The risks of investing in digital assets were highlighted once again following the charges slapped against a Utah man who allegedly scammed investors over $2 million through social media.
Gabriel Edelman faces a lengthy prison term as he stands trial on charges of misappropriating funds and tricking investors into raising $4 million for investments in virtual currencies.
Nikhil Wahi admitted that he received tips from his brother, who was a former product manager at Coinbase, about upcoming listings and made $1.4 million from them.
Christopher Hamilton attempted to delay the extradition to the United States, claiming that his crimes happened mostly in Britain—but the judge was having none of it.
District of Columbia Attorney General Karl A. Racine announced that his office was suing the MicroStrategy founder over allegedly having “lived in the District for more than a decade but has never paid any D.C. income taxes.”
The DOJ captured three men suspected of committing fraudulent bank transactions using stolen identities to embezzle over $4 million worth of digital assets.
Rathnakishore Giri posed as an expert trader and lured over 150 investors to commit fiat and BTC, then used the money for lavish lifestyle, according to the Commodity Futures Trading Commission.
Ishan Wahi is alleged to have shared with his brother and a friend tokens that were to be listed on Coinbase, with the three earning $1.5 million from this.
Jeremy McAlpine and Zachary Matar pleaded guilty to one count each of securities fraud in August 2021; McAlpine will serve a three-year sentence, while Matar will be sentenced to two and a half years.
Senator Sherrod Brown has written letters to the CEOs of Google and Apple, requesting the companies respond to questions relating to fraud prevention in their app stores.
Gerald Cotten was the founder of QuadrigaCX. During the digital currency market meltdown in 2018, the exchange stopped honoring withdrawals, and shortly Cotten was announced dead in India.
Michael Alan Stollery admitted to falsifying aspects of Titanium's white paper, lying about his business relationship with the fed, planting fake customer testimonials, and misappropriating investors' funds.
