Charges | Digital Money Times

Karpeles Beats Embezzlement Charges in Mt Gox Ruling

March 15, 2019 By Mark Lyford Leave a Comment

The Tokyo District Court has found Mark Karpeles, the former head of now-defunct Bitcoin exchange platform Mt. Gox, guilty of record tampering but innocent on other charges related to embezzlement and breach of trust.

Per reports in the Wall Street Journal, the court's verdict is a massive blow to Japanese prosecutors who have maintained their stance that Karpeles was guilty of embezzlement and breach of trust at Mt. Gox.

The sentence, which was carried out on March 15, will see him serve a suspended sentence of two-and-half years in prison. He can skip jail altogether if he stays on his best behavior. Read more...

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Florida Bitcoin Trader Faces Felony Charges for Selling Crypto to Undercover Police

February 1, 2019 By Mark Lyford Leave a Comment

It’s a case of police entrapment that goes beyond the pale. After a ruling Wednesday by the U.S. Third District Court of appeals, a Florida man will have to face a trial by jury over felony charges in Miami for selling bitcoin to undercover police. Felony Charges for a Victimless Crime? “Espinoza’s bitcoins-for-cash business requires him to register as a payment instrument seller and money transmitter” under Florida financial statutes, the court ruled Wednesday, adding that he was “not merely selling his own personal bitcoins, he was marketing a business.” Now he’ll face serious felony charges for money laundering as Read more...

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Huawei Faces Criminal Charges, Officials Say This Won’t Hurt US-China Trade Talks

January 29, 2019 By Mark Lyford Leave a Comment

The day of reckoning has come for Huawei, as the U.S. Justice Department has unsealed a 13-count indictment against the world’s largest telecommunications equipment manager. Justice Department Charges Huawei The indictment alleges that Huawei, two affiliated companies, and its chief financial officer Meng Wanzhou committed fraud and conspiracy in connection with deals in Iran. Commerce Secretary Wilbur Ross stressed: These are law enforcement actions and are wholly separate from our trade negotiations with China. An indictment filed in Washington state accused the company of stealing trade secrets from T-Mobile USA Inc. and offering bonuses to employees who succeeded in getting technology from rivals, according Read more...

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SEC Charges Group Behind Filing System Hack, $4.1 Million in Illegal Trades

January 15, 2019 By Mark Lyford Leave a Comment

New charges have emerged from a 2015 case of hacking and insider trading, the SEC announced today. In the previous case, Ivan Turchynov and Oleksandr Ieremenko hacked newswire services and provided information to traders before anyone else could get it. The scheme was very profitable. In one incident, a trader using the information made over … Continued

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AriseBank CEO Settles SEC Charges

December 19, 2018 By Mark Lyford Leave a Comment

CCN previously reported on the arrest and murky background of Jared Rice, Sr., the “CEO” of the AriseBank ICO scheme which saw him lining his pockets and paying personal expenses out of raised funds in the extreme. Yesterday afternoon, the SEC announced that it had reached a settlement with Rice as regards its part of

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Malaysia Files Criminal Charges Against Goldman Sachs

December 18, 2018 By Mark Lyford Leave a Comment

Following months of investigation into the 1MDB scandal in Malaysia, the country’s attorney general Tommy Thomas has filed criminal charges against Goldman Sachs International and two of its Asian subsidiaries alongside former Goldman Partner Tim Leissner, alleged scam mastermind Jho Low and former 1MDB counsel Jasmine Loo. The Wall Street Journal reports that Malaysian authorities earlier today

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Dallas Crypto Startup Ordered to Repay Investors $2.7 Million on Defrauding Charges

December 14, 2018 By Mark Lyford Leave a Comment

The Dallas-based crypto startup AriseBank has been ordered to repay investors to the tune of $ 2.7 million to fix allegations that the firm was defrauding their investors. Authorities have finally put an end to the ongoing AriseBank saga that has been hanging over the heads of the startup’s founders Stanley Ford and Jared Rice for

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Breaking: SEC Charges Floyd Mayweather, DJ Khaled with Illegally Promoting ICOs

November 30, 2018 By Mark Lyford Leave a Comment

The US Securities and Exchange Commission (SEC) has charged boxing legend Floyd Mayweather and recording artist DJ Khaled with illegally promoting initial coin offerings (ICOs). The two celebrities, as CCN reported, had been among the most prolific ICO promoters, pumping crypto tokens on social media while sometimes failing to disclose that the posts — which

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Indian Police File Charges Against Masterminds of $60 Million Bitcoin Scam

November 23, 2018 By Mark Lyford Leave a Comment

Indian police in the city of Pune have charged Amit Bharadwaj along with three other individuals – Vivek Bharadwaj, Pankaj Adlakha and Hemant Bhope, involved in a multi-level marketing (MLM) crypto scam. It is alleged that Amit who is the central character of the trial collected about Rs 10 crore (about $ 1.42 million) from unsuspecting

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ICO Issuers Settle Registration Charges With SEC

November 16, 2018 By Mark Lyford Leave a Comment

The U.S. Securities and Exchange Commission (SEC) has agreed to settle charges with two startups that sold tokens through Initial Coin Offerings (ICOs) in 2017. The companies were charged by the SEC for running their ICOs after the regulator clearly defined such offerings as unlicensed securities in its DAO Report of Investigation. The startups indicted by the SEC are Boston-based Airfox, which sold $ 15 million worth of tokens, and Paragon Coin, which raised $ 12 million selling tokens. Read more...

