Category: Guilty
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Former Terra CEO Do Kwon Enters Not Guilty Plea In Landmark $40 Billion Crypto Trial
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Do Kwon, a South Korean cryptocurrency entrepreneur and co-founder of Terraform Labs, on Thursday pleaded not guilty to a series of criminal fraud charges in federal court in Manhattan. This comes just days after his extradition from Montenegro, where he had been detained for more than a year. His case…
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Celsius Founder Alexander Mashinsky Pleads Guilty To $4.7 Billion Fraud Charges
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Alexander MashinskyThe former CEO of now-bankrupt cryptocurrency lender Celsius has pleaded guilty to two counts of fraud, and faces a possible maximum sentence of 30 years in prison. This development comes on the heels of multiple charges filed by the US Department of Justice (DOJ), which originally charged him with…
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76% Of Crypto Influencers On X Guilty Of Promoting Memecoins Gone Bust
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A recent report revealed the disturbing truth of the relationship between meme currencies and social media influencers on X (formerly Twitter), revealing High failure rate. The study by Coinwire found that two-thirds of cryptocurrency influencers on X promoted memecoins that are now worthless. The small fraction received a 10-fold increase…
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TD Bank nears possible guilty plea in money laundering probe, WSJ reports By Reuters
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(Reuters) – TD Bank is close to potentially pleading guilty to criminal charges that its U.S. retail bank failed to curb money laundering linked to Chinese criminal groups and illicit sales of fentanyl, the Wall Street Journal reported on Friday. Canada’s second-largest bank is in talks with US federal prosecutors…
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Canadian Crypto Exchange Founder Guilty Of Stealing $9.5M
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Recently, a panel set up by the British Columbia Securities Commission (BCSC) found that cryptocurrency exchange ezBtc was responsible for defrauding users of $13 million in Bitcoin (BTC) and Ether (ETH) between 2016 and 2029. The exchange’s founder misappropriated the funds and caused “actual loss” to investors. Cryptocurrency Savings Program…
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Canadian Crypto Exchange Founder Guilty Of Stealing $9.5M
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Recently, a panel set up by the British Columbia Securities Commission (BCSC) found that cryptocurrency exchange ezBtc was responsible for defrauding users of $13 million in Bitcoin (BTC) and Ether (ETH) between 2016 and 2029. The exchange’s founder misappropriated the funds and caused “actual loss” to investors. Cryptocurrency Savings Program…
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Man Guilty After $65 Becomes $6M Error
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Image Source: News Wire In May 2021, Jatinder Singh tried to deposit just $65 into his account. Crypto.com A Crypto.com employee deposited $65 into his account using his partner’s bank account. However, due to a discrepancy between the exchange’s records and the bank account details, Crypto.com rejected the deposit. Instead…
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Paxful Co-Founder Pleads Guilty to AML Program Failures
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Arthur Schapak, Paxful co-founder and former CTO, pleaded guilty to conspiracy to willfully fail to establish, develop, implement, and maintain a compliant anti-money laundering program as required by the Bank Secrecy Act. In a statement, the US Department of Justice’s Office of Public Affairs revealed that Shabak failed to collect…
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Boeing in talks with US defense department on impact of guilty plea
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By David Shepardson WASHINGTON (Reuters) – Boeing Co is in talks with the U.S. Defense Department about how the planemaker’s planned guilty plea will affect its wide-ranging government contracts, a person familiar with the matter said. Boeing Co. has agreed to plead guilty to a charge of criminal fraud conspiracy…
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Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
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By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
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Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
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By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
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Exclusive-US pushes for Boeing to plead guilty in connection with fatal crashes, sources say By Reuters
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By Mike Spector and Chris Prentice (Reuters) – The U.S. Justice Department is pressing Boeing Co to plead guilty to a criminal charge after finding the planemaker violated a settlement over deadly 737 Max crashes in 2018 and 2019 that killed 346 people, two people familiar with the matter said…
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Former Ontrak CEO found guilty of insider trading (NASDAQ:OTRK)
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DNY59 Former President and CEO of public healthcare company Ontrak (Nasdaq: OTRQOn Friday, he was convicted in a multi-million dollar insider trading scheme. A federal jury in Los Angeles indicted Terren Scott Beiser on charges of securities fraud and two counts of insider trading. It was the first case the…
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Juan Tacuri Pleads Guilty in $8.4 Million Forcount Crypto Ponzi Scheme
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Juan Tacurri, 46, of Greenacres, Florida, a top promoter of the Forcount cryptocurrency Ponzi scheme, pleaded guilty to conspiracy to commit wire fraud in the Southern District of New York. The scheme, which netted $8.4 million from primarily Spanish-speaking investors, has been described as one of the most shocking scams…
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Fourteen Hong Kong democrats found guilty in landmark subversion trial By Reuters
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Written by Jesse Pang and James Pomfret HONG KONG (Reuters) – Fourteen Hong Kong pro-democracy activists were convicted and two acquitted on Thursday in a landmark subversive trial that critics say could deal another blow to the city’s rule of law and its reputation as a global financial center. The…
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Former BitConnect promoter pleads guilty to criminal charges
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Former BitConnect promoter John Pegaton has pleaded guilty to one felony count of providing unlicensed financial services. Pegaton Back He appeared before the Sydney District Court on May 16, where he admitted providing unlicensed financial services on behalf of another person. This is a breach of section 911B(1) of the…
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Former BitConnect promoter pleads guilty to criminal charges
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Former BitConnect promoter John Pegaton has pleaded guilty to one felony count of providing unlicensed financial services. Pegaton Back He appeared before the Sydney District Court on May 16, where he admitted providing unlicensed financial services on behalf of another person. This is a breach of section 911B(1) of the…