Crypto Firm CEO Admits Guilt in Elaborate Futures Fraud Conspiracy
Peter Kambolin, former CEO of Systematic Alpha Management, pleads guilty to a “cherry-picking” fraud conspiracy involving crypto futures, facing potential imprisonment. Key Takeaways In a significant unfolding in the crypto domain, Peter Kambolin, the erstwhile CEO of Systematic Alpha Management (SAM) LLC, based in Miami, has entered a guilty plea in a commodities fraud conspiracy centered around crypto futures contracts. …
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Cryptocurrency Magnate Sam Bankman-Fried on Trial for Fraud and Conspiracy
Sam Bankman-Fried, once regarded as a paragon in the cryptocurrency sector and founder of the now-collapsed exchange FTX, is on trial facing seven counts of fraud and conspiracy, tied to alleged embezzlement of funds and the subsequent bankruptcy of FTX. Key Takeaways The unraveling of the case will offer a glimpse into the intricacies of FTX’s operations and decisions leading …
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Federal Authorities Demand BlockFi to Transfer Funds Used in $575M Scam
BlockFi, a platform that lends cryptocurrency, has been directed by the court to transfer funds related to a $575 million fraud. The court-appointed prosecutor, who filed a complaint against BlockFi in March, issued the order. The prosecutor alleged that BlockFi’s platform was used to transfer and hide funds in the fraudulent scheme. About the Accusations According to the accusation, individuals …
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Two Citizens in India Lose 19 Lakhs to Cryptocurrency Fraud
Two citizens of Mumbai, India, fell victim to cryptocurrency fraud, losing a total of 19 lakhs to cyber fraudsters. The victims, a doctor and a homemaker were approached by the accused, who convinced them to invest in cryptocurrency. The doctor was defrauded of Rs 6.23 lakh, while the homemaker lost Rs 13.10 lakh. Homemaker Duped via WhatsApp Group According to …
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