News & Analysis as of

Investment Fraud Enforcement Actions Digital Currency

Troutman Pepper

New York AG Sues $1B Crypto Firms Allegedly Engaged in Fraudulent Schemes

Troutman Pepper on

On June 6, New York Attorney General (AG) Letitia James filed suit against NovaTech Advisors, LLC, AWS Mining Pty Ltd., and several other entities, alleging the defendants orchestrated two consecutive, fraudulent...more

Nelson Mullins Riley & Scarborough LLP

Increasing Due Diligence Before Token Listings to Uncover Fraud

As the U.S. Securities and Exchange Commission (“SEC”) continues to step up its enforcement concerning cryptocurrencies, U.S.-based exchanges should take note when conducting due diligence concerning tokens to list for...more

Dechert LLP

Bitcoin fraud: the English Court grants extensive interim remedies to protect investors

Dechert LLP on

The English High Court has granted a combination of powerful remedies including worldwide freezing orders in favour of a UK resident who fell victim to persons unknown operating a suspected cryptocurrency investment scam....more

Polsinelli

Money for Nothing: Age-Old Investment Scam Returns in Cryptocurrency Ponzi Scheme

Polsinelli on

Earlier this month, a superseding indictment was unsealed in the Southern District of New York, charging Pablo Rodriguez, Gutemberg Dos Santos, Scott Hughes, Cecilia Milan, and Jackie Aguilar for their roles in a...more

Polsinelli

SEC Charges Dropil with Defrauding Investors in Unregistered ICO

Polsinelli on

The SEC recently filed suit against Dropil, Inc. (“Dropil”), Jeremy McAlpine, Zachary Matar, and Patrick O’Hara, alleging the defendants had defrauded investors in an unregistered offerings of securities described by the...more

Hogan Lovells

US court orders operator of fraudulent crypto scheme to pay £1.9 million

Hogan Lovells on

What has happened? A US federal court has ordered Dillon Michael Dean and his UK-registered company, The Entrepreneurs Headquarters Ltd (TEH), to pay over $1.9 million in "civil monetary penalties and restitution"....more

Jones Day

SEC Brings First Enforcement Action Related to Initial Coin Offerings

Jones Day on

The Situation: Promoters of two recent initial coin offerings face charges of investor fraud brought by the SEC, after allegedly misrepresenting the assets purportedly backing the offerings, exaggerating the amount of funds...more

Robinson+Cole Data Privacy + Security Insider

SEC Brings Fraud Action Against ICO Creator

In its first lawsuit targeting Initial Coin Offerings (ICOs), the Securities and Exchange Commission (SEC) has filed fraud charges against the creator of the ICOs marketed as “REcoin” and “DRC.” The action, filed in the...more

Stinson - Corporate & Securities Law Blog

CFTC Files Its First Anti-Fraud Enforcement Action Involving Bitcoin

The CFTC filed a federal civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Nicholas Gelfman, of Brooklyn, New York, and Gelfman Blueprint, Inc. (GBI), a New York...more

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