Court Cases | ForkLog

ForkLog 27 29.04.2024

Legal Expert Criticises US Justice Department’s Statements in Tornado Cash Case

The US Department of Justice’s stance in the case against Roman Storm, co-founder of the cryptocurrency mixer Tornado Cash, is based on evident disregard for privacy and new technologies, as well as a misapplication of the law, according to Amanda Tuminelli, head of the legal department at DeFi Education Fund. The DOJ’s opposition to Roman […]

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ForkLog 22 26.04.2024

US Influencer Sentenced to Seven Years for Cryptocurrency Fraud

A federal court in Brooklyn has sentenced Instagram influencer Jebara Igbara, known as Jay Mazini, to 84 months in prison for orchestrating cryptocurrency scam schemes. He was found guilty of wire fraud, conspiracy, and money laundering amounting to at least $8 million. The sentence also mandates the forfeiture of $10 million from the defendant. The […]

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ForkLog 16 26.04.2024

SEC Accuses Bitcoin Miner Geosyn Mining of $5.6 Million Fraud

SEC filed a lawsuit against the mining company Geosyn Mining and its two co-founders, accusing them of an unregistered and fraudulent securities offering. The regulator claims that the firm, along with Caleb Ward (CEO) and Jeremy McNatt (COO), raised approximately $5.6 million from more than 60 investors between November 2021 and December 2022. The defendants […]

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ForkLog 22 24.04.2024

Changpeng Zhao Admits to “Poor Decisions” and Accepts Responsibility

Changpeng Zhao (CZ), founder and former CEO of Binance, apologized for “poor decisions” and accepted “full responsibility” for his actions in a letter to the judge, as reported by CoinDesk. In November 2023, CZ pleaded guilty to failing to maintain an effective anti-money laundering program at Binance during his tenure as the company’s head. As […]

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ForkLog 69 24.04.2024

SEC Seeks $5.3 Billion Penalty for Do Kwon and Terraform Labs

The U.S. Securities and Exchange Commission (SEC) filed a motion seeking $5.3 billion in compensation and fines from Terraform Labs (TFL) and its founder, Do Kwon. On April 5, a jury in the Southern District of New York found TFL and Kwon guilty of investor deception and securities fraud. The trial lasted nine days and […]

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ForkLog 25 24.04.2024

US Prosecutors Seek 36-Month Sentence for Binance Founder Changpeng Zhao

Changpeng Zhao (CZ), the founder and former CEO of Binance, faces a 36-month prison sentence after pleading guilty to violating anti-money laundering laws. This is according to a motion filed by US prosecutors, reports Reuters. “Given the scale of the deliberate violation of US law and its consequences, a sentence exceeding the established term of […]

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ForkLog 28 23.04.2024

US Blockchain Associations Challenge SEC’s Regulatory Approach

The Blockchain Association (BA) and the Texas Crypto Freedom Alliance (CFAT) have filed a complaint against the SEC, accusing it of “capricious rulemaking” and “erroneous attacks” on the digital asset industry. The organizations seek to overturn the “Dealer Rule” due to various violations of the Administrative Procedure Act (APA) by the agency, which “prevent industry […]

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ForkLog 26 23.04.2024

Binance Faces Canadian Lawsuit Over Securities Violations

A class action lawsuit has been filed against Binance in Canada. A group of investors claims the exchange violated local securities laws. The plaintiffs, represented by Christopher Lochan and Jeremy Leader, allege that the platform sold cryptocurrency derivatives to retail users without proper registration. The investors have demanded compensation from Binance and an end to […]

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ForkLog 54 23.04.2024

WEX’s ‘Red Admin’ Ordered to Pay Additional 18 Billion Rubles

On April 23, the Savelovsky District Court of Moscow granted a claim to recover 18 billion rubles from WEX system administrator Alexey Bilyuchenko (Ivanov). This was reported by journalist Irek Murtazin in his Telegram channel. The plaintiff was the official operator of WEX, the Singaporean company World Exchange Services, represented by owner Igor Pravdin. Until […]

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ForkLog 14 23.04.2024

Bankman-Fried to Assist in Pursuit of FTX Promoters

Sentenced to 25 years in prison, FTX founder Sam Bankman-Fried (SBF) has signed a settlement agreement with a group of the exchange’s clients to aid in the pursuit of the company’s celebrity promoters. In return, the affected investors will withdraw their class-action lawsuit against SBF. The document has yet to be approved by the court. […]

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ForkLog 15 21.04.2024

Nigerian Court Adjourns Binance Tax Evasion Case

A Nigerian court has postponed the tax evasion trial involving cryptocurrency exchange Binance and two of its senior executives to May 17, according to local publication Business Day. On February 25, Nigerian law enforcement detained Tigran Gambaryan, the Vice President for Global Intelligence and Investigations at the platform, and Nadeem Anjarwalla, the Director for West […]

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ForkLog 45 19.04.2024

SEC Justifies Legal Pursuit of Justin Sun Due to Frequent US Visits

In a revised complaint against TRON founder Justin Sun, the SEC stated that his frequent visits to the United States provide grounds for legal action. In March 2023, the regulator accused the entrepreneur and three associated companies of an unregistered offering of securities in the form of TRON (TRX) and BitTorrent (BTT) tokens. The agency […]

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