Investigation
The NBA Is Investigating Jontay Porter For Gambling Activity
It looks like Jontay Porter might have to explain his performance on the court. The NBA is investigating him over gambling activity connected to his play. The Score is reporting that the Toronto Raptors player is now at the center of a new probe being conducted by the National Basketball Association. According to ESPN the […]
Prince George’s County Cop In Hot Water Over TikTok Video
A Prince George’s County police officer is being investigated after a TikTok video of him with a woman in his vehicle went viral.
Nexo investigation is not political, Bulgarian prosecutors say
Siika Mileva, a spokesperson for Bulgaria’s chief prosecutors, has denied political motivations behind the probe against the crypto lending firm Nexo, according to local reports. The comments were made in response to claims that the investigation had a connection to the company’s political donations. Almost all cases where a prosecution launches an investigation that affects someone’s financial interests results in attacks and accusations, Mileva said. “It has become a national sport to attack the institutions,” he added. On Jan. 12, a group of prosecutors, investigators and foreign agents searched the company’s offices in the Bulgarian capital city of Sofia. The operation targeted a large-scale money laundering scheme as well as violations of Russia’s international sanctions. In less than...
NY law firm investigates potential ‘securities fraud’ at Core Scientific
A New York-based law firm says it has begun an investigation into whether Bitcoin miner Core Scientific and its leadership potentially engaged in “securities fraud and other unlawful business practices” which led to its stock price falling on several occasions. According to securities class action firm Pomerantz LLP, the investigation was prompted by a report from Culper Research in 2022, which alleged that Core Scientific had “wildly oversold” its mining and hosting businesses in 2021 and also waived a 180-day lockup period of over 282 million shares, making them “free to be dumped” in Mar. 2022. This report suggested that insiders at Core Scientific had “abandoned any pretense of care for minority shareholders,” noting ...
Digital Currency Group under investigation by U.S. authorities: Report
Crypto conglomerate Digital Currency Group, or DCG, are under investigation by the United States Department of Justice’s Eastern District of New York (EDNY) and the Securities and Exchange Commission (SEC), according to a Bloomberg report. The authorities are digging into internal transfers between DCG and its subsidiary crypto lending firm Genesis Global Capital, noted the report citing people familiar with the matter. Prosecutors have already requested interviews and documents from both the companies, while the SEC is running an early-stage similar inquiry. As of yet, no indictment has been brought against DCG, nor have both U.S. authorities provided any information about the case. According to a spokesperson for DCG, the company was unaware of the investigation. “DCG h...
Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds: Report
United States prosecutors are investigating hedge funds’ relationships with cryptocurrency exchange Binance for money-laundering violations. According to anonymous sources cited by the Washington Post, the U.S. attorney’s office for the Western District of Washington in Seattle subpoenaed investment firms to provide records of communications with Binance in the past months. The allegedly subpoenas do not mean prosecutors are bringing charges against the crypto exchange or hedge funds, as authorities are still evaluating evidence and a possible settlement with Binance, according to legal specialists. Binance did not immediately respond to Cointelegraph’s request for comment. Binance is under probe in the United States since 2018, when prosecutors began investigating a number of cases ...
SBF prosecutors reportedly dig into donations made to top US Democrats
The prosecutors investigating former FTX CEO Sam Bankman-Fried (SBF) have reportedly reached out to top members of the Democratic Party demanding information about the political donations made by the entrepreneur. Democratic members from the Democratic National Committee (DNC), the Democratic Congressional Campaign Committee (DCCC) and Congressman Hakeem Jeffries were contacted by SBF prosecutors for information to aid their ongoing investigations, according to a New York Times report. The United States attorney’s office for the Southern District of New York sent an email to the Democratic Party elections lawyer Marc Elias, asking for details on donations made by SBF. Similar emails were sent over to other members of the Democratic and Republican parties. The Royal Bahamas police arrested ...
US senator calls on SEC’s Gensler to answer for ‘regulatory failures’
Minnesota Senator Tom Emmer has slammed United States Securities Exchange Commission (SEC) Chairman Gary Gensler for his flawed “crypto information-gathering efforts” and insisted Gensler should appear before Congress to explain the cost of his “regulatory failures.” Emmer’s comments came from a Dec. 10 tweet to his 67,500 Twitter followers, where he made reference to a bipartisan Blockchain Caucus letter he co-authored to the SEC Chairman on Mar. 16. Emmer said, “we now know Gensler’s crypto information-gathering efforts were ineffective” citing the collapses of the Terra ecosystem and bankrupt crypto platforms Celsius, Voyager and FTX. He declined to provide Congress with the information requested in the letter, which would’ve informed Congress of the apparent inconsistencies...
FTT investors’ claims to be investigated for securities laws violations
To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against FTX for violations of the securities laws. It is estimated that over one million people have lost their life savings owing to the financial fraud committed by FTX CEO Sam Bankman-Fried. To help the investors legally recoup losses, the law firm plans to investigate FTX for issuing misleading statements or failing to disclose crucial information. In an official statement, Schall Law Firm highlighted how various media publications uncovered the cracks within FTX-Alameda operations, eventually leading to the crash of FTX’s in-house FTT tokens. The law firm advised all FTT investors to participate in the drive b...
US DOJ reportedly investigating FTX CEO for siphoning funds out of the US
While many crypto fraudsters were able to slip through the cracks in the past, the same does not hold for FTX CEO Sam Bankman-Fried (SBF). Running parallel to the ongoing scrutiny related to FTX frauds, the United States Department of Justice (DOJ) is reportedly investigating a potential fraud that involves SBF siphoning funds offshore just days before FTX filed for bankruptcy. According to a Bloomberg report, the federal investigation aims to examine SBF’s involvement in improperly transferring FTX funds to the Bahamas as the defunct crypto exchange filed for bankruptcy on Nov. 11. The anonymous informant further revealed that DOJ officials met with FTX’s court-appointed overseers to discuss the scope of the information they need for further investigation. DOJ also plans to investigate wh...
South Korea seizes $104M from Terra co-founder suspecting unfair profits
While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto crash — Terraform Labs. Nearly six months after the Terra (LUNA) blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits. The decision to freeze Shin’s asset worth over $104 million was approved by the Seoul Southern District Court, which was based on a request from the prosecutors. The claim related to Shin’s involvement in selling pre-issued Terra (LUNA) tokens to unwary investors. Based on suspicion of profiting from unwarranted LUNA sales, the district court froze the allegedly stole...
Crypto scammers are using black market identities to avoid detection: CertiK
Crypto scammers have been accessing a “cheap and easy” black market of individuals willing to put their name and face on fraudulent projects — all for the low price of $8, blockchain security firm CertiK has uncovered. These individuals, described by CertiK as “Professional KYC actors” would, in some cases, voluntarily become the verified face of a crypto project, gaining trust in the crypto community prior to an “insider hack or exit scam.” Other uses of these KYC actors include using their identities to open up bank or exchange accounts on behalf of the bad actors. According to a Nov. 17 blog post, CertiK analysts were able to find over 20 underground marketplaces hosted on Telegram, Discord, mobile apps, and gig websites to recruit KYC actors for as low as $8 for simple “gigs” lik...