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SEC charges Zachary Coburn with running unregistered token exchange EtherDelta

November 9, 2018 By Mark Lyford Leave a Comment

The Securities and Exchange Commission (SEC) announced in a press release it sent to CoinReport that it had settled charges against Zachary Coburn, the founder of digital token trading platform EtherDelta, for operating the exchange without registration. It is the first time that the SEC has taken a…

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Ethereum: Decentralized Crypto Exchange Volumes Plunge after EtherDelta Charges

November 9, 2018 By Mark Lyford Leave a Comment

Following the SEC’s enforcement action against the founder of Ethereum exchange EtherDelta, cryptocurrency traders appear to be shying away from so-called decentralized crypto trading platforms while they wait to see whether more enforcement actions are coming down the pike. DEX Volumes Take Major Haircut Following EtherDelta Charges As first noted by crypto research group DRIVE

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Will EtherDelta Charges Lead to the Demise of Decentralized Crypto Exchanges?

November 8, 2018 By Mark Lyford Leave a Comment

The US Securities and Exchange Commission (SEC) has charged Zachary Coburn, a co-founder of decentralized crypto exchange EtherDelta, for operating an unregistered national securities exchange. SEC Charges EtherDelta Founder With Operating an Unregistered Exchange https://t.co/KYRBmn2UHw — SEC_News (@SEC_News) November 8, 2018 In its official statement, the SEC also emphasized that EtherDelta illicitly distributed unregistered securities

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Breaking: SEC Charges EtherDelta Founder with Operating Unregistered Exchange

November 8, 2018 By Mark Lyford Leave a Comment

The US Securities and Exchange Commission (SEC) has charged the founder of decentralized Ethereum exchange (DEX) EtherDelta with operating an unregistered exchange. As a DEX, the crypto trading platform allowed users to trustlessly trade Ethereum-based tokens without registering accounts or entrusting their funds to an exchange-controlled wallet. Trading was managed by a smart contract, though

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Alleged Bitcoin Launderer Alexander Vinnik Questioned by French Investigators, Lawyer Says Charges are ‘Trumped up’

October 1, 2018 By Mark Lyford Leave a Comment

The legal saga surrounding alleged bitcoin launderer Alexander Vinnik continues to grow more complicated, as law enforcement officials in three separate countries jockey for the authorization to extradite the alleged BTC-e administrator from Greece, where is currently in local police custody. Russian state-operated news service TASS reports that French investigators questioned Vinnik on Monday in

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SEC Charges Forex Broker for Illegal Securities Swaps Involving Bitcoin

September 29, 2018 By Mark Lyford Leave a Comment

In what seems like the first coordinated strike from government agencies, the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Federal Bureau of Investigation (FBI) have taken action against a securities broker for violating federal laws in connection with security-based swaps funded by bitcoin.

On September 27, 2018, the SEC announced that it had filed charges at a U.S. District Court for the District of Columbia against Marshall Islands-based securities company 1pool Ltd., also known as 1Broker, and its Austria-based CEO Patrick Brunner for trading security swaps to American investors and others across the world without meeting the “discretionary investment thresholds required” by federal securities law. Read more...

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DarkWallet Dev & 3D-Printed Gun Pioneer Cody Wilson Arrested on Sexual Assault Charges

September 22, 2018 By Mark Lyford Leave a Comment

Cody Wilson, 3D-printed firearm pioneer and DarkWallet developer, has been arrested in Taiwan in connection with charges that he sexually assaulted a minor in Texas. The arrest was reported on Friday morning by a local CBS affiliate in Austin, TX, where police had filed an affidavit against Wilson on Wednesday, alleging that he sexually assaulted a

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Student Faces Charges for Stealing $5 Million in Crypto via “SIM Jacking”

August 1, 2018 By Mark Lyford Leave a Comment

Motherboard has reportedly obtained court documents pertaining to the arrest of Joel Ortiz, a 20-year-old from Boston, who is accused of stealing $ 5 million USD in bitcoin and other cryptocurrencies. Mr. Ortiz and his currently unidentified accomplices stole crypto from roughly 40 victims through a hacking technique known as “SIM jacking.”

Also Read: Archaeologists Argue Micronesian Stone Money Comprises Bitcoin Predecessor

20-Year-Old Arrested For Part in Theft of $ 5 Million in Crypto

It has been reported that on the 12th of July, Californian police arrested a college student accused of being part of a group of criminals responsible for the theft of more than $ 5 million in cryptocurrencies. Read more...

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Founder of Two Closed Cryptocurrency Services Pleads Guilty to Federal Charges

July 25, 2018 By Mark Lyford Leave a Comment

Pennsylvania Man Confesses to $ 40 Million Bitcoin Theft

The operator of two now-defunct cryptocurrency services – BitFunder and WeExchange – has pleaded guilty on charges of securities fraud and obstruction of justice.

Jon Montroll, 37, also known as Ukyo, has pleaded guilty to securities fraud and obstruction of justice in front of the U.S. Magistrate Judge James Cott in Manhattan according to Reuters.

Sneaky Moves

According to the prosecutors, Montroll, who is from Saginaw, Texas, operated the cryptocurrency storage and exchange service WeExchange Australia PTY LTD. He also operated BitFunder.com – a platform which allowed users to sell virtual shares of businesses for bitcoins. Read more...

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Alleged BTC-e Mastermind Confesses to Russian Money Laundering Charges

May 26, 2018 By Mark Lyford Leave a Comment

According to regional publications in Russia, the alleged BTC-e mastermind and prisoner in Greece, Alexander Vinnik, has allegedly confessed to charges of fraud and money laundering on May 24, 2018. Reports reveal a signed document details that Vinnik admits to committing financial fraud between 2011-2017 through the BTC-e cryptocurrency exchange.

Also read: This Week in Bitcoin: Ghost Scares Markets, Facebook Mulls Coin Read more...

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