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 fraud News
Hong Kong securities regulator wants stricter laws for digital currencies
The deputy head of the Hong Kong securities watchdog has proposed more stringent regulations for the digital currency trading sector to prevent huge losses.
SEC latest investor warning targets digital currency scams and ICOs
In its warning note, the SEC said that investors should understand the full extent of the risks involved and look out for signs that could point to fraudulent schemes.
SEC charges BitConnect founder with $2B scam as promoter pleads guilty
The securities regulator has levied a new action against BitConnect founder Satish Kumbhani and the lead U.S. promoter after they allegedly defrauded 325,000 BTC from investors.
Former Manchester United star Anderson charged in digital currency fraud probe
The retired soccer star was identified as one of eight suspects involved in a money laundering operation thought to have handled some R$35 million in illicit funds through digital currency.
Tether links to questionable ‘market makers’ yet another cause for concern
The fact that billions in fresh capital allegedly continue to pour into Tether’s coffers despite the looming threat of more legal action will only fuel skepticism surrounding the existence of the fiscal reserves backing USDT.
Monero’s Riccardo Spagni denied bail in fraud case
Spagni has not been convicted of anything yet, but he stands accused of defrauding his former employer, Cape Cookies, out of R1.4 million, or just shy of US$100,000, over the course of two years.
$100M BTC Ponzi scheme Finiko founder arrested in Russia
Moscow police arrested Kirill Doronin on charges of allegedly defrauding $100 million from his investors, although some reports purport the figure could be over $1 billion.
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.
Mirror Trading International: US enforcement agencies join probe into South Africa scam
The FBI is reported to be teaming up with liquidators managing the assets of Mirror Trading International, acting on behalf of U.S.-based investors who have been left short in the collapse of the exchange.
Monero lead maintainer arrested in US over alleged fraud in South Africa
Riccardo Paolo Spagni, better known as Fluffypony, is alleged to have committed corporate fraud while working for a South African tech company back in 2009.
Florida man faces fraud charges over $7.3M digital currency app scam
The SEC announced the charges against Aron Govil of Jacksonville, Florida, who is accused of defrauding investors in his two companies—Telidyne Inc. and Cemtrex Inc.