department of Justice (DoJ), according to a report by Bloomberg.