The charges against Xue 'Sam' Lee, accusing him of orchestrating the scheme that took $1.89 billion from its 'investors' between June 2020 and November 2022, were originally filed on January 25.
The collapse of HyperVerse, which came after the implosion of its Ponzi family in recent years, led to the arrest of Rodney Burton, who is being accused of operating a money-transmitting business.
The two promoters got five and one year behind bars, respectively, while lawyer Scott Hughes, who laundered the proceeds for AirBit Club, got 18 months.
AirBit Club lured investors with promises of guaranteed profits from BTC mining and trading, but the money went to lavish mansions, travel, and luxury cars.
The U.S. Bankruptcy Court for the Southern District of New York was informed that Celsius's rank-and-file creditors had voted in favor of a plan, but the vote still needs the approval of the Court.
Approval for the settlements will see court on August 10, paving the way for 30K claims worth $78 billion to be settled; another court date set for October will confirm Celsius' reorganization plans.
TRM Labs reports that a further $1.5 billion worth of digital assets was used in darknet markets, as TRON held a 92% share in ‘crypto’ terrorist financing.
Frank Schneider, who previously told 100.7 that if OneCoin "was fraud and money laundering, I must be responsible," was arrested two years ago.
The nearly $35 million disgorgement was tied to the defendants' role in a Ponzi scheme that took an estimated $100 million from victims before it was busted in early 2022.
Platinum Coin has been leveraging social media to sell unregistered securities to the public and promises up to 50% returns in 30 days, according to the Philippines securities regulator.
The U.S. Department of Justice charged Rashawn Russell with wire fraud, while the CFTC filed a civil enforcement action against him for fraudulently soliciting investors to invest in a digital asset trading fund.